Bangladesh assessing possibility of setting up warehouses in Russia

Russia has long been considered a promising export destination which could help Bangladesh garment exporters reap rich dividends.

Consequently, the apex garment makers’ bodies of Bangladesh – the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) and the Bangladesh Garments Manufacturers and Exporters Association (BGMEA) – have proposed the Commerce Ministry to set up warehouses and display centres in Russia to promote Bangladesh’s exports.

The Commonwealth of Independent States-Bangladesh Chamber of Commerce and Industry (CIS-BCCI), reportedly, first made the proposal to set up warehouses and display centres in different cities of Russia, including in St. Petersburg and Moscow, to particularly promote exports by SMES.

As per media reports, following the requests from the business community and recommendation from Bangladesh embassy in Moscow, Bangladesh Government is now assessing options of establishing warehouses and display centres in the Russian Federation, especially with a focus on boosting export products made by the SMEs.

Meanwhile, speaking to the media, BGMEA senior Vice-President Faisal Samad reportedly maintained that BGMEA and Bangladesh embassy in Russia are jointly analysing prospects of setting up display centres and warehouses.

Underlining that setting up display centres and warehouses in Russia and some other destinations would facilitate export of items manufactured by the SMEs from RMG, leather, handicrafts, jute and other sectors without having expertise and capacity to conduct export procedures, CIS-BCCI adviser Manzur Ahmed reportedly informed media that countries like India, Vietnam, Cambodia and China already have warehouses and display centres in Russia and other countries.