Bilateral Trade between Bangladesh and Russia
Bangladesh and Russia are enjoying a healthy growth in terms of trade and commerce. But both sides have much more to offer. It is expected that the recently concluded Bangladesh-Russia Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation will remove the bottlenecks in further expansion of the bilateral trade.
Bilateral trade between the two countries has increased considerably in last few years. 2018- 2019 financial year Bangladesh exported US$ 548.26 million worth of merchandised products to Russia. In last fiscal year it was US$485.23 million. On the other hand, Bangladesh imported US$653.05 million worth of products from Russia in 2018-2019 fiscal year which was US$629.8 million in previous fiscal year. Bangladesh mainly exports apparel items, jute, frozen foods, tea, leather, home textiles and ceramic products to Russia. But there is a huge scope for export of sea foods, potato and pharmaceutical products in Russian markets. The country’s imports from Russia include cereals, minerals, chemical products, plastic products, metal, machinery and mechanical equipment. Russia can export capital machineries, fresh and dried fruits and raw sugar.