Bangladesh backs trade in national currencies with other states including Russia — MFA

Business & Economy January 31, 17:39

"If we can do this with a number of countries, our dependence on any particular currency will decrease," the country's Foreign Minister, Muhammad Hassan Mahmud, underlined

NEW DELHI, January 31. /TASS/. The government of Bangladesh supports trade in national currencies with different countries, including Russia, the country's Foreign Minister, Muhammad Hassan Mahmud, told reporters after a meeting with the Russian Ambassador to the Republic Alexander Mantytsky.

When asked about the prospects for trade in rubles, the minister positively assessed trade in national currencies in general.

"If we can do this with a number of countries, our dependence on any particular currency will decrease. This is not only Russia, with any country. This will support our economy," he said as quoted by the UNB information portal.

As the Foreign Minister noted, they discussed bilateral relations in detail with the Russian ambassador, including trade and economic ties.

"We discussed ways to expand the trade basket and increase Russian investment in Bangladesh," he said after the meeting.

Also, as the minister indicated, both sides discussed memorandums of understanding that are under consideration and focused on accelerating the signing of a memorandum of cooperation in the field of information and communication technologies between the two countries.

January 25 marked the 52nd anniversary of the establishment of diplomatic relations between Russia and Bangladesh. As the Russian embassy in Dhaka reported, the countries have similar approaches to the most important foreign policy issues, there are no contradictions or unresolved issues in relations, they are developing in an atmosphere of mutual understanding and friendliness. Bangladesh is one of Russia's largest trading partners in Southern Asia. Trade volume has consistently exceeded $2 billion in recent years.

The countries are now implementing major economic projects, including the construction of the first nuclear power plant in Bangladesh, Rooppur, which is being carried out according to a Russian design. The departments of the two states are discussing practical aspects of establishing regular large-scale supplies of liquefied natural gas and oil to Bangladesh. Russia delivers consignments of wheat and fertilizers to the country.

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