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Bangladesh, Russia MoU to boost bilateral trade

Bangladesh and Russia have reportedly decided to sign a Memorandum of Understanding (MoU) to remove all trade barriers between the two countries.

There are currently no banking transactions between Bangladesh and Russia, and trade is done through Telegraphic Transfer (TT), which as per many garment makers, is a major hindrance towards facilitating garment business with Russia.

There is huge demand for Bangladeshi apparel items alongside sea foods, potato and medicine in the Russian markets. The MoU will allow banking transactions between the two countries to reduce difficulties related to trade and commerce thereby giving a fillip to trade with Russia.

 

 
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