Russia has offered to supply urea fertiliser to Bangladesh at $10 less per metric ton than the price currently paid to other supplier countries. Furthermore, they expressed interest in expanding government-to-government (G2G) trade and broader economic cooperation.
The proposal was discussed during a courtesy meeting between Commerce, Industries, Jute and Textiles Minister Khandakar Abdul Muktadir and a Russian delegation led by Chargé d’Affaires of the Russian Federation in Bangladesh Vyacheslav Sentyurin at the Ministry of Commerce on Tuesday. Respective officials including Industries Ministry Secretary Abdun Naser Khan, were present.
During the meeting, the Russian delegation expressed interest in supplying about 280,000 metric tons of urea fertiliser to Bangladesh Chemical Industries Corporation (BCIC) through JSC FEC Prodintorg under a G2G arrangement, said a press release from the Ministry of Commerce.
JSC FEC Prodintorg is a Russian state-owned enterprise under the Ministry of Agriculture engages in government-to-government (G2G) trade arrangements with Bangladesh to supply essential commodities, wheat, and urea fertiliser.
The delegation said Russia had proposed supplying the fertiliser at $10 per metric ton less than the prices Bangladesh currently pays to other countries from which it imports urea.
Discussions also covered food security, agricultural cooperation, fertiliser supply and expanding G2G trade between the two countries.
Commerce Minister praised Russia’s support in ensuring regular supplies of wheat and muriate of potash (MoP) fertiliser to Bangladesh and described Russia as a trusted friend. He expressed hope that trade and economic cooperations between the two countries would expand further.
The meeting also discussed increasing cooperation under the existing memorandum of understanding between Trading Corporation of Bangladesh (TCB) and JSC FEC Prodintorg for the supply of essential commodities.
The Russian side expressed interest in supplying sunflower oil, yellow peas, chickpeas, red lentils and green lentils to Bangladesh and assured continued cooperation in supporting the country’s food security and market stability.
Minister Khandakar Abdul Muktadir welcomed Russia’s interest in expanding trade and said Bangladesh would work to increase bilateral trade, investment and economic cooperation based on mutual interests and benefits.
Both sides agreed to maintain regular communications to strengthen bilateral trade, increase investment and deepen economic partnership.
