Bangladesh, Russia sign agreement to open 'new horizon' in bilateral relations

Bangladesh has signed an agreement with Russia to establish an intergovernmental commission on trade, economic, scientific and technical cooperation to 'further strengthen bilateral relations.'

State Minister for Foreign Affairs Md Shahriar Alam who signed the agreement on Wednesday told bdnews24.com that this would open “a new horizon” in Bangladesh’s relations with Russia.

Russia’s Deputy Minister for Economic Development Alexey Gruzdev signed the agreement earlier in Moscow which was handed over by Russian Ambassador in Dhaka Alexander I Ignatov at the ceremony.

Foreign Minister Abul Hassan Mahmood Ali witnessed the signing and said this would 'further strengthen bilateral relations' between the two countries.

The bilateral relations with Russia began in 1971 when the erstwhile Soviet Union firmly backed Bangladesh's Liberation War against Pakistan.

Communist Soviet Union extended its support to the Bangladesh cause at the United Nations in 1971 and helped to restore and develop its war-ravaged economy by demining the Chittagong port from 1972 to 1974.

But the relations did not pick up after the 1975 coup when Bangladesh’s founding father Bangabandhu Sheikh Mujibur Rahman was killed.

His daughter Prime Minister Sheikh Hasina visited Russia in 2O13 which was the first official visit of a Bangladesh Prime Minister to Moscow since Bangabandhu’s visit in April 1972 immediately after Bangladesh's independence.

Russia is now helping Bangladesh to set up its first nuclear power plants at Rooppur. Both sides also waived visas for each other’s diplomats and officials.

“There are huge potential to boost our relations. For us, Russia can be a huge market for our readymade clothes and we are expecting to get duty-free access in the region,” the state minister told bdnews24.com.

He said there would be sector-wise working committee through this joint mechanism of intergovernmental commission.

“It’ll be a right vehicle to implement all the decisions taken during the prime minister’s visit,” he said, adding that this would create “a new horizon in the bilateral relations.”

Bangladesh exports frozen foods, jute and jute products, tea, leather, home textiles and ceramic products to Russia and imports cereals, minerals and chemical products, plastic products, metal, machinery and mechanical equipment from Russia.

The two-way annual trade is worth about $1.5 billion.

The Russian ambassador said they have such kind of agreement with many other countries. “This will accelerate the cooperation in the areas we need to develop,” he said.

The foreign ministry in a statement said the agreement is signed with an aim “to promote the development of broad-based cooperation in a variety of areas, including trade, economy, science and technology”.

“The Intergovernmental Commission will identify the main directions for trade, economic, scientific and technical cooperation and its priority areas of the two countries.

“It will assist the organisations and business communities of the two countries in the development and diversification of mutual bilateral relations.

“It will also analyse the status of trade, economic, scientific and technical cooperation, defines its most prospective directions, particularly in areas of agriculture, energy and power, education.

“The Commission may identify other directions of cooperation, such as information and communication technologies, innovations, knowledge sharing and other areas,” said the foreign ministry.

Both parties will appoint co-chairs, with deputies and executive secretaries to carry out the Commission’s work.

Permanent or ad-hoc working groups on specific areas of cooperation may be established within the framework of the Commission by a joint decision of the Co-Chairs.

The number of members of national parts of the Commission would not exceed 20 from each party.

“The Commission will meet at least once a year, alternately in the capitals of Bangladesh and the Russian Federation”.