Bangladesh and Russia moved to strengthen commercial ties this week, with business groups signing a Memorandum of Understanding and officials holding high-level intergovernmental talks focused on trade, energy, agriculture, banking, and technology.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the Russia-Bangladesh Business Council signed the MoU on November 5 at the FBCCI office in Motijheel during a Bangladesh-Russia Business Dialogue. FBCCI Administrator Md Fazlul Hoque and Russia-Bangladesh Business Council Chairman Mia Sattar formalized the agreement in the presence of Ilya Shestakov, head of Russia’s Federal Agency for Fisheries and leader of the Russian delegation.
The MoU aims to create a more favorable environment for companies in both countries through information sharing, joint projects, trade fairs, exhibitions, business missions, and investment forums. Hoque noted that trade has not yet reached expected levels and described the dialogue as a step toward identifying and addressing barriers. Shestakov described Bangladesh as one of Russia’s leading trading partners in South Asia and expressed interest in expanding supplies of agricultural products, food, and fertilizer, while exploring cooperation in energy, information technology, cybersecurity, and e-governance. Both sides stressed the need for sustainable bilateral payment infrastructure, simplified procedures, better logistics, and improved market access.
The business talks coincided with the fifth meeting of the Bangladesh-Russia Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation, held in Dhaka on November 5–6. Co-chaired by Economic Relations Division Secretary Shahriar Kader Siddiky and Shestakov, the commission reviewed ongoing cooperation and signed agreed minutes recording shared priorities in energy (including potential long-term LNG and LPG supplies), agriculture, fisheries, industry, investment, education, and technical fields. Russian participants highlighted opportunities in banking and ICT, while Bangladesh emphasized power and energy security, agricultural technology, and skills development.
The Russia-Bangladesh Business Council, an independent body representing business interests from both countries, was formally organized earlier this year with Mia Sattar as chairman. The week’s developments come amid broader efforts to expand bilateral economic links despite existing constraints on payments and logistics.