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Brazilian FM welcomes Bangladesh’s interest in Preferential Trade Agreement

Daily Sun | 7 April 2024

Brazilian FM welcomes Bangladesh’s interest in Preferential Trade Agreement

Brazilian Foreign Minister Mauro Vieira on Sunday welcomed Bangladesh’s interest in reaching a MERCOSUR-Bangladesh Preferential Trade Agreement (PTA) during a meeting with Bangladeshi foreign ministry officials in Dhaka.

At the bilateral meeting, the two sides concurred that this endeavour would enhance business opportunities and foster private sector engagements between Bangladesh, Brazil and other MERCOSUR state parties, significantly contributing to the promotion of South-South cooperation.

The two sides expressed their resolve to work toward the commencement of the process for reaching a MERCOSUR-Bangladesh PTA at the earliest.

MERCOSUR, or the Southern Common Market, is an economic and political bloc originally comprising Argentina, Brazil, Paraguay, and Uruguay. Bolivia, previously an associate member, gained full membership in 2023.

The Bangladesh-Brazil bilateral meeting was held at state guesthouse Jamuna in Dhaka and the signing of the basic Agreement on Technical Cooperation between Bangladesh and Brazil was welcomed.

This is the first-ever foreign minister-level visit from Brazil.

The two sides held "productive discussions" on bilateral relations, international and regional initiatives, and multilateral cooperation.

Bangladesh and Brazil agreed on the importance of increasing cooperation and exchanges in the fields of agriculture, livestock, science, technology and innovation, education, climate change and energy transition, and technical cooperation, among others, according to a joint statement.

Foreign ministry high officials from both countries warmly welcomed the conclusion of negotiations on an MoU on sports cooperation to be signed at an appropriate moment by the sports ministries concerned.

The proposed MoU represents a significant milestone that mirrors the enduring bond between the peoples which has been cherished for generations, the joint statement read.

A foreign ministry official in Dhaka emphasised the growing interest of countries from the Global South to join BRICS, including Bangladesh.

The Brazilian Foreign Minister affirmed that Bangladesh, as an emerging voice of Global South, could offer substantial contributions to BRICS on a number of issues.

The Brazilian Foreign Minister arrived in Dhaka on Sunday morning to discuss bilateral issues and strengthen trade and investment ties with Bangladesh.

Foreign Secretary Masud Bin Momen received Mauro Vieira at Hazrat Shahjalal International Airport in Dhaka upon his arrival.

The foreign minister of South America’s most influential country will meet Prime Minister Sheikh Hasina on Monday.
He visited Bangabandhu Memorial Museum at Dhanmondi 32 on Sunday afternoon and paid tribute to Father of the Nation Bangabandhu Sheikh Mujibur Rahman.

State Minister for Commerce Ahsanul Islam Titu also met the Brazilian Foreign Minister at his place of residence.

After his meeting with PM Hasina, Mauro Vieira will visit Square Pharmaceuticals facilities and Beximco Industrial Park in Gazipur.

On Monday afternoon, the Brazilian Foreign Minister is scheduled to deliver a lecture on Brazil’s priority areas at G20 as the current chair. The event will be held at Foreign Service Academy at 3pm.

The Brazilian foreign minister together with a business delegation will meet business leaders in Dhaka.
FBCCI, Bangladesh’s apex trade body, will host an iftar and dinner in honour of the Brazilian delegation on Monday evening.

The government of Brazil earlier congratulated Prime Minister Sheikh Hasina on her latest election victory.

Brazil expressed its willingness to continue deepening relations with Bangladesh, in favour of the development of both countries, the promotion of South-South cooperation, and the fight against poverty, hunger, and climate crisis.
Brazil-Bangladesh diplomatic relations, established in 1972, have strengthened in recent years.

In 2023, President Lula and Prime Minister Sheikh Hasina met on the sidelines of the BRICS Summit in South Africa.
Last year, bilateral trade between Bangladesh and Brazil reached the US$2.3 billion mark.

The Brazilian Foreign Minister is scheduled to leave Dhaka at 11:55 pm on Monday.

Additional Foreign Secretary (Bilateral) Dr Nazrul Islam will be there at the Dhaka airport to see him off.

 source: Daily Sun