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Bangladesh keen to join economic summit in Russia to increase trade, investment

Asif Showkat Kallol || BusinessInsider

Published: 19:05, 17 August 2022  
Bangladesh keen to join economic summit in Russia to increase trade, investment

Flags of Bangladesh and Russia. Photo: Representational

Bangladesh will have her strong presence before the 2022 edition of the Eastern Economic Forum summit to be held in Vladivostok, a commerce ministry official said.

Dhaka is interested in joining the summit to increase trade and investment with former Soviet Union countries, the official added.

Commerce Minister Tipu Munshi last month was invited by the Eastern Economic Forum to attend its summit in Vladivostok of Russia.

The programme of the 7th Eastern Economic Forum that is taking place in the far east Russian city from September 5 to 8, will consist of more than 70 business events.

Eastern Economic Forum is an international forum that has been holding its annual gathering in Vladivostok since 2015 to encourage foreign investments in the country’s far eastern region.

Director General of WTO Cell in Bangladesh Md Hafizur Rahman told Business Insider Bangladesh that there are arising new opportunities and challenges over trade and commerce for Bangladesh following the war in Ukraine.

“We want to increase our trade and commerce with the Eurasian Economic Union nations, like Belarus, Kazakhstan, and, therefore, this forum is the right place to explore opportunities,” Hafizur said.

The Eurasian Economic Union is an economic union of some post-Soviet states located across Eurasia. The Treaty on the Eurasian Economic Union was signed on 29th May 2014 by the leaders of Belarus, Kazakhstan, and Russia, respectively.

Meanwhile, some forty countries have confirmed their participation in the upcoming Eastern Economic Forum summit.

Advisor to the President of the Russian Republic and Executive of the organising committee, Anton Kobyakov extended his invitation to the commerce minister, in a letter.

The letter said the forthcoming forum will be a key business calendar for 2022. “We will endeavour to provide a platform to enable you to work effectively, forge new ties with the potential partners, sign investment agreements and share perspectives,” it said.

Some 4,000 delegates and journalists are expected to attend the summit.