Russia offers cheaper urea, seeks bigger trade role

Russia has reaffirmed its commitment to strengthening Bangladesh’s food security and expanding trade ties, as Dhaka seeks to import essential commodities, including urea fertiliser, at competitive prices.

The matter was discussed on Tuesday during a meeting between Jute and Textiles Minister Khandakar Abdul Muktadir and a Russian delegation led by Vyacheslav Sentyurin, chargé d’affaires of the Russian Federation in Bangladesh, at the Bangladesh Secretariat.

Joined by Ministry of Industries Secretary Abdun Naser Khan and other senior officials, the delegates focused on deepening longstanding economic ties. 

Key discussion points included food security, agricultural collaboration, fertiliser supply, and expanding government-to-government (G2G) trade mechanisms.

During the meeting, Muktadir praised Russia’s support in ensuring regular supplies of wheat and muriate of potash (MOP) fertiliser to Bangladesh to strengthen food security.

Describing Russia as a trusted friend, he expressed hope that trade and economic cooperation between the two countries would expand further.

The Russian delegation expressed interest in supplying around 2.80 lakh tonnes of urea fertiliser to the Bangladesh Chemical Industries Corporation (BCIC) under a G2G arrangement through Russian state-linked organisation JSC FEC Prodintorg.

The delegation said Russia had offered to supply urea fertiliser at $10 per tonne less than the price Bangladesh currently pays to other suppliers. 

The proposed arrangement is expected to ensure a stable fertiliser supply while reducing import costs.

The meeting also discussed expanding cooperation in essential commodity supplies under an existing memorandum of understanding (MoU) between the Trading Corporation of Bangladesh (TCB) and JSC FEC Prodintorg.

The Russian side expressed interest in supplying sunflower oil, yellow peas, chickpeas, red lentils, green lentils and other essential food items. 

It assured Bangladesh of continued support in maintaining food security and market stability.

Welcoming Russia’s interest in expanding trade, Muktadir said bilateral trade, investment and economic cooperation would be strengthened based on mutual interests and benefits.

Both sides agreed to maintain regular communication to increase trade, promote investment and further strengthen economic ties between the two countries.