Russia has expressed keen interest in expanding bilateral trade with Bangladesh, offering to supply urea fertiliser at a more competitive price while reaffirming its commitment to supporting the country's food security.
The proposal came during a meeting between Commerce Minister Khandakar Abdul Muktadir and Russian Chargé d'Affaires to Bangladesh Vyacheslav Sentyurin at the secretariat in the capital on Tuesday.
Industries Secretary Abdun Naser Khan and other senior officials also attended the meeting.
During the talks, the Russian delegation proposed supplying around 0.28 million tonnes of urea to the Bangladesh Chemical Industries Corporation (BCIC) through JSC FEC Prodintorg, a Russian state-owned foreign economic corporation, under a government-to-government (G2G) arrangement.
According to the delegation, Russia is prepared to offer fertiliser at a rate that will be $10 lower per tonne than what Bangladesh now pays to its suppliers.
The offer, if accepted, is expected to help reduce import costs while ensuring a stable and reliable supply of the key agricultural input.
The meeting also focused on strengthening bilateral economic cooperation, with particular emphasis on food security, agricultural collaboration, fertiliser supply, and expansion of G2G trade.
Muktadir appreciated Russia's continued support in supplying wheat and muriate of potash (MOP) fertiliser, describing Russia as a trusted development partner of Bangladesh.
He expressed optimism that trade and economic ties between the two countries would continue to grow in the coming years.
The two sides also discussed expanding cooperation under the existing memorandum of understanding (MoU) between the Trading Corporation of Bangladesh (TCB) and JSC FEC Prodintorg for the supply of essential commodities.
The Russian side expressed interest in exporting a range of food items to Bangladesh, including sunflower oil, yellow peas, chickpeas, red lentils, and green lentils, to support the country's food security and market stability.
Welcoming Russia's interest in broadening trade relations, the commerce minister said Bangladesh was committed to enhancing bilateral trade, investment, and economic cooperation on the basis of mutual benefit.
Both sides agreed to maintain regular engagement to further strengthen bilateral trade, promote investment, and deepen the overall economic partnership between the two countries.
tonmoy.wardad@gmail.com
