Belarus-Bangladesh Sign Agreement on Trade and Economic Cooperation

On 29 May, the Ministry of Foreign Affairs of Belarus hosted a ceremony of signing an intergovernmental agreement on trade and economic cooperation between Belarus and Bangladesh. The document was inked by Deputy Foreign Minister of Belarus, Viktar Gaisenak, and Ambassador of Bangladesh to Russia and Belarus (on concurrent), Amir Hussain Sikder.

“This is the first intergovernmental agreement signed since our countries established the diplomatic relations. We hope it will promote development of the bilateral relations in trade-economic sphere and strengthen the political cooperation between our states”, Mr. Gaisenak underlined.

In turn, Mr. Sikder expressed confidence that the document will improve the trade-economic ties and promote cooperation of business circles of the two countries. According to him, the document will become “the first one among the forthcoming agreements”.

The diplomatic relations between Belarus and Bangladesh were established on February 21, 1992.

In 2006 the trade turnover between the two states made up $23.2 million, or 44.8% up as against 2005, export - $22 million (43.6% up), import – $1.2 million (66.7% up). Belarus posted a trade surplus at the amount of $20.8 million.

Belarus has been exporting mainly potash fertilizer and synthetic fibres to Bangladesh, and importing jute yarn, tobacco, textiles from that country.