The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the Russia-Bangladesh Business Council have signed a Memorandum of Understanding (MoU) to promote bilateral trade, investment and business cooperation between Bangladesh and Russia.
The agreement was signed 5 November at the FBCCI office in Motijheel, Dhaka, during the Bangladesh-Russia Business Dialogue, jointly organised by the two trade bodies.
The MoU aims to create a favourable business environment for enterprises in both countries through information exchange, joint projects, trade fairs, exhibitions, business missions and investment forums.
At the dialogue, business leaders from Bangladesh and Russia also called for removing existing trade barriers and establishing a sustainable payment mechanism to unlock the potential of bilateral trade and investment.
Russia-Bangladesh Business Council Chairman Mia Sattar has outlined an ambitious action plan for 2026–27 to strengthen bilateral trade, investment and economic cooperation.
Speaking at the Russia-Bangladesh Business Dialogue Forum at the FBCCI headquarters in Dhaka, he said the council would work as a practical facilitator of the Intergovernmental Russian-Bangladeshi Commission, translating government-level initiatives into commercial contracts and business partnerships.
The proposed initiatives include establishing a Russian Expocentre and Industrial Park in Dhaka, exploring solar power and grain storage projects, expanding textile and garment trade, and facilitating Bangladeshi seafood exports to the Eurasian Economic Union market.
Sattar also highlighted opportunities for cooperation in LNG, gas exploration, banking, investment, technology and education.
He said the council would promote regular business-to-business networking and organize a dedicated Bangladesh session at KazanForum in May 2027. The next annual business forum is planned for the second half of 2027.
Speaking at the event, FBCCI Administrator Md Fazlul Hoque said Bangladesh and Russia had significant opportunities to expand trade and investment, but existing barriers needed to be identified and addressed jointly.
“Business and trade between Bangladesh and Russia have not progressed to the expected level for various reasons,” he said, describing the dialogue as an initial step towards overcoming obstacles and strengthening economic ties.
Russian delegation leader Ilya Shestakov said Bangladesh was one of Russia’s leading trading partners in South Asia.
Russia is interested in expanding supplies of agricultural products, food and fertiliser to Bangladesh, while exploring cooperation in energy, information technology, cybersecurity and e-governance, he said.
However, establishing a sustainable bilateral payment infrastructure was essential to realise the trade potential, Shestakov added.
Russian Ambassador to Bangladesh Alexander Khozin stressed the need to address regulatory procedures, logistics and market-access barriers to meet growing trade and investment needs.
He also highlighted opportunities for cooperation in education and human resource development alongside commercial ties.
Under the MoU, FBCCI and the Russia-Bangladesh Business Council will exchange updated business information, facilitate joint projects involving companies from both countries and work together to organise trade fairs, exhibitions, business missions and investment forums.
The agreement is also intended to promote business initiatives and strengthen strategic partnerships between businesses in the two countries.
Fazlul Hoque said the dialogue brought together Russian delegates, government officials and representatives of Bangladesh’s private sector, including banks, the central bank and stock exchanges.
He said the presence of a large Russian delegation reflected the importance both sides attached to strengthening bilateral trade and investment.
The Russia-Bangladesh Business Council is an independent organisation representing Bangladeshi and Russian businesspeople operating in Russia, he said.
Among those attending the ceremony were Imam Abu Sayeed, executive director of Bangladesh Bank, Ayonur Akhtar Panna, joint secretary of the Economic Relations Division, Kamran T Rahman, president of the Metropolitan Chamber of Commerce and Industry and Mir Nizam Uddin Ahmed, former FBCCI vice-president.
The event was also attended by Abdul Haque, president of the Bangladesh Reconditioned Vehicles Importers and Dealers Association, Abul Hossain, president of the Bangladesh Jute Mills Association, Hasan Ali, president of the Rajshahi Chamber of Commerce and Industry, Mominul Islam, chairman of the Dhaka Stock Exchange, and AKM Habibur Rahman, chairman of the Chittagong Stock Exchange. Representatives of various business organisations and members of FBCCI’s general council also attended.
