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The Financial Express

Lavrov's Dhaka visit

Bangladesh to seek duty cut in Russian market

| Updated: November 18, 2022 19:40:11


Bangladesh to seek duty cut in Russian market

Dhaka will seek duty reduction in its exports to the Russia market during the visit of Russian foreign minister Sergei Lavrov, Bangladesh foreign ministry high-ups said on Thursday.

State minister for foreign affairs M Shahriar Alam told the FE that domestic exporters have to pay as high as 35-per cent duty for shipments to Russia.

Mr Lavrov is scheduled to reach Dhaka on a brief visit on November 23.

"During the Russian foreign minister's visit, we'll propose to reduce duty for Bangladeshi products to the Russian market," added Mr Alam.

Since Russia's neighbours Belarus, Kazakhstan and Uzbekistan are in talks with Bangladesh about reducing import duty on Bangladeshi products, he said Russia can do the same like the Euro-Asian countries.

According to Mr Alam, there is a huge market for Bangladeshi products in Russia, and both sides will discuss how to explore it during the visit.

He said Russia's contribution to the 1971 liberation war in Bangladesh was unique.

During his short visit, sources said, Mr Lavrov would meet Prime Minister Sheikh Hasina and hold a bilateral meeting with foreign ministry officials.

Earlier, the Bangladesh foreign secretary said food and green energy supply would dominate talks between Dhaka and Moscow during this high-profile visit.

Bangladesh will also request Russia to take a more proactive role in resolving the Rohingya crisis as Russia has very warm ties with the Myanmar junta.

Mr Lavrov is visiting Dhaka to attend the 21st Council of Ministers (COM) Meeting of the Indian Ocean Rim Association (IORA) as Russia has become an observer-member of the platform.

The presence of the Russian minister in the conference will provide an opportunity for them to convey their thoughts about the Indian Ocean region, according to the secretary.

Bangladesh, the current chair of the IORA, expects more than a dozen ministers, including the Russian foreign minister, at the meeting.

In October, two foreign ministers-Mr AK Abdul Momen and Mr Lavrov-met in Astana, Kazakhstan, on the sidelines of the Conference on Interaction and Confidence-Building Measures in Asia Summit.

The IORA meeting, to be hosted by Bangladesh, will be preceded by the 24th meeting of the Committee of Senior Officials (CSO) to be held on November 22-23.

The IORA is an inter-governmental organisation aimed at strengthening regional cooperation and sustainable development within the Indian Ocean region through its 23 member-states and 10 dialogue partners.

The IORA states are Australia, Bangladesh, Union of Comoros, French Republic, India, Indonesia, Iran, Kenya, Republic of Madagascar, Malaysia, the Maldives, Mauritius, Mozambique, Oman, Seychelles, Singapore, Somalia, South Africa, Sri Lanka, Tanzania, Thailand, the United Arab Emirates and Yemen.

The 23 member-states of IORA and 10 dialogue partners are expected to join the ministerial and senior official meetings.

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