The ministers will hold discussions today on the current state and prospect of bilateral relations and regional and international issues including the fight against terrorism.
Bangladesh and Russia deepened their ties in January 2013 when Prime Minister Sheikh Hasina paid a state visit to Russia, signing agreements on cooperation in such areas as the military and energy.
Their resolve to further consolidate partnerships in various areas was reaffirmed during a meeting between Hasina and her Russian counterpart Dmitry Medvedev on the sidelines of the 11th summit of the Asia-Europe Meeting (ASEM11) in Ulaanbaatar, Mongolia, in July last year.
Trade between the two countries amounted to $1.44 billion in 2016, which nearly equalled the record high figure of 2015. Of the total Russian exports worth around $767.2 million, machinery and equipment accounted for $322.2 million and agricultural products $300.2 million.
In 2014, the Russian state energy giant Gazprom EP International BV fulfilled its obligations under the 2012 contract for drilling 10 wells at gas fields in Bangladesh, and the following year Gazprom signed contracts for the drilling of five more wells which were all implemented in November last year.
The countries also inked another deal last month on the establishment of an intergovernmental commission on trade, economic, scientific and technical cooperation.