Trade Scenario Between Bangladesh and Brazil

Trade Scenario Between Bangladesh and Brazil

Trade agreement between the Government People’s Republic of Bangladesh and the Government of the Federative Republic of Brazil was signed on 13.02. 1976.

TRADE AGREEMENT BETWEEN THE GOVERNMENT OF THE PEOPLE’S

REPUBLIC OF BANGLADESH AND THE GOVERNMENT OF THE FEDERATIVE REPUBLIC OF BRAZIL

The Government of the People’s Republic of Bangladesh and The Government of the Federative Republic of Brazil, hereinafter referred to as the Contracting Parties,

being desirous of strengthening the friendship traditionally existing between them, and of promoting close economic and commercial relation between their countries, have AGREED as follows:

The contracting Parties shall, within the framework of their laws and regulations as in force from time to time, afford necessary facilities for the import export of commodities mentioned in the agreed Schedules. They shall also provide facilities for import into and export from either country for commodities not specifically mentioned in the Schedules.

The Contracting Parties agree that re-export of goods and commodities as mentioned in the Schedules to the Agreement shall not be allowed to any third country without prior approval of the other Party.

Each Party shall accord to the commerce of the other Party the most favored-nation treatment.

In order to facilitate the implementation of the Agreement, the Contracting Parties agree to consult each other in respect of any matter arising from or in connection with trade exchange between the two countries.

For the implementation of this Trade Agreement the Contracting Parties may conclude commodity exchange protocols and other arrangements aiming at facilitating and expanding of exchange of goods and other economic relations between the two states.

Payments for goods and services exchanged between the two countries shall be made in convertible currency subject to foreign exchange regulation of the country concerned.

 The Contracting Parties agree to accord each other subject to their respective laws and regulations, facilities for the holding of trade fairs and exhibitions and visits of businessmen and trade delegations.

 1) This Agreement shall be submitted for approval to the competent authorities of each of the Contracting Parties, according to their respective constitutional provisions.

2) Each of the Contracting Parties shall notify the other of the conclusion of the necessary formalities and the Agreement shall come into effect for the date of the receipt of the last notification by either Party. The Agreement shall remain in force for a period of one year and be extended automatically for successive periods of one year.

This Agreement, subject to such modification as may be agreed upon by mutual consent of the Contracting Parties, may be terminated upon written notice, provided that such notice is given at least three months before the expiry of any annual period.

List of Exportable items from Bangladesh to Brazil

1. Raw Jute 2. Jute Manufactures including Jutex/Jutton 3. Paper and Newsprint 4. Paper board including Hard /Chip/Particle board 5. Silk and silk products 6. Fish processed & canned including shrimps 7. Handloom products 8. Tea 9. Molasses 10. Coir and coir products 11. Frog legs 12.Tobacco 13. Spices (all sorts) 14. Crude herbs and drugs 15. Oil cakes 16. Human and animal hair 17. Shellac/ Lac 18. Brooms & Brooms stick 19. Sharkfins and fish maws 20. Cotton waste & Linters 21. Animal casing 22. Alcoholic beverages 23. Pharmaceuticals 24. Wires & Cables

25. Chemicals (Glycerine) 26. Leather (Cow hides) and finished leather goods 27. Hurricane lanterns/ Kerosene cookers 28. Rayon Yarn 29. Cellophane paper 30. Safety matches 31. Melamine products 32. M.S. pipes 33. Carpets / mats 34. Fabric Flex 35. Crushed bones 36. Catechu

List of Exportable Items from Brazil to Bangladesh

Coffee, green 2. Cotton Wool 3. Beans and seeds of oleaginous fruits 4. Vegetable oils 5. Fruits juice 6. Instant coffee 7. Rice 8. Products of chemical industries 9. Waxes 10. Textiles 11. Metallurgical minerals 12. Base metals and articles thereof 13. Sulpher Powder 14. Pumps, motor pumps, and turbo-pumps for liquid, air and vacuum 15. Refrigerating machines 16. Pulverizers or dusters for agriculture 17. Machines and apparatus for lifting, charging, discharging and moving. 18. Earth moving machines 19. Sewing machines 20. Machines for leather industry  21. Machines and apparatus for working wood and metals 22. Machines for working soil 23. Equipment for food industry 24. Electrical machinery and apparatus 25. Tools 26. Domestic appliances 27. Automobile vehicles and spare parts 28. Cement 29. Footwear 30. Locomotives.

Export and Import Statistics Between Bangladesh and Brazil ( Value in milliom US$)

The export potential of Bangladesh’s current export commodities to Brazil (top ten items)

Source: Authors’ compilation from ITC Export Potential Map

Top 20 Exported Item in Brazil for the year 2020-2021:     

                                                                                  Total Export Amount:  88,015,434.18 USD