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Sergei Glazyev stressed that the trade between the EAEU countries and Bangladesh has increased sixfold over ten years.

"Even last year, despite the difficulties, we had an 11% growth to USD 2.6 billion. Our trade is balanced, its positive dynamics allows us to count on the further use of joint competitive advantages," the EEC Minister noted. "A significant part of our export is made up of machinery, equipment and vehicles – over 40%. From Bangladesh, we receive high quality consumer goods: textiles and knitwear, food products, seafood."

"We believe that it is quite possible to reach a trade turnover of USD 3 billion and we could set such a task," Sergei Glazyev said. "There are unrealized opportunities to increase trade due to agricultural products, machinery, equipment, vehicles, pharmaceuticals, and other types of products with a relatively high level of added value.

Trade in such goods serves the basis for trade turnover growth in recent years, which is accompanied by an increase in the volume of mutual investments, trade in services and, as a result, the emergence of new cooperative ties."

In his turn, Nur Mahbubul Haq expressed interest in deepening cooperation between the EEC and the Government of Bangladesh, noting that the EAEU is of interest to the country not only as a trade and economic partner but as a strategic one as well. Good background for maintaining trade and economic cooperation between the EAEU and Bangladesh is the country's achievement of relatively high rates of economic growth (7 – 8% in the pre-pandemic period and about 5% this year) as well as energy and satellite communication projects implemented in Bangladesh with the participation of companies from the EAEU countries. The Bangladesh government's plans to implement economic reforms, including create special economic areas, are expected to move the country out of the category of the least developed Asian countries by 2030.

The parties identified cooperation in energy, manufacturing and pharmaceutical industries, production of environmentally friendly products, transport infrastructure and others as their top priorities.

Establishing direct interaction between the EAEU Business Council and the Federation of Bangladesh Chambers of Commerce and Industry will assist in implementing these plans. Such preliminary agreement was reached at the initiative of Danil Ibraev, President of the Kyrgyz Union of Industrialists and Entrepreneurs, who attended the meeting.

The working group meeting was preceded by expert consultations where the parties exchanged their views on the EAEU functioning, in particular the Union's international activities, competition policy, customs administration and others.

Following the meeting, the parties agreed to develop a joint action plan until 2025. Its execution is scheduled for 2022.