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BD and Brazil see immense trade potential in medicine, health , jute, RMG , food and agri products

BD and Brazil see immense trade potential in medicine, health , jute, RMG , food and agri products

By Mir Afroz Zaman

Bangladesh and Brazil are seeing trade potential in pharmaceutical industry, healthcare, jute and jute products, ready-made garments, food and agricultural products. Both countries can benefit by exploiting the trade potential of the two countries. In this case, the signing of special trade agreements like FTA, PTA will further accelerate this process.

These things came up at the seminar and BTUB match making event organized jointly by The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and Brazil Bangladesh Chamber of Commerce and Industry (BBCCI) at a hotel in the capital on Monday (April 8, 2024) afternoon.

The chief guest of the event, Brazilian Foreign Minister Mauro Vieira, said that in the past decade, there has been great development in the logistics, transport and communication and infrastructure sectors in Bangladesh. Which opened up opportunities for business, trade and industrial expansion. Brazil and Bangladesh have immense potential to expand trade between each other. We want to strengthen trade relations with Bangladesh. At that time, he expressed his interest in exporting agricultural products including meat and wheat to Bangladesh. Mauro Vieira said, Brazil exports cotton to Bangladesh. Which has been instrumental in creating a positive trade relationship for both Bangladesh and Brazil.

Special guest Commerce State Minister Ahsanul Islam Titu said that our relationship with Brazil has been since independence. Our main export product from the country is cotton, the raw material for making garments. Apart from this, there is trade in many products including sugar between the two countries. I think there is a huge opportunity for Brazilian businessmen to invest in Bangladesh in the future.

FBCCI president said that Bangladesh imported goods and services worth about 2.59 billion US dollars from Brazil in the fiscal year 2022-2023. Due to this, the export amount in the country is only 0.17 billion dollars. In such a situation, he drew the attention of the policy makers of the two countries to reduce the trade deficit between the two countries.

BBCCI President Shahriar Ahmed delivered the closing speech on the occasion. FBCCI Senior Vice President Md. Amin Helali, Vice President Khairul Huda Chapal, Shami Kaiser, Rashedul Hossain Chowdhury Roni, BBCCI Vice President Md. Saiful Alam, Ambassador of Bangladesh to Brazil Sadia Faizunnesa, Ambassador of Brazil to Bangladesh Paulo Fernando Dias Ferres, etc.

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