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BD mulls signing 13 deals during PM's Russia visit
Hasina to seek apparel items' duty-free access
Published : Saturday, 15 December 2012
Syful Islam
Bangladesh is moving forward to sign 13 agreements and memoranda of understanding (MoUs) during Prime Minister Sheikh Hasina's Russia visit next month, aiming to boost bilateral trade and other cooperation, sources said.
Drafts of most of the agreements and MoUs are at different stages of finalisation, they added.
Sources said during her visit the Prime Minister will seek duty-free access of Bangladeshi apparel items to the Russian Federation. Besides, she will seek Russian assistance in providing technical support for telecommunication sector and satellite launching as well as in importing wheat and fertiliser from there.
The two sides are scheduled to sign agreements on cooperation in promotion and protection of investments, extension of a state export credit for financing the preparatory stage of nuclear power plant construction in Bangladesh, and extension of credit for purchase of defence equipment.
Besides, signing of agreements on cooperation in establishing a nuclear industry information centre in Bangladesh, and visa-free visit for holders of diplomatic and service (official) passports are also on the list.
Sources said the two nations are also mulling signing of MoUs on collaboration in combating terrorism, and in the fields of education, agriculture, wheat trade, healthcare and medical sciences, and cultural exchange.
MoUs between Petrobangla and Gazprom, and law and justice ministries of the two countries are also likely to be signed.
Last year, Bangladesh signed an agreement with Russia for setting up a nuclear power plant having a generation capacity of 2,000 megawatts of electricity. Russia assured Bangladesh in principle to fund the project cost. Some US$ 2.0 billion will be required to build a nuclear plant with a capacity of generating 1,000 mw of electricity.
Bangladesh's cabinet in January approved engaging Russian company Gazprom in drilling 10 gas wells, which has already started civil works for the same.
Bilateral trade between the nations is still very meagre with annual trade remaining below $300 million, though some Bangladeshi items, including jute and jute goods, shrimps, tea, silk, and rice, enjoy tariff preference in the Russian market.
However, Bangladesh's major export items like apparel, leather and leather goods, and ceramics are yet to get tariff preference in Russia.
In the fiscal year 2010-11 the trade volume between the countries was around $250 million, with Bangladesh's importing goods from Russia worth $153 million and exporting items worth $ 97 million.
Bangladesh's exports to Russia include knitwear, raw jute, jute goods, woven garments, agri-products, frozen foods, chemical products, shrimps, home textiles, textile fabrics, ceramic tableware, tobacco, sports footwear, coir and coir products, and aluminium utensils etc.
On the other hand, Bangladesh's import from there includes metal-roll, raw materials for textile industry, fertilisers, and wheat.
Russian investment in Bangladesh is rather insignificant. Until 2010, foreign direct investment and joint-venture investment proposals valued at a paltry $81 million from Russia were registered with the Board of Investment.
Financial Express :: Financial Newspaper of Bangladesh
Hasina to seek apparel items' duty-free access
Published : Saturday, 15 December 2012
Syful Islam
Bangladesh is moving forward to sign 13 agreements and memoranda of understanding (MoUs) during Prime Minister Sheikh Hasina's Russia visit next month, aiming to boost bilateral trade and other cooperation, sources said.
Drafts of most of the agreements and MoUs are at different stages of finalisation, they added.
Sources said during her visit the Prime Minister will seek duty-free access of Bangladeshi apparel items to the Russian Federation. Besides, she will seek Russian assistance in providing technical support for telecommunication sector and satellite launching as well as in importing wheat and fertiliser from there.
The two sides are scheduled to sign agreements on cooperation in promotion and protection of investments, extension of a state export credit for financing the preparatory stage of nuclear power plant construction in Bangladesh, and extension of credit for purchase of defence equipment.
Besides, signing of agreements on cooperation in establishing a nuclear industry information centre in Bangladesh, and visa-free visit for holders of diplomatic and service (official) passports are also on the list.
Sources said the two nations are also mulling signing of MoUs on collaboration in combating terrorism, and in the fields of education, agriculture, wheat trade, healthcare and medical sciences, and cultural exchange.
MoUs between Petrobangla and Gazprom, and law and justice ministries of the two countries are also likely to be signed.
Last year, Bangladesh signed an agreement with Russia for setting up a nuclear power plant having a generation capacity of 2,000 megawatts of electricity. Russia assured Bangladesh in principle to fund the project cost. Some US$ 2.0 billion will be required to build a nuclear plant with a capacity of generating 1,000 mw of electricity.
Bangladesh's cabinet in January approved engaging Russian company Gazprom in drilling 10 gas wells, which has already started civil works for the same.
Bilateral trade between the nations is still very meagre with annual trade remaining below $300 million, though some Bangladeshi items, including jute and jute goods, shrimps, tea, silk, and rice, enjoy tariff preference in the Russian market.
However, Bangladesh's major export items like apparel, leather and leather goods, and ceramics are yet to get tariff preference in Russia.
In the fiscal year 2010-11 the trade volume between the countries was around $250 million, with Bangladesh's importing goods from Russia worth $153 million and exporting items worth $ 97 million.
Bangladesh's exports to Russia include knitwear, raw jute, jute goods, woven garments, agri-products, frozen foods, chemical products, shrimps, home textiles, textile fabrics, ceramic tableware, tobacco, sports footwear, coir and coir products, and aluminium utensils etc.
On the other hand, Bangladesh's import from there includes metal-roll, raw materials for textile industry, fertilisers, and wheat.
Russian investment in Bangladesh is rather insignificant. Until 2010, foreign direct investment and joint-venture investment proposals valued at a paltry $81 million from Russia were registered with the Board of Investment.
Financial Express :: Financial Newspaper of Bangladesh
