President of the Dhaka Chamber of Commerce and Industry (DCCI), Ashraf Ahmed, has called for greater Russian investment in Bangladesh’s power and energy sectors. His invitation came during a meeting with a visiting Russian trade mission at the DCCI Auditorium in Dhaka, according to a press release.

A 14-member business delegation led by Dr. Alexander Rybas, Trade Commissioner of the Russian Federation in India, visited the DCCI to explore new business opportunities that could benefit both nations.

Ashraf Ahmed highlighted the current bilateral trade between the two countries, noting that it amounts to US$ 965.61 million. He reported that Bangladesh’s exports to Russia stood at $460.39 million, while imports reached $505.22 million. Furthermore, he mentioned that the total foreign direct investment (FDI) from Russia to Bangladesh is $17.26 million.

The DCCI President encouraged Russian importers to increase their purchases of Bangladeshi products, such as ready-made garments, pharmaceuticals, jute and jute goods, light engineering products, and leather goods. He praised the success of Russian investors already operating in Bangladesh and invited further investment in agriculture, science, technology, education, maritime, and service sectors, citing their high potential.

Dr. Alexander Rybas expressed satisfaction with the longstanding cordial trade relationship between Russia and Bangladesh, which dates back to a joint trade agreement signed in 1972. He pointed out Russia’s significant contribution to Bangladesh’s energy sector, particularly the Rooppur Nuclear Power Plant, and expressed hope for continued cooperation in energy security and natural gas exploration.

In 2023, Russia exported approximately 2.67 million metric tonnes of wheat to Bangladesh. Dr. Rybas noted the potential for Russian investment in information technology, banking, chemical, and mechanical engineering sectors in Bangladesh. He also highlighted the involvement of Bangladeshi skilled workers in Russia’s shipbuilding industry since 2023, predicting further expansion in this field.

Ekaterina Semenova, Minister-Counsellor and Deputy Chief of Mission at the Russian Embassy in Bangladesh, emphasized Russia’s strong commercial ties with Bangladesh, the second-largest among South Asian countries. She stressed the importance of enhancing relationships between private sector representatives of both nations.

The meeting concluded with a networking session where members of the Russian delegation expressed their interest in doing business in Bangladesh, praising it as a favorable investment destination. Members of the DCCI Board of Directors were also present during the event.