Brazil Seeks Trade Agreement with Bangladesh

Brazil has expressed keen interest in forging a trade agreement with Bangladesh to enhance bilateral trade and economic relations. This announcement was made by Gabriel Galípolo, President of Brazil’s Central Bank, during a meeting with Bangladesh’s newly appointed ambassador to Brazil, Md. Touhidul Islam.

According to a press release issued by the Bangladesh Embassy in Brazil on Saturday, July 26, 2025, the discussions took place during the first formal meeting between the two parties. The press release highlighted that the annual trade volume between Bangladesh and Brazil has already surpassed $4 billion. However, in light of recent global economic challenges, particularly the high tariffs imposed by the United States on both nations, the ambassador emphasized the necessity of a bilateral trade agreement.

During the meeting, Ambassador Md. Touhidul Islam presented a concept paper outlining a potential trade agreement. The proposal included measures to reduce mutually imposed tariffs, resolve issues related to opening Letters of Credit (LC), and foster increased bilateral trade and investment. President Gabriel Galípolo agreed to send a draft Memorandum of Understanding (MoU) for the trade agreement to Bangladesh in the near future. The draft will incorporate the points raised in the concept paper along with additional relevant matters. The Bangladesh Embassy described this development as a historic opportunity for the country. Amid global trade contraction, Brazil’s initiative, as the largest economy in South America, presents a unique opportunity for Bangladesh to address its post-LDC trade challenges and unlock new economic potential.

If all proceeds smoothly, the trade agreement is likely to be signed during the annual Brazil-Bangladesh bilateral meeting scheduled to be held in Dhaka later this year.

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