Russia and Bangladesh are in talks to increase wheat exports

In a recent diplomatic exchange, the Russian Ambassador to Bangladesh, Alexander Mantytskiy, expressed Russia’s commitment to aid Bangladesh in bolstering its food security. This affirmation came during Mantytskiy’s courtesy visit to the Food Minister of Bangladesh, Sadhan Chandra Majumder, to congratulate Majumder on commencing the second term within the food ministry.

An official statement from the ministry revealed that the meeting was also a platform for discussing Bangladesh’s economic strides and the avenues for enhancing bilateral trade between the two nations. Minister Majumder expressed optimism about further fortifying this relationship across diverse sectors, notably trade and investment. He recognized Russia as a pivotal development ally for Bangladesh.

Russian Ambassador articulated the country’s readiness to support Bangladesh in achieving food security. He emphasized the substantial potential for expanded trade and investment engagements between the two countries. Minister Majumder noted that Russia’s increased wheat exports could significantly strengthen the bilateral relations between Bangladesh and Russia.

The discussions come at a time when Bangladesh’s government remains vigilant in ensuring the nation’s food security. As of June 2023, Bangladesh’s total import of food grains stood at 4.93 million metric tonnes, comprising 1.1 million metric tonnes of rice and 3.9 million metric tonnes of wheat. The fiscal year 2023 saw the country spending $2.02 billion on wheat imports, a slight decrease from the $2.13 billion expenditure in the previous year.