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๐Ÿ‡ง๐Ÿ‡ฉ Bangladesh /Economy & Trade

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From Daily Star · () English

Summarized and contextualized by DistantNews.

At a glance

News Named sources Context piece
  • Bangladesh requested Russia's support for joining BRICS and the Shanghai Cooperation Organisation (SCO).
  • The countries discussed strengthening cooperation among Global South nations in international forums.
  • They also reviewed progress on the Rooppur Nuclear Power Plant and discussed trade and investment.

Bangladesh has formally sought Russia's backing for its membership bids in the BRICS economic bloc and the Shanghai Cooperation Organisation (SCO). The request was made during a bilateral meeting in Moscow between Bangladesh's Foreign Minister, A.K. Abdul Momen, and his Russian counterpart, Sergey Lavrov.

According to a statement from Bangladesh's Ministry of Foreign Affairs, Lavrov responded positively to Dhaka's request for support in joining these key international groupings. BRICS, which has recently expanded, serves as a platform for Global South nations to increase their influence in global governance. The SCO is a major Eurasian political, economic, and security alliance. Bangladesh applied for BRICS membership in 2023 but did not secure sufficient support at that time.

The meeting also covered strengthening cooperation among Global South nations within international forums, including the United Nations. Discussions included progress on the Rooppur Nuclear Power Plant, Bangladesh's first nuclear facility, which is nearing full operational capacity and is expected to supply a significant portion of the country's electricity. Both sides agreed to expand cooperation across various sectors such as industry, energy, agriculture, technology, and defense.

Furthermore, Bangladesh requested Russia's support for a free trade agreement with the Eurasian Economic Commission and sought duty-free, quota-free access for its products in the Russian market. The ministers also discussed opportunities for Russian investment in Bangladesh's special economic zones and hi-tech parks, particularly in manufacturing and information technology. The recruitment of Bangladeshi workers for safe employment in Russia was also on the agenda.

The Russian foreign minister replied positively

โ€” Bangladesh's Ministry of Foreign AffairsReferring to Sergey Lavrov's response to Bangladesh's request for support in joining BRICS and the SCO.
DistantNews Editorial

Originally published by Daily Star. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.