Mohammad Hatem, president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), claims that a number of Bangladeshi exporters of ready-made clothing are having trouble getting US $ 7.6 million back from Russian purchasers due to transactional issues. The unpaid amount has remained unsettled for over a year, affecting a total of fourteen exporters who shipped goods to Russia.
Hatem shared these details during a meet-the-press event focused on current challenges in the sector and the upcoming BKMEA election, organised by the Progressive Knit Alliance, one of the contesting panels.
Addressing the issue, Hatem explained that the transaction complications primarily hindered payments from Russian buyers. To resolve the matter, he proposed offsetting the outstanding debt against Bangladesh’s payable dues for the Rooppur Nuclear Power Plant through a barter system. Due in significant part to US sanctions during the Russia-Ukraine conflict, Bangladesh has also had difficulty paying Russia for the nuclear project.
Bypassing financial transactions, a barter system exchanges products and services directly. Hatem emphasised this approach as a potential solution to the current payment impasse.
