Bangladesh exploring apparel exports to Russia

BANGLADESH: Exploring apparel exports to Russia

By Siddique Islam | 16 August 2012

A delegation from Bangladesh is due to visit Russia later this year to explore opportunities for apparel exports following the country's accession to the World Trade Organization (WTO) next week.

Russia will become the WTO's 156th member on 22 August, and the Bangladesh government hopes to take advantage of WTO rules and regulations as a least developed country (LDC) to enter the Russian apparel market.

Shubhashish Bose, vice chairman of the state-run Export Promotion Bureau (EPB), told just-style that the delegates visiting the country hope to discuss issues including opening letters of credit (LCs) to smooth apparel exports into the country.

The US$1.9 trillion Russian economy is the ninth largest in the world.

"We'll discuss rules relating to customs during the formal meeting with Russian officials," Bose said, adding that the delegation will also call for a tariff structure in line with the WTO framework.

Sectors: Apparel, Manufacturing, Sourcing