Dhaka is aggressively working to strengthen its ties to Brazil on both a political and economic level, with a focus on the ready-made garment (RMG) industry. On Thursday, October 3, during a courtesy visit to Foreign Secretary Md. Jashim Uddin at the Foreign Ministry, Brazil’s Ambassador to Bangladesh, Paulo Fernando Dias Feres, emphasised this commitment.
Recognising Brazil’s importance as a major economic force in South America, both sides talked about ways to close the current trade deficit between their countries. Given its importance to Bangladesh’s economy, the RMG sector was one of the primary areas of partnership that was highlighted.
Apart from RMG, a range of sectors were covered in the talks, such as public health systems, agro-processing, agriculture, regulatory frameworks, and skill development. Both parties indicated a desire to investigate project funding options in order to encourage additional expansion.
Ambassador Feres pointed out that three Brazilian trade delegations to Dhaka had previously demonstrated Brazil’s extraordinary interest in Bangladesh’s economic growth. Notwithstanding the difficulties brought on by tariffs, he urged businesses from Bangladesh to interact more actively with their Brazilian counterparts.
An agreement was reached at the end of the conference to increase business delegation and trade mission exchanges in order to improve people-to-people relations and promote economic links between the two nations. Plans for Bangladesh’s hosting of the third bilateral political consultation were also disclosed by the foreign secretary.
