BD wants duty-free accessof 10 products to Russia

FE Team | Published: October 09, 2011 00:00:00 | Updated: February 01, 2018 00:00:00

Nazmul Ahsan Dhaka will seek duty-free access for its 10 major products to Moscow during the forthcoming visit of Prime Minister Sheikh Hasina to Russia, expected to take place at the end of next month, official sources said. The decision was taken last Tuesday at an inter-ministerial meeting, held at the Ministry of Foreign Affairs (MoFA). Foreign Minister Dipu Moni presided over the meeting, a senior official of MoFA said. The items for which duty-free access will be sought are -- ready-made garment (RMG), knitwear, raw jute, jute goods, pharmaceutical products, manufacturing goods, ceramic, leather, leather goods and tableware. "The inter-ministerial meeting has finalized the list of products for the duty-free market access of which the request will be made to the Russian government during the visit of Prime Minister Sheikh Hasina in mid-November," a top MoFA official told the FE. "The list of products has been finalised after scrutinising a list of products, proposed by Ministry of Commerce (MoC)," he added. The representatives from MoC, ministries of shipping, energy, education, health and National Board of Revenue (NBR) attended the meeting. Officials in the MoC said, currently bilateral trade between Dhaka and Moscow is largely tilted in favour of the latter. Bangladesh imported goods worth $153 million from Russia in fiscal year (FY) 2010-2011 fiscal year against its export worth $96.95 million to Russia in the same year. They said, currently country's 48 items are BD wants enjoying duty-free facility in Russian market. However, except frozen food and tea, no other potential exporting products are in the list of 48. Trade officials said woven garment and knitwear of Bangladesh origin have a large demand in Russian market for their quality. However, the apparel items from Bangladesh cannot find good market due to lack of competitiveness with cheap items from China and Cambodia. "Apparel export from Bangladesh to Russia could easily be raised to at least $200 million per year if duty-free market access is granted for Bangladeshi apparel," a trade official said. "Hopefully, Russia will grant the facility for 10 Bangladeshi items including those of apparels, considering our status as a Least Developed Country (LDC)," he added. The cooperation in the field of atomic energy and power are the areas where Bangladesh will give more emphasis during the visit of Prime Minister Sheikh Hasina, a MoFA high official said. Besides, issues like exploration and production of gas, cooperation in agriculture and supplies of food both ways, will also get importance in official talks during the visit of Sheikh Hasina to Russia, he added.