If finalised, the agreement will likely be signed at this year’s annual Brazil-Bangladesh bilateral meeting in Dhaka.
Brazil has shown a strong interest in signing a trade and economic agreement with Bangladesh to enhance bilateral commercial ties amid shifting global economic conditions.
During a meeting in Brasília with Bangladesh Ambassador Dr. Md Touhidul Islam, the President of Brazil’s Central Bank, Gabriel Galípolo, welcomed the idea of formal cooperation.
Ambassador Islam proposed a concept paper that addresses tariff reduction, easing banking procedures such as opening Letters of Credit (LCs), and promoting trade and investment.
In response, Brazil plans to send a draft MoU as a foundation for the agreement, which may be signed at the upcoming bilateral meeting in Dhaka.
With bilateral trade already exceeding USD 4 billion, this initiative is viewed as a strategic move for Bangladesh, particularly as it transitions from its LDC status and seeks to diversify its trade partnerships.
