New era | CIS-BCCI’s drive to ensure smooth business transactions with CIS countries

The Commonwealth of Independent States-Bangladesh Chamber of Commerce and Industry on Tuesday urged the government to take proactive measures to address obstacles hampering business transactions between Bangladesh and CIS countries.

At a meeting with Minister of State for Planning Shahiduzzaman Sarker at his office in the capital Dhaka, CIS-BCCI President Mohammad Ali Deen said efforts in this regard were crucial in promoting Bangladesh’s economic growth.

The newly elected Board of Directors of CIS-BCCI led by the President held a meeting with the Minister of State.

The trade body briefed the Minister of State about the activities of the CIS-BCCI for promoting trade and economic cooperation between Bangladesh and CIS countries, including Russia, in a bid to diversify the export market.

During the meeting, Mohammad Ali said the main barrier to business transactions between Bangladesh and CIS countries was the lack of banking channel.

He outlined that the Ministry of Finance, the Ministry of Commerce and the Bangladesh Bank should take appropriate steps to streamline financial and banking cooperation between Russia and the other CIS countries and Bangladesh.

He emphasized the continuation of the objectives of the two protocols signed during the IGC (Intergovernmental Commission) meetings between Bangladesh and Russia.

Mohammad Ali also mentioned mutual regulatory cooperation, harmonization of trade rules and setting up of necessary infrastructure including warehouses and distribution networks between Bangladesh and CIS countries.

The Minister of State secured the full support of his ministry in this regard and proposed a detailed action plan, both short-term and long-term, to strengthen trade relations with the CIS countries.

CIS-BCCI vice-president Jadab Debnath, directors Abdul Latif Sarker, Enamul Haque and Khan Md Iqbal, advisor Mahbub Islam Runu and secretary Mustafa Mohiuddin also attended the meeting.