Brazil and Bangladesh are keen on a free trade agreement.
A free trade agreement will open new avenues for Bangladesh’s goods in the Latin American country. Currently, exports from Bangladesh to Brazil are subject to 35 per cent duties. A bilateral free trade agreement would help Bangladesh’s products enter Brazil with lower tariffs.

In the last fiscal year, Bangladesh’s export earnings reached 177 million dollars in merchandising exports to Brazil, while Bangladesh imported goods worth 1.52 billion dollars from the Latin American country.

Bangladesh imports sugar, wheat, and cotton from Brazil and exports apparel products, pharmaceuticals, plastics, tableware, vegetable textile fiber, jute goods, and manmade filaments.

Bangladesh wants to export knitwear products to Latin America and start using Brazil as a gateway.

Both sides stress the importance of a deeper and stronger engagement in the bilateral and multilateral arena. Both sides have identified areas to expand ongoing cooperation as well as find new opportunities for further bilateral engagements.

A wide range of issues encompassing political and economic cooperation, defense cooperation, trade and investment cooperation, scientific and technical cooperation, and also cooperation in sports sector have been discussed.

Bangladesh has proposed cooperation in agriculture, tourism, cultural exchange and between training institutes of the two countries.