Bangladesh eager to sign FTA with Eurasian Economic Union
12 Jan 22 2 min read
These five Eastern European countries have over $1.5 billion annual bilateral trade with Bangladesh, which, Bangladesh commerce ministry officials think, can rise manifold if an FTA is inked.
Bangladesh and the EEC signed a memorandum of cooperation in Moscow in May 2019 to take forward bilateral trade. Later, a working group was formed to enhance trade and economic cooperation in 19 sectors.
The first meeting of the working group was held in November last in Moscow, with the Bangladesh side led by commerce ministry additional secretary Noor Mohammad Mahbubul Haq while the EEC side headed by its board member Sergey Glaziev.
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- Bangladesh’s forex reserves to steady within months, Moody's predicts
- Fitch Ratings downgrades Bangladesh to B+; outlook stable
- Ex-Bangladesh Bank head backs continuing cash incentive for exports
- Bangladesh RMG sector calls for tax relief, incentives in FY25 budget
In the meeting, Bangladesh expressed interest in concluding an FTA with the EAEU and the EEC suggested sending a formal proposal in this regard, according to Bangla media reports.
In fiscal 2019-20, Bangladesh exported goods worth $398 million to EAEU member states while imports from there were worth $1.106 billion.
Fibre2Fashion News Desk (DS)
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