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Russia to Sign New Trade Accord with Bangladesh
Russia would sign a new trade agreement with Bangladesh to replace the existing deal of 1972 to add a fillip to bilateral trade relations, The Independent quoted Russian Ambassador Shevehenko as saying Tuesday.
Speaking at a seminar on "Bangladesh-Russian Relations: Present, Past and Future" organized by Bangladesh Institute of International and Strategic Studies, the Russian Ambassador underlined the need for signing bilateral agreements on avoidance of double taxation and promotion and protection of investments.
Referring to recent years' turnover of bilateral trade that fluctuates between 50 to 100 million US dollars, the ambassador said trade is most promising but remained unexplored to a large extent.
The backbone of economic cooperation between the two countries is energy sector, he said, adding that about 30 percent of electricity production in Bangladesh is generated at Ghorashal Thermal Power Station built with Russian technical assistance.
Mentioning the notable progress in military-technical cooperation, Shevehenko said a relevant inter-governmental agreement was signed in February 1999, which paved the way for procurement of Russian military equipment to Bangladesh.
In accordance with the contract signed in June 1999, eight MIG-29 have already been acquired by Bangladesh Air Force, he added.
The Ambassador said Russian-Bangladesh friendship has stood the test of time and the time-honored friendship will further grow.
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