Brazil’s Chamber of Commerce and the Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) have signed an MoU to boost two-way Brazil-Bangladesh textile-apparel trade. The MoU will enable Bangladesh to penetrate deeper into Brazil market for its textile products, while boosting cotton imports from the country. Bangladesh depends on Brazil for cotton imports. On the other hand, it exports readymade clothes to the country.

However, Brazil’s imports of readymade garments have been on decline since March 2022. Imports decreased to $8.15 million in June from $10.379 million of May 2022. Annually, Brazil’s apparel imports from Bangladesh decreased to $99.700 million in 2021 from 111,984 million in 2022. Import peaked at $193.407 million in 2018. However, home textiles import of Brazil from Bangladesh was negligible at $1.125 million in 2021.

On the other hand, Brazil’s export of cotton to Bangladesh declined to $44.633 million in June from $46.387 of May 2022. Brazilian export of cotton to Bangladesh increased to $437.492 million in 2021 from $323.441 million in 2020.