New initiative in Dhaka–Brazil trade expansion: focus on investment and shipping

Staff Reporter: PNN

Although bilateral trade between Bangladesh and Brazil has reached nearly 4 billion US dollars, policymakers believe it is still limited compared to its potential. Both sides have emphasized the need to expand trade further by introducing direct shipping, increasing investment, and strengthening business communication.

During a high-level meeting held on Friday at the Palácio do Planalto in Brasília, the capital of Brazil, these issues were discussed. Bangladesh was represented by Foreign Affairs Adviser to the Prime Minister Humayun Kabir, while Brazil was represented by Celso Amorim, Chief Adviser to the President.

In the meeting, Humayun Kabir said that the economies of Bangladesh and Brazil can complement each other. Bangladesh currently imports cotton, soybeans, sugar, and various industrial raw materials from Brazil. On the other hand, Bangladesh’s ready-made garments, pharmaceuticals, jute products, and ceramics have significant potential in the Brazilian market.

Participants noted that direct shipping between the two countries would reduce trade costs and decrease dependency on intermediaries. Discussions also included strengthening cooperation in agriculture, technology, health, education, energy, and innovation.

At the beginning of the meeting, greetings were conveyed to the people of Bangladesh on behalf of Brazilian President Luiz Inácio Lula da Silva. Celso Amorim described Bangladesh as an important and emerging voice of the Global South.

The meeting also discussed the upcoming “Foreign Office Consultations” after Brazil’s general elections this year. Both countries expressed hope that several important agreements and cooperation frameworks could be finalized at that meeting.

Highlighting Bangladesh’s new diplomatic stance, Humayun Kabir said that the country’s foreign policy will be guided by equality, mutual respect, and national interest. He also expressed commitment to reviving SAARC to enhance peace and regional cooperation in South Asia.

From the Brazilian side, potential joint initiatives were highlighted in sectors such as technology, renewable energy, digital transformation, public health, and defense research.