Brazil urged to import RMG products from Bangladesh

Prime Minister Sheikh Hasina

Prime Minister Sheikh Hasina of Bangladesh has underscored the importance of strengthening bilateral trade relations between Bangladesh and Brazil during a meeting with a delegation from Brazil, led by its Foreign Minister Mauro Vieira. In her remarks, she highlighted the potential for expanding trade between the two countries and suggested direct imports of Readymade Garment (RMG) products from Bangladesh to Brazil.

Direct Import of RMG Products: Prime Minister Hasina emphasized the potential benefits for Brazil in directly importing RMG products from Bangladesh. She noted that currently, such imports are conducted through third-party channels, and direct imports would likely be more cost-effective for Brazil.

Trade Balance: Sheikh Hasina highlighted the need to address the trade imbalance between Bangladesh and Brazil, which currently tilts significantly in favor of Brazil. She suggested that Brazil could import additional products such as jute goods and leather items from Bangladesh to help balance trade relations.

Scope for Expansion: The Prime Minister emphasized the vast potential for increasing bilateral trade between Bangladesh and Brazil. While Bangladesh primarily imports sugar, soybean oil, and cotton from Brazil, she suggested that there are ample opportunities to diversify and expand the range of traded goods between the two countries.

Enhancing Relations: Sheikh Hasina stressed the importance of enhancing the existing bilateral relations between Bangladesh and Brazil. Strengthening trade ties could serve as a catalyst for broader cooperation and collaboration in various sectors, benefitting both nations.

Prime Minister Sheikh Hasina's call for enhancing bilateral trade relations between Bangladesh and Brazil reflects a commitment to maximizing the economic potential between the two countries. By advocating for direct imports of RMG products from Bangladesh, addressing trade imbalances, and exploring opportunities for expansion, both nations can work towards fostering mutually beneficial partnerships and greater economic prosperity.