Bangladesh and Brazil recognize the substantial trade potential between their nations, particularly in key sectors such as pharmaceuticals, healthcare, jute and jute goods, ready-made garments, food, and agricultural products.

Both countries acknowledge the necessity of special trade agreements, such as Free Trade Agreements (FTA) and Preferential Trade Agreements (PTA), to expedite bilateral business ventures.

These sentiments were echoed during a seminar and a Business-to-Business (B2B) matchmaking event jointly organized by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the Brazil Bangladesh Chamber of Commerce and Industry (BBCCI) at the Hotel Intercontinental in the capital on Monday.

The meeting was chaired by FBCCI President Mahbubul Alam.

Addressing the gathering as the special guest, state minister for commerce Ahasanul Islam Titu highlighted Bangladesh’s global recognition for its socio-economic development, sustainable growth, women empowerment, poverty alleviation, climate change mitigation, and advancements in ICT and e-governance.

Titu emphasized Bangladesh’s position as the world’s second-largest apparel exporter after China, its status as the largest producer of raw jute—an environmentally friendly fiber, and its significant contributions to rice, vegetable, and freshwater fish production.

He attributed this growth to substantial infrastructure development and optimal resource utilization. He further asserted that Brazil, as a leading country in South America and a burgeoning economic power among BRIC nations, presents new avenues for trade and investment for Bangladesh.

The State Minister for Commerce underscored Bangladesh’s geographical advantage as the gateway to South Asia and ASEAN countries, with close connectivity to India, particularly its northeast region, and China via Kunming.

He urged both countries to seize the opportune moment to enhance bilateral trade and investment by leveraging each other’s strengths.

In his address, FBCCI President Mahbubul Alam emphasized the longstanding bilateral relations between Brazil and Bangladesh spanning over 50 years.

He praised Bangladesh’s robust growth, strategic geographic location, and globally competitive sectors such as textiles, pharmaceuticals, and technology, positioning the nation as a formidable economic force on the global stage.

Alam lauded the visionary leadership of Bangladesh’s Honorable Prime Minister, the architect of Digital Bangladesh, who has set the course for a SMART Bangladesh by 2041 and a 100-Year Delta Plan for sustainable growth aligned with global climate change and SDG goals by 2030.

Brazil, renowned for its abundant natural resources, agricultural prowess, and strong industrial base, remains a key player in Latin America and the global economy.

Alam outlined Brazil’s attractive incentives, streamlined services, e-platforms, and fintech facilities aimed at facilitating ease of doing business and capitalizing on its demographic dividend.

The Brazilian foreign minister, Mauro Vieira, attended the event as the guest of honor.

He commended Bangladesh’s remarkable progress in recent years and highlighted the promising trade and investment landscape.

Vieira expressed Brazil’s eagerness to export meat, wheat, agricultural products, and other goods to Bangladesh, underscoring the mutual benefits of strengthening bilateral trade ties.

Vieira acknowledged Bangladesh’s advancements in logistics, transportation, communication, and infrastructure sectors, which have created conducive conditions for business, trade, and industrial expansion.

He reiterated Brazil’s commitment to enhancing trade relations with Bangladesh and expressed interest in exporting agricultural products, including meat and wheat, to the Bangladeshi market.