Bangladesh-Russia business dialogue in Motijheel focuses on expanding trade and investment

Business leaders and policymakers from Bangladesh and Russia have held a high-level exchange on ways to expand bilateral trade, increase capital investment and strengthen their economic partnership. The discussion, titled the Bangladesh-Russia Business Dialogue, was held on Thursday afternoon at the Dhaka office of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) in Motijheel.

FBCCI administrator Fazlul Haque, setting out the background to the meeting, said the sideline talks had been arranged to make trade and economic cooperation between the two countries more dynamic. Alongside the Russian delegation, the discussion was joined by Bangladeshi government officials and business leaders from the central bank, the capital market and the private sector.

Fazlul Haque said that for various reasons the commercial potential between Moscow and Dhaka had not gained the expected pace in the past. He described the meeting as fruitful as an initial and positive step towards removing the current obstacles and moving forward, and said it had been held in a completely open atmosphere with nothing held back.

The Russian delegation was joined by Russia's ambassador in Dhaka, Alexander, and by Sattar Mia, chairman of the Russia-Bangladesh Business Council, along with the country's trade representatives. Fazlul Haque made clear that the Russia-Bangladesh Business Council is an independent commercial organisation formed of entrepreneurs from both countries, with no direct control by any government institution.

He also said the presence of domestic entrepreneurs was somewhat limited because of uncertainty and commitments in the country's current business situation. A large Russian delegation coming to Dhaka nevertheless proved, he said, that Russia is sincere and keen to expand its commercial relationship with Bangladesh.

Those present at the dialogue included Abdul Hai Sarkar, president of the Association of Bankers Bangladesh (BAB); Shamim Ahmed, president of the Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA); Abdul Haque, president of the Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA); Kamran Rahman, president of the Metropolitan Chamber; and Saiful Islam, president of the Bangladesh Association of Pharmaceutical Industries.

Policymakers from Bangladesh Bank, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) also attended and gave their views on various aspects of activating bilateral transactions and commercial channels.