In the wiki article on BAF it says:
Bangladesh Air Force - Wikipedia, the free encyclopedia
Future Modernization Program
BAF has an ongoing modernization program that includes plan to introduce 20-32 4+ generation fighter aircraft. The chief of air staff of Bangladesh air force, Air Marshal Shah Mohammad Ziaur Rahman has revealed this long-term procurement plan in Defense IQ 2011 International Fighter Aircraft Conference in London. According to him, the aircraft are being evaluated primarily are Mig-29CMT and Lockheed Martin F-16. The Sukhoi Su-30 and SAAB JAS-39 Gripen are also in evaluation.
The order should materialize within 10–15 years according to him. In the meantime one squadron of stop-gap light fighter Chengdu F-7BGI has been ordered and to be delivered in 2012. These aircraft are of new variant are equipped with advanced avionics shall include HOTAS Contol, three MFD display and HUD. The aircraft shall also be equipped with both air-to-air and GPS guided munitions. The existing Mig-29 in inventory shall also be upgraded to Mig-29SMT standard. The air force will also acquire a squadron of Advanced Jet Trainer (AJT) to replace the existing L-39 inventory.
Bangladesh Airforce is signing a contract with Russia for 8 Mig-29 M2, 16 Yak-130 AJT and YAK-152s to replace her age old fleet of PT-6. After two years of receiving these aircraft Bangladesh Airforce will introduce SU-30MK2s.
May 22, 2012 – The Defense Security Cooperation Agency notified Congress today of a possible Foreign Military Sale to the Government of Bangladesh to provide regeneration, overhaul, modifications, and logistics support for 4 Lockheed Martin C-130Es and associated parts, equipment, and training for an estimated cost of $180 million.
Has BAF already decided against F-16 and chose Su-30MK2?
Here is a comparison between Su-30MKI and F-16:
What I got from above discussion is that Russian fighters cannot match the best radar in US ones, so an F16-E/F Block 60 (50-55 million/piece, delivered to UAE) can lock on any Su-xx much earlier than they can even see the F16, which means that Su-xx will be hit before they know what hit them. Russian fighters are good for fancy dog fight maneuvers with thrust vectors, a situation that rarely happens in today's fight for air superiority.
For trainer we should look at the Korean KAI TA-50, which can work as a trainer as well an attack aircraft.
For future military hardware purchase, we need to start moving away from Russia and China towards US and Korea more, as this matches our strategic direction for US Asian Pivot policy. Korea is developing a lot of indigenous projects using and copying US licensed technology, which can be much higher quality than Russian or Chinese hardware, even though it may cost slightly more. But in the long run, Koreans I am sure will provide better training and service than Russians or Chinese, so the total cost of ownership over the life time of the products may actually be lower.