Commerce Minister Tipu Munshi announced this after a meeting with Russian Ambassador to Bangladesh Alexander Ignatov at his secretariat office in Dhaka on Tuesday. “Bangladesh has been maintaining a good relation with Russia in terms of trade and commerce. But the bilateral trade and commerce did not increase as per expectations due to some complexities,” explained Tipu Munshi. "The MoU will allow banking transactions between the two countries to reduce difficulties related to trade and commerce," said Tipu. Currently, there are no banking transactions between Bangladesh and Russia, and trade is being done through Telegraphic Transfer (TT).

Source: Dhaka Tribune February 26, 2019 16:07 UTC