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Bangladesh’s export to Russian Federation crossed $300 million mark during January-July period of the current calendar year.
Latest statistics, available with the Export Promotion Bureau (EPB), showed that merchandise export to Russia stood at $309.95 million in the first seven months of 2017.
Russia provides duty-free market access to around 39 per cent of the products keeping major exportable ready-made garments (RMG) out of the benefit.
Bangladesh, however, is thinking to negotiate a trade deal with Eurasian Economic Union (EEU) to get tariff-free market access to Russia along with Armenia, Belarus, Kazakhstan, and Kyrgyzstan.
The annual export to Russia stood at $464.62 million in the past fiscal year (FY17).
According to the latest statistics of the World Trade Organization (WTO), Russia was the 18th largest importer of the world in 2016. The country’s annual import stood at $72.87 billion in the year.