The Commonwealth of Independent States-Bangladesh Chamber of Commerce & Industry urged the government on Tuesday to take proactive measures to address the obstacles hindering business transactions between Bangladesh and CIS countries.

During a meeting with the state minister for planning, Md Shahiduzzaman Sarker, held at his office in Dhaka, the President of CIS-BCCI, Mohammad Ali Deen, emphasized the importance of these efforts for fostering the economic growth of Bangladesh.

The newly elected board of directors of CIS-BCCI, led by its president, convened for a meeting with the state minister.

During this session, the trade body briefed the state minister on the activities of CIS-BCCI aimed at promoting trade and economic cooperation between Bangladesh and CIS countries, including Russia, to diversify the export market.

Mohammad Ali pointed out that the main impediment to business transactions between Bangladesh and CIS countries was the absence of banking channel.

He suggested that the finance ministry, commerce ministry, and Bangladesh Bank take appropriate steps to streamline financial and banking cooperation between Russia, other CIS countries, and Bangladesh.

He further emphasized advancing the objectives outlined in the two protocols signed at Inter-Governmental Commission (IGC) meetings between Bangladesh and Russia.

Mohammad Ali also highlighted the importance of mutual regulatory cooperation, harmonization of trade rules, and the establishment of necessary infrastructures, such as warehouses and distribution networks, between Bangladesh and CIS countries.

The state minister assured full support from his ministry in this regard and suggested developing a detailed action plan, encompassing both short-term and long-term strategies, to enhance trade links with CIS countries.

In attendance at the meeting were CIS-BCCI Vice-President Jadab Debnath, Directors Abdul Latif Sarker, Enamul Haque, and Khan Md Iqbal, Adviser Mahbub Islam Runu, and Secretary Mustafa Mohiuddin.