Bangladeshi companies’ chance to increase trade with Brazil
Bangladesh government has taken an initiative to promote bilateral trade with Brazil. Keeping this aim in mind, the government is going to sign an agreement with Brazil soon. The agreement will reduce export duty which will help of the local Bangladeshi companies.
The government wants a duty free market access for its product in the market of Brazil. It is hoped that by signing this agreement, mutual relationship between the two countries will also improve.
The progress was made after the chairperson of Export Promotion Bureau has proposed the Brazilian Ministry of Industry, Development and Trade to ask government to reduce the export duty. He also invited the Development, Industry and Trade minister to visit Bangladesh. He also wished to participate in the next international trade fair held in Brazil so that Bangladeshi companies including PRAP Group, Walton and Partex Group can display their products in the fair.
Quite positively the readymade garments have already gained market demand in Brazil. Since the balance of trade is in favor of Brazil, the Chairperson of EPB has urged to sign the agreement. It is expected that local companies and businessmen will make the most out of the agreement in long term.
The government wants a duty free market access for its product in the market of Brazil. It is hoped that by signing this agreement, mutual relationship between the two countries will also improve.
The progress was made after the chairperson of Export Promotion Bureau has proposed the Brazilian Ministry of Industry, Development and Trade to ask government to reduce the export duty. He also invited the Development, Industry and Trade minister to visit Bangladesh. He also wished to participate in the next international trade fair held in Brazil so that Bangladeshi companies including PRAP Group, Walton and Partex Group can display their products in the fair.
Quite positively the readymade garments have already gained market demand in Brazil. Since the balance of trade is in favor of Brazil, the Chairperson of EPB has urged to sign the agreement. It is expected that local companies and businessmen will make the most out of the agreement in long term.
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