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Bangladesh Proposes Balanced Trade with Brazil, Urges Direct RMG Exports

© AP Photo / Saiful Islam KallalBangladesh's Prime Minister Sheikh Hasina waves to the gathering during an election campaign rally for her ruling Awami League party, ahead of the upcoming national elections, in Sylhet, Bangladesh, Wednesday, Dec. 20, 2023.
Bangladesh's Prime Minister Sheikh Hasina waves to the gathering during an election campaign rally for her ruling Awami League party, ahead of the upcoming national elections, in Sylhet, Bangladesh, Wednesday, Dec. 20, 2023. - Sputnik India, 1920, 08.04.2024
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Bangladesh's Prime Minister Sheikh Hasina has proposed expanding Brazil's import portfolio to include Bangladeshi goods such as jute, jute products and leather goods.
Bangladesh Prime Minister Sheikh Hasina on Monday urged Brazil to directly purchase ready-made garment (RMG) products from Bangladesh during a meeting with a Brazilian delegation led by Foreign Minister Mauro Vieira, Bangladeshi media reports.
"RMG goods from Bangladesh have been being exported to Brazil on a limited scale through a third party. It will be more affordable for Brazil if the country directly imports RMG items from Bangladesh," she highlighted.
To address the imbalance in trade between the two nations, Sheikh Hasina suggested that Brazil could also import additional goods such as jute, jute products and leather items from Bangladesh to achieve a more balanced trade relationship.
"There are huge scopes to increase bilateral trade between Bangladesh and Brazil," she added.
Mauro Vieira also praised the remarkable socio-economic progress achieved by Bangladesh under the wise leadership of Prime Minister Sheikh Hasina.

Similarly, during the bilateral meeting with Bangladeshi Foreign Minister Hasan Mahmud and Brazilian Foreign Minister Mauro Vieira on Sunday, both parties agreed that such efforts would improve business prospects and encourage private sector involvement in Bangladesh, Brazil and other MERCOSUR member states. In particular, this would promote South-South cooperation.

The Foreign Ministers reaffirmed their commitment to start negotiations on a MERCOSUR-Bangladesh Preferential Trade Agreement (PTA) as soon as possible.
MERCOSUR, or the Southern Common Market, originally included Argentina, Brazil, Paraguay and Uruguay as founding members. In 2023, Bolivia will move from associate to full membership of the bloc.
Foreign Minister Hasan noted the growing interest of Global South, including Bangladesh, in joining BRICS.

The Brazilian Foreign Minister confirmed that Bangladesh, representing an emerging perspective from the Global South, could make significant contributions to BRICS in various fields.

The Brazilian Foreign Minister arrived in Dhaka on Sunday morning to discuss bilateral issues and strengthen trade and investment ties with Bangladesh.
Indian Prime Minister Narendra Modi, right, and his Bangladeshi counterpart Sheikh Hasina wave to the waiting media before their delegation level talks in New Delhi, India, Tuesday, Sept. 6, 2022. The relationship between the neighbors is crucial, with India being Bangladesh’s largest trading partner in South Asia. While China is involved in almost all major infrastructure development schemes in Bangladesh, India is also more eager to take up joint projects. (AP Photo) - Sputnik India, 1920, 18.02.2024
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