Russia is not just a reminiscence about Bangladesh receiving unwavering support from a superpower in the critical months of nascent nationhood; it has remained a true friend ever since. Therefore of special significance is the following interview given to The Executive Times by His Excellency the Russian ambassador to Bangladesh Dr. Gennady P. Trotsenko.

The Executive Times (ET): How would you regard the existing relations between the two countries?

Dr. Gennady P. Trotsenko (GT): The relations between Russia and Bangladesh are on a positive track. The visit of the Adviser for Foreign Affairs, Government of the People's Republic of Bangladesh, Dr. Iftekhar Ahmed Chowdhury to Moscow in September last year, as a result of which the Consular Convention between our two states was signed and the Joint Statement on Combating International Terrorism was adopted, testifies to good dynamics and good perspectives for the bilateral cooperation. I would not be mistaken if I say that this visit, which revealed the eagerness of both sides to strengthen mutual understanding and interaction in bilateral affairs as well as in the global arena, became a milestone in our relationship and gave it a new impetus. The following meeting of Minister for Foreign Affairs of Russia Mr. Sergey V.Lavrov with Chief Adviser Dr. Fakhruddin Ahmed on the sides of the 62nd session of the UN General Assembly confirmed this trend.

ET: Bangladesh is an LDC.

GT: You know, I have been watching development in the South Asia region for more than 30 years and I have witnessed the tremendous progress of Bangladesh from the very moment of its independence until now. Nevertheless, Bangladesh still belongs to the so called group of the least developed countries and has a hard way to go to reach economy with the middle income indicators. Recently some plans have been revealed to gain this target by 2020. I am confident that it is a realistic scenario of development particularly considering that Bangladesh has already fulfilled some of the Millennium Development Goals (MDG). Last year the Russian Government outlined the Foreign Development Assistance Strategy aimed at helping the least developed countries like Bangladesh to reach MDG, including assistance in cases of natural calamities as well as poverty reduction, infrastructure improvement, power sector development, women empowerment etc. Thus, relying on its own internal resources, business community, good and responsible governance as well as foreign assistance, Bangladesh is able to overcome its difficulties and put itself on the track of the sustainable development. The people of Bangladesh rightly deserve better life condition.

ET: But there are challenges.

GT: Yes. As every other country does Bangladesh faces a lot of challenges on the road to prosperity. In settling all the problems the main role should be played by the national government that exercises the national sovereignty and sets the national agenda. So it is the government that should determine the key obstacles to the economic and social progress and the ways to overcome them. The due efforts of the government should be supported, of course, by the business community of the country. For example, the problem of the climate change is becoming more and more crucial, as it might hamper the development, and its negative consequences could ruin the results that have been achieved so far. Such issues are actively discussed now on national as well as international level.

ET: What has Russia done and will do in future in terms of assisting Bangladesh?

GT: As you are aware Russia (the former USSR) rendered significant political contribution to the establishment of independent Bangladesh. Immediately after the

Liberation War the then USSR was among the first countries which officially recognized Bangladesh and extended its helping hand in order to assist the newly-born country to surmount the difficulties of the post-war period and rebuild its devastated economy. The USSR rendered considerable aid to Bangladesh, played a pivotal role in reestablishing and developing the major sectors of the Bangladeshi economy such as energy and power and infrastructure. Besides, the two countries started a good record of cooperation in military, technical and trade spheres. The USSR also assisted considerably in education and training of thousands Bangladeshi citizens at its institutes and universities.

We are proud of the achievements in various fields of our bilateral co-operation - in the power sector in particular. Construction of the largest power plant of Bangladesh, the TPS Ghorasal, is a brilliant example of this co-operation. The installed total capacity of the station is 950 MW. Another power plant constructed with the Russian technical and financial assistance TPS Siddhirganj (Unit 1) produces 210 MW. The two power plants contribute more than a quarter of total power output in Bangladesh. As for the recent developments in this sphere I may mention in particular the principled readiness of the Russian Government to build TPS Siddhirganj-2 providing for that a state credit, the terms of which should be negotiated between the two sides.

Taking into account the recent acute shortage of wheat and fertilizers in Bangladesh and in response to the official requests of the Bangladesh authorities several Russian companies have agreed to supply these goods.

Our collaboration in the field of education has been developing as well. Since 1996 Russia has resumed the practice of granting annually around 40 scholarships for young Bangladeshi citizens enabling them to study at the top-level Russian educational institutions. Many more Bangladeshis study in Russia on a commercial basis. After coming back home as highly skilled specialists they make solid contributions to the national economy.

As for the humanitarian assistance, the Government of Russia has taken a decision to make a financial donation to the victims of the cyclone "Sidr" through the WFP assigned [project] for the purchase of Russian wheat.

I am confident that the newly set up Russian Bank of Development will become the efficient tool in deepening Russian assistance to socio-economic development of Bangladesh.

ET: Referring to the bilateral trade, the balance is in Russia's favour.

GT: The potential of bilateral trade is [by] far not realized to its utmost. But at the same time in the last several years we have noticed its sustainable growth in volume. According to estimates of the Bangladeshi side the bilateral trade turnover was mere 37 Mln. US$ in 2003, 71 Mln. US$ in 2004, whereas it rose to more than 215 Mln. US$ in 2006. According to Russian Federal Customs Service the current trade turnover between our countries is approximately 230 Mln. US$. About 90% of the bilateral trade is the Russian export but we are also interested in attracting more Bangladeshi products to the Russian market. This is especially justified given the fact that many Bangladeshi export items combine very high quality with low cost.

Major items exported to Russia from Bangladesh include knitwear, woven garments, home textile, jute yarn and twine, raw jute, leather, shrimps etc. Russia supplies to Bangladesh vegetable products as well as products of chemical and allied industries (including fertilizers), machinery and equipment, iron and steel, arms and ammunition, parts and accessories thereof, textile articles etc.

ET: Which Bangladeshi products do you think are most in demand in Russia?

GT: We consider readymade garments, leather, footwear and other items to be in high demand in Russia. Most of them are being exported to Russia indirectly - by European and even American Companies -- as Bangladesh enjoys special export tariff regime of these countries. In order to increase the volume of trade between the two countries and to reduce the trade gap, Bangladesh has asked for duty-free access of its products to Russia. In pursuance of that request Russia has provided duty-free access of 48 Bangladeshi goods. Some more items might be included in the list, RMG in particular, after Russia joins WTO.

Among other products having rather good potential at the Russian market I may also mention frozen seafood, fruits etc. Unfortunately, these goods require quick transportation. In this regard we have been making efforts to restore the direct air connection between Dhaka and Moscow and requested some Russian private airlines to consider this issue. Besides direct air connectivity the set up of the well-developed financial coherency between our two countries is the barest necessity for business activities.

Russian companies nowadays pursue the policy of market diversification and gradually shift from well established but extremely competitive European and American markets to Asian and African ones. As an example I may mention a recent successful visit to Bangladesh of a representative of the Russian tobacco company.

There are many other products which Bangladesh might successfully export to Russia - pharmaceuticals, bicycles, travel accessories, software etc.

ET: What should Bangladesh do to boost its export to Russia?

GT: In order to boost export supplies to Russia Bangladeshi entrepreneurs should be more informed about the Russian market and its requirements. Economic Promotion Bureau, numerous Bangladeshi associations of manufacturers and exporters as well as chambers of commerce and

industry should arrange trade shows (single country fairs) in Moscow and Saint Petersburg as well as in Russian regional centers in order to let Russian consumers get acquainted with high quality and price attractiveness of Bangladeshi goods. The Bangladeshi businessmen are also strongly recommended to continue their participation in international fairs and expos in Russia, like CONSUMEXPO, LEGPROMEXPO (garments trade exposition). Russian people prefer to do business eye-to-eye, at a bargaining table rather than by correspondence. In this regard Bangladeshi entrepreneurs should more often go to Russia and invite potential partners to Bangladesh.

ET: Are we going to see any investment in Bangladesh by the Russian corporate community?

GT: The Russian Embassy in Bangladesh has been consistently informing the Russian corporate community about favorable business climate in Bangladesh, investment projects and advantages of doing business in Export Processing Zones. Among the prospective Russian investment projects in Bangladesh I can name the already mentioned construction of the Unit 2 of the Siddhirganj thermal power plant, offshore exploration in the Bay of Bengal, participation in the construction of the Rooppur Nuclear Power Plant and construction of the Dhaka underground railway. At the same time I am of the opinion that the Bangladeshi authorities as well as the business community ought to be more proactive in attracting Russian investments.

ET: How do you view the cultural ties between the two countries?

GT: Cultural ties play an important role within the gamut of Russian-Bangladeshi relations. The main cultural promoter - Russian Center of Science & Culture (RCSC) -- is working in Dhaka. It is well-known among the Bangladeshi public for its theater shows, film festivals, photo & art exhibitions, educational seminars and roundtable discussions. Besides running a number of clubs and Russian language courses RCSC supports the Russian language studies at Foreign Languages Center of Jahangirnagar University in Savar and Diplomatic Academy under the Ministry of Foreign Affairs of Bangladesh. Still, a lot more should be done. For example, we would favor all kind of cultural, scientific, educational, youth etc. exchanges between the concerned institutions of both the countries. The cultural agreement between Russia and Bangladesh should be also reviewed and updated so that it could envisage the possibility of Bangladeshi cultural groups to show their exquisite art in Russia and of the Russian dance troops to come here.

ET: Finally, what is your assessment of the current political situation in Bangladesh?

GT: The Russian Federation adheres to the principle of non-interference in the internal affairs of sovereign states. Bangladesh is not an exception. The Russian Embassy is watching the dynamics of the political situation in Bangladesh but refrains from making any comments on it.