Trade and Economic cooperation

The Agreement between the Government of the Republic of Belarus and the Government of the People's Republic of Bangladesh on trade and economic cooperation entered into force in May 2012.

As part of this Agreement, the Belarusian Part of the Joint Belarusian-Bangladesh Commission on Trade and Economic Cooperation was created, the first Session of the Joint Commission was held on April 23, 2019 in Minsk.

The work is underway to hold the second meeting in Dhaka in 2022.

The Joint Belarusian-Bangladesh Commission is Co-Chaired by Deputy Minister of Foreign Affairs of Belarus Mr. Sergei Aleinik from the Belarusian side was and by Minister of Commerce of Bangladesh Mr. Tipu Munshi from the Bangladeshi Side.

The Honorary Consulate of the Republic of Belarus operates in Dhaka, the Honorary Consul is Mr.Aniruddha Kumar Roy.

Dynamics of Trade and Economic exchanges between the Republic of Belarus and the People's Republic of Bangladesh, million USD

In 2021, trade with Bangladesh increased to 177.0 million USD (156.2 percent), of which Belarusian exports increased significantly to 149.8 million USD (171.8 percent), imports increased to 27.2 million USD (104.1 percent). The balance is positive — 122.6 million USD.

The structure of Belarusian exports to the People's Republic of Bangladesh in 2021

(main headings)

Potash fertilizers

Dried and condensed milk and cream

Insulated wires and cables

Wood pulp

Newsprint in rolls and sheets

Milk serum

Corners, non-alloy steel profiles

Pipes, tubes and profiles made of ferrous metals

Paints and varnishes

Import of Bangladeshi goods to the Republic of Belarus in 2021

(main headings)

Vegetables

Fruits

Textiles, men's and women's clothing

The successful implementation of the framework agreement between the OJSC Development Bank of the Republic of Belarus and the Government of the People's Republic of Bangladesh for the Belarusian credit loans scheme resulted in signing of the contract for the supplies of the “Amkodor” road construction equipment to Bangladesh amounted to 50 million USD. This landmark contract laid a solid foundation for the development of the long-term cooperation.

The next stage is defined as concluding the contracts for 17 million USD (at the stage of final approval) and a commercial offer of the Belarusian side for 100 million  USD as a part of the Framework Agreement.

In April 2017, on the basis of the RMM Integrated Agro Industries Ltd. (company of the Honorary Consul of the Republic of Belarus in Bangladesh A.K. Roy) the official opening ceremony of the “Amkodor” service center of the joint venture Amkodor Palash Industrial Zone was held in Bangladesh.

In the first quarter of 2018, a trial batch (three units) of bulldozers manufactured by OJSC “BelAZ” was supplied to the Bangladesh market. 

The project of the possible supplies of the Belarusian lifts and elevators produced by the JSC “Mogilevliftmash” is in development – there are two potential Bangladeshi partners for this development. In March 2019, the director of the Bangladeshi company “KP Group” Mr. A.R. Kaiser visited Mogilev.

On March 17-20, 2021, a visit was made to Bangladesh and negotiations with Bangladeshi partners of the Belarusian delegation headed by Deputy Minister of Industry Kharitonchik D.I., which included representatives of “Amkodor”, MAZ, “Belkommunmash” and “Promagroleasing”.

In 2021, the export of services from Belarus to Bangladesh increased sharply and amounted to 103.9 million USD (an increase of 4.7 times compared to 2020). Of these, more than half were other business services worth 57.4 million USD (an increase of 218 times) and almost half were exports of transport services worth 44.1 million USD (a growth rate of 219.3 percent). Services were also rendered in the field of construction for 1.0 million USD (85.2 percent), in the field of education for 0.4 million USD (an increase of 3.8 times). The balance of Belarusian-Bangladeshi trade in services is positive and amounted to 102.4 million USD in 2021.