Close on heels of Bangladesh garment exporters expressing apprehensions apparel exports to Russia could take a hit due to the ongoing clash between Russia and Ukraine and more so after Western countries agreed to remove some Russian banks from SWIFT, the financial-messaging infrastructure that serves as the bloodline of global financial system, Bangladesh Finance Minister AHM Mustafa Kamal while expressing hopes ‘the war would stop soon’, added Bangladesh will pursue alternative channels like currency swap to overcome any problem in trading with Russia.
Addressing the reporters recently, the Finance Minister, reportedly, stated, “…we don’t think the war will be long. If so, we will then think of alternative arrangements….”
Further, on being asked anti-Russia sanctions imposed by the European Union and issues pertaining to SWIFT, the minister, reportedly, said Bangladesh will mull alternate measures if the payment system through SWIFT is obstructed.
“…if we are not able to pay to Russia due to the SWIFT’s embargo, we have to take alternative measures…,” added the Finance Minister.