Brazil to work with Bangladesh to increase trade: Brazil ambassador
Brazil, the largest economy in South America, will leave no stone unturned to increase trade relations with Bangladesh as the latter has become a new economic giant in the South Asian region.
New Brazil Ambassador to Bangladesh Paulo Fernando Dias Feres expressed this while talking to The Business Standard at his Gulshan office on Tuesday.
He arrived in the city on Sunday.
New Brazil Ambassador Paulo Fernando Dias Feres will present his credentials to President Abdul Hamid at Bangabhaban in the city soon.
Paulo Fernandos Dias Feres has succeeded Joao Tabajara De Oliveira Junior after the latter left Dhaka last month.
Bangladesh's economy has been growing steadily over the years and the country has contained Covid-19 successfully. Bangladesh has also become a member of the middle-income group this year, he said.
Bangladesh is now the 41st largest economy in the world, according to new data of the International Monetary Fund (IMF).
Bangladesh and India were the only two South Asian countries considered to be part of the 50 largest economies of the world.
Brazil is the fourth largest cotton producer and second top exporter while Bangladesh is the second largest cotton importer in the world.
In 2022, according to the International Monetary Fund (IMF), Brazilian nominal GDP was US$1.833 trillion. The GDP per capita was US$8,570. Brazil has a long history of being among the ten largest economies in the world and is rich in natural resources.
In 2020, Brazil exported goods valued $1.53 billion to Bangladesh. The main products that Brazil exported to Bangladesh are cane or beet sugar and chemically pure sucrose, in solid form ($628M), cotton not carded or combed ($314M), and soybeans, whether or not broken ($237M).
During the last 25 years the exports of Brazil to Bangladesh have increased at an annualised rate of 11.1%, from $110 million in 1995 to $1.53 billion in 2020.
In 2020, Bangladesh exported goods valued at $132 million to Brazil. The main products that Bangladesh exported to Brazil were jerseys, pullovers, cardigans, waistcoats and similar articles; knitted or crocheted ($26.3M), shirts; men's or boys' (not knitted or crocheted) ($19.5M), and suits, ensembles, jackets, blazers, trousers, bib and brace overalls, breeches and shorts (other than swimwear); men's or boys' (not knitted or crocheted) ($19M).
During the last 25 years the exports of Bangladesh to Brazil have increased at an annualised rate of 9.08%, from $15.1 million in 1995 to $132 million in 2020.
Bangladesh, Brazil sign visa exemption agreement
Bangladesh and Brazil have signed a visa exemption agreement to mark 50 years of diplomatic relations between the two countries.
State Minister for Foreign Affairs Md Shahriar Alam, who is on a four-day maiden official visit to Brazil, signed the "Agreement on the Exemption of Visa for Diplomatic and Official Passports", said a press release.
Brazilian Foreign Minister Carlos Alberto Franco França signed the agreement on behalf of his government.
A high-profile business delegation led by the Federation of Bangladesh Chambers of Commerce & Industries (FBCCI) President Jashim Uddin and the representatives of the Bangladesh-Brazil Chamber of Commerce (BBCC) accompanied the state minister during the visit.
On 18 July, the state minister delivered a lecture for trainee diplomats at the Rio Branco Institute (Foreign Services Academy of Brazil) in Brasília. More than 100 guests, including high officials from the host government, ambassadors, members of the diplomatic corps, civil society, trainee diplomats, journalists along with members of FUNAG (Research Institute for International Relations) attended the event.
Stressing the geo-strategic importance of Bangladesh, he explained how Bangladesh is connecting South Asia and Southeast Asia.
He also highlighted the unprecedented socio-economic growth in Bangladesh under the leadership of Prime Minister Sheikh Hasina.