Russia is keen to increase its bilateral trade with Bangladesh as the world's largest country wants to strengthen its relation with the south Asian nation, Russian Ambassador to Bangladesh Alexander Vikentyevich Mantitsky said today.

Russia and Bangladesh have historically good relations, he said, adding that his country is proud to be a partner in the development journey of Bangladesh through active participation in various development projects, including the Rooppur Nuclear Power Plant.

The envoy, however, believes the full potential of trade between the two countries is yet to be explored. Moscow wants to improve this relationship, Mantitsky said.

The ambassador spoke in a meeting with the leaders of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) at the trade body's office in Dhaka.

Along with readymade garments, Bangladesh has the potential to export a good number of other items, including light engineering products, plastics, medicines and frozen food, FBCCI President Md Jashim Uddin said.

The lack of direct banking relationship and facility to open letter of credit are restricting the two nations to take benefit of the bilateral trade potential, he said.

The FBCCI signed a cooperation agreement with the then Soviet Union in December 1987.

The FBCCI signed a cooperation agreement with the Chamber of Commerce and Industry of Russian Federation in 2006 and another one with the Union of Moscow Chambers of Commerce and Industry in 2019.

The FBCCI president and the Russian ambassador agreed to re-visit the agreements reached a long time ago.