Brazil–Bangladesh Trade: Decadal Trends, Export-Import Opportunities, and Investment Prospects

Md. Joynal Abdin
Founder & Chief Executive Officer, Trade & Investment Bangladesh (T&IB)
Executive Director, Online Training Academy (OTA)
Secretary General, Brazil Bangladesh Chamber of Commerce & Industry (BBCCI)

Brazil and Bangladesh are two emerging economies on different continents that have increasingly explored trade and investment partnerships in recent years. Brazil is the largest economy in Latin America and a global powerhouse in agriculture and mineral commodities, while Bangladesh is one of South Asia’s fastest-growing economies and a world leader in textile manufacturing. Despite the geographic distance, their bilateral trade relationship has deepened over the past decade, with total trade between the countries crossing the $2–3 billion mark by the mid-2020s. This article provides a comprehensive overview of Brazil–Bangladesh trade, summarizing key findings from recent analyses. It reviews each country’s export and import profiles, examines trade trends over the last ten years, and highlights sectoral opportunities for businesses. Emphasis is placed on export and import opportunities between the two nations and on prospects for joint ventures and investments that can further enhance this partnership. The tone is formal and data-driven, aimed at business professionals interested in the evolving Brazil–Bangladesh economic relationship.

Brazil’s Export and Import Profile

Brazil’s economy has enormous export potential, dominated by commodities. Agricultural and mineral products form the bulk of Brazilian exports, whereas its imports are led by fuel and industrial goods. In 2023, Brazil exported roughly $340 billion in goods, reflecting its strength as a major exporter. The top export commodities for Brazil include:

• Soybeans: Brazil’s single largest export (approximately 15% of export value). Brazil is the world’s top producer and exporter of soybeans; a critical oilseed used for animal feed and edible oil.
• Petroleum Oils (Crude and Refined): About 12% of export value. Brazil is an oil producer and exports both crude oil and refined petroleum products.
• Iron Ore: Roughly 9% of export value, leveraging Brazil’s vast reserves of high-grade iron ore. Brazil is one of the largest iron ore exporters globally.
• Sugar: Around 4–5% of export value. Brazil is the world’s largest sugar exporter, shipping massive quantities of cane sugar to international markets.
• Maize (Corn): About 4% of exports. Brazil is a leading corn exporter, with large harvests that supply global grain markets.
• Other Notable Exports: Brazil also exports significant amounts of coffee, meat (beef and poultry), wood and timber products, soy meal, and ores/minerals. These commodities, while not in the very top tier by percentage, contribute substantially to Brazil’s export earnings and underscore its role as an agricultural and natural resources exporter.

On the import side, Brazil’s needs are driven by its industrial sector and consumer market. The country imports items that support its manufacturing base and meet consumer demand, including energy products that complement its own production. Key import categories for Brazil include:

• Refined Petroleum: About 11% of Brazil’s import value. Despite being a crude oil producer, Brazil imports refined fuels (such as diesel and gasoline) to meet domestic energy needs.
• Machinery and Equipment: A significant share of imports consists of machinery, factory equipment, and high-tech goods not produced locally. For instance, automotive parts and accessories make up roughly 3% of imports, supporting Brazil’s large automobile manufacturing and assembly industry.
• Aerospace and Transport: Brazil imports advanced components like aircraft and engine parts (around 2.5% of imports) and finished motor vehicles (cars and trucks, about 2–3%). These imports fill gaps in domestic production and feed consumer demand for vehicles and air travel.
• Electronics and Chemicals: While not individually listed in the top few categories by percentage, Brazil imports a wide range of electronics, telecommunications equipment, pharmaceuticals, and chemical products to supply its market and industries.

Brazil’s major trading partners reflect its global economic ties. China is by far Brazil’s largest export market (accounting for roughly 30% of Brazilian exports, driven by China’s appetite for commodities like soy and iron ore), followed by the United States (~11% of exports) and the European Union. On the import side, China also leads as a source (over 20% of Brazil’s imports, including machinery and electronics), with the U.S. and European countries also supplying significant imports. Within this global portfolio, Bangladesh is not yet a top-tier trade partner for Brazil. However, Bangladesh’s importance to Brazil has been growing in recent years as Bangladesh buys more Brazilian commodities and, conversely, Brazil shows openness to Bangladeshi products. In the coming sections, we will see how this complementary relationship is developing.

Bangladesh’s Export and Import Profile

Bangladesh’s economy is heavily export-oriented in manufactured consumer goods and relies on imports for fuel, industrial inputs, and essential commodities. In 2023, Bangladesh’s merchandise exports were about $55–56 billion, while its imports stood around $66–67 billion, resulting in a persistent trade deficit. The country’s export basket is highly concentrated, with textiles and apparel dominating by a wide margin.

Export Profile: Bangladesh is the world’s second-largest apparel exporter (after China), and ready-made garments (RMG) are the cornerstone of its economy. Approximately 81% of Bangladesh’s export earnings come from clothing and textiles, which includes a range of products from knitwear (such as T-shirts and sweaters) to woven garments (such as shirts, pants, and jackets). This dominance of garments underscores Bangladesh’s competitive advantage in large-scale, low-cost textile manufacturing. Beyond apparel, Bangladesh has a few other export sectors, albeit much smaller in share:

• Footwear: Accounts for roughly 2% of export earnings. Bangladesh produces leather and synthetic shoes that are exported worldwide.
• Jute and Jute Products: As a traditional jute grower, Bangladesh exports jute fiber, yarn, and products like hessian (burlap) and sacks. However, jute exports are only a small single-digit percentage of the total, reflecting that this sector, while historically important, is much smaller than garments.
• Leather Goods: Including leather itself, as well as finished products like bags, belts, and wallets. These also form a small portion of exports.
• Other Goods: Bangladesh exports some seafood (such as shrimp), ceramics and tableware, pharmaceuticals, and agricultural products. Each of these categories contributes a few percent or less to total exports. For example, pharmaceuticals from Bangladesh – known for affordable generic medicines – are a rising sector but still constitute a minor share of export revenue at present.

In summary, Bangladesh’s export profile is concentrated in labor-intensive manufactured goods, with garments being by far the most significant, and a need to diversify into other sectors for more balanced growth.

Import Profile: On the import side, Bangladesh’s needs are driven by its burgeoning population, industrialization, and limited domestic resources for key inputs. Top import categories include:

1. Energy (Fuel Imports): Bangladesh imports large quantities of refined petroleum fuels (around 10% of import value) to power transportation and industry, as it has minimal domestic petroleum production. It also began importing liquefied natural gas (LNG) in recent years (roughly 4% of imports) to fuel power plants and meet energy demand, since domestic natural gas reserves are declining.
2. Textile Raw Materials: As a textile manufacturing hub, Bangladesh must import almost all of the raw cotton (about 3% of import spend) needed for its spinning mills and fabric production – Bangladesh is one of the world’s largest cotton importers. It also imports significant volumes of synthetic fibers, yarn, and fabric to feed its garment factories (for instance, specific yarns and fabrics that are not produced locally appear as notable import items).
3. Industrial Raw Materials and Machinery: Iron and steel (mostly scrap metal) make up around 2–3% of imports, which Bangladesh’s steel re-rolling mills use to produce construction steel (the country largely melts scrap rather than processing iron ore). Additionally, machinery and capital equipment for factories, electrical goods, and chemicals are important import categories (though each may not individually rank in the top five, collectively they form a large share of imports).
4. Food and Agriculture Commodities: Bangladesh is a major importer of food staples to ensure food security. This includes wheat (for flour and staple consumption, often sourced from countries like Russia, Ukraine, or Canada), edible oils (such as palm oil from Southeast Asia and soybean oil from Americas), and pulses (lentils) from various countries. These items are critical for Bangladesh’s domestic consumption, even if each might not rank at the very top in a given year.
5. Other Imports: The country also imports fertilizers, vehicles, pharmaceuticals, and consumer goods to meet the needs of its growing economy and population. Bangladesh’s primary import partners are its large neighbors and traditional suppliers: China is the largest source of imports (roughly 30–35% of Bangladesh’s imports come from China, including machinery, electronics, and fabrics), followed by India (about 15–20%, supplying everything from cotton and food grains to machinery and chemicals). Other notable import partners include Indonesia, Singapore, and Malaysia (often for fuel and palm oil). Brazil, until recently, did not rank among the top few import sources for Bangladesh. However, Brazil has rapidly become a major supplier to Bangladesh for certain key commodities – particularly sugar, cotton, and soybean oil/soybeans, reflecting a growing trade linkage. This will be discussed further in the context of bilateral trade.

On the export side, Bangladesh’s top markets have traditionally been in North America and Europe. The United States accounts for about 15–16% of Bangladeshi exports (largely garments), making it the single biggest market, while the European Union collectively takes a substantial share (for example, Germany around 15%, the UK around 8%, plus other EU countries together constituting a large portion, thanks to Bangladesh’s duty-free access under EU trade preferences for least developed countries). Brazil, in contrast, has until recently been a very minor export destination for Bangladesh. However, Brazil is an emerging market destination that has shown rapid growth in imports of Bangladeshi products in the last few years, especially in apparel. This indicates that Bangladesh is beginning to diversify its export markets beyond the traditional Western buyers, and South-South trade with partners like Brazil is on the rise.

Bilateral Trade Trends (2011–2025)

Trade between Bangladesh and Brazil has grown substantially over the past decade, though from a relatively low base in the case of Bangladesh’s exports. The overall trend from 2011 to 2025 is one of increasing engagement, with some fluctuations influenced by commodity prices and economic conditions. A few key observations summarize the bilateral trade trajectory:

• Surge in Bangladesh’s Imports from Brazil: Bangladesh’s imports from Brazil have more than tripled in value over the last ten years. In the early 2010s (around 2011–2012), Bangladesh imported on the order of $0.8 to $1.2 billion per year worth of goods from Brazil. By the mid-2020s, this figure has climbed sharply. In fiscal year 2023–24, Bangladesh’s imports from Brazil reached approximately $2.66 billion. This consistent growth (notwithstanding year-to-year volatility) is driven by Bangladesh’s rising demand for commodities that Brazil exports competitively – notably sugar, cotton, oilseeds (soybean), and maize. For example, Brazilian exports to Bangladesh were about $2.24 billion in FY2021–22 and increased to $2.66 billion by FY2023–24. As a result of this surge, Brazil has become one of Bangladesh’s top ten import sources (hovering around the 8th largest source of imports in recent years). In short, Brazil has emerged as a significant supplier for Bangladesh’s critical needs.

• Gradual Rise of Bangladesh’s Exports to Brazil: Bangladesh’s own exports to Brazil have historically been modest but are on an upward trend. In FY2011–12, Bangladesh exported roughly $150–160 million to Brazil. Over the decade, this figure has grown, hitting a high of about $175 million in FY2021–22. After a slight dip to around $147 million in 2023–24, Bangladeshi exports to Brazil reached a new peak of approximately $187 million in FY2024–25. That last jump was a notable year-on-year increase (over 25% growth from the previous year), reflecting Bangladesh’s push to expand into the Latin American market, particularly with ready-made garments. Even with this growth, it’s important to note that Bangladesh’s exports to Brazil still represent only around 3% of Bangladesh’s total global export earnings, indicating significant room for further expansion. Nonetheless, the trajectory is positive, and Brazil is becoming a faster-growing market for Bangladeshi goods, especially clothing.

• Persistent Trade Imbalance: The bilateral trade is heavily in Brazil’s favor, resulting in a significant trade imbalance. Bangladesh consistently runs a large trade deficit with Brazil because the value of its imports from Brazil far exceeds its export earnings from the Brazilian market. For instance, in 2023–24 Bangladesh imported about 18 times more from Brazil (roughly $2.66 billion) than it exported to Brazil (about $147 million). This gap translates into an annual trade deficit on the order of $2–2.5 billion for Bangladesh. The imbalance underscores Bangladesh’s reliance on Brazil for essential commodities (like cotton, sugar, and soybeans) and the relatively limited penetration of Bangladeshi products in Brazil so far. Reducing this imbalance by increasing exports (and diversifying them) remains a key challenge and goal for Bangladesh.

• Commodity-Driven Fluctuations: Year-to-year changes in the trade figures often correspond to swings in commodity prices and harvest volumes. For example, Bangladesh’s import bill from Brazil can spike if global cotton or sugar prices rise sharply (since Bangladesh buys those from Brazil). Conversely, if prices drop or if Brazil has a weaker harvest year, the import values might dip. Historical data shows, for instance, a dip in Bangladesh’s imports from Brazil around 2012–2013, likely due to lower commodity prices or some supply contraction in Brazil. On the export side, Bangladeshi exports to Brazil saw a drop around 2013–2014, which coincided with an economic slowdown and recession in Brazil (circa 2014–2016). During that period, Brazilian consumer demand fell, which likely dampened imports of apparel and other discretionary goods, affecting Bangladeshi exporters. These examples illustrate that beyond the general growth trend; cyclical factors have caused some ups and downs in annual trade figures.

Overall, the past decade paints a picture of increasing engagement and interdependence. Brazil is keen to deepen trade ties with Bangladesh, recognizing Bangladesh as a “new economic giant” in South Asia with a growing consumer base and industrial demand. On the other side, Bangladesh is actively looking to diversify its export markets beyond North America and Europe. This diversification is becoming especially important as Bangladesh prepares to graduate from least-developed country (LDC) status, which will lead to the phasing out of certain trade preferences in Western markets – thus, countries like Brazil represent important new frontiers for Bangladeshi exports. Both governments have signaled support for stronger economic relations. The stage is set for a more robust partnership, and the following sections will identify concrete opportunities in goods and services that businesses from Bangladesh (and by extension Brazil) can capitalize on, given these trade patterns.

Opportunities for Bangladesh’s Exports to Brazil

Despite Brazil’s large economy and market size, Bangladeshi products currently hold only a small foothold there, but the recent growth in exports signals significant untapped potential. Matching Bangladesh’s export strengths with Brazil’s import needs reveals several sectors where Bangladesh can expand its presence in the Brazilian market. Key opportunities for Bangladeshi exports to Brazil include:

• Textiles and Ready-Made Garments (RMG): This is by far the biggest opportunity for Bangladesh in Brazil. Brazil imports a substantial volume of textiles and apparel from the world (for example, Brazilian global imports of clothing are around $5–6 billion per year). As a top apparel exporter globally, Bangladesh currently supplies only a modest fraction of Brazil’s imported clothing – roughly on the order of $150 million annually in recent years, which is about 2–3% of Brazil’s clothing import market. There is considerable room to grow this share. Bangladesh’s strengths lie in producing quality apparel (knitwear, T-shirts, denim, etc.) at competitive prices. Brazilian retailers and brands import a lot of their clothing from other countries (such as China, Vietnam, and others in Asia); Bangladesh could capture more of this market by leveraging its cost advantage and the capacity of its garment industry. Recent trends are encouraging: Bangladeshi apparel exports to Brazil have been rising rapidly, with a notable jump of around 60% in value in fiscal 2022–23, indicating accelerating demand. To fully tap into this opportunity, Bangladeshi exporters can strengthen marketing and distribution channels in Brazil, possibly by partnering with Brazilian importers, wholesalers, or large retail chains. One structural challenge is tariffs – Brazil is part of the Mercosur bloc, which imposes relatively high external tariffs on apparel imports, making Bangladeshi goods less price-competitive than they could be. In the long run, a free trade agreement or reduced tariffs via a Mercosur-Bangladesh understanding would significantly unlock this potential. In the meantime, some Bangladeshi textile firms are even considering joint ventures in Brazil (such as investing in finishing facilities or even garment assembly plants locally) to “produce and sell local,” thereby bypassing tariffs while using Bangladeshi expertise and perhaps imported inputs from Bangladesh. Overall, apparel represents a cornerstone opportunity: expanding Bangladesh’s RMG exports to Brazil can help diversify Bangladesh’s markets and provide Brazilian consumers with more sourcing options.

• Jute and Eco-Friendly Products: Bangladesh is a leading global producer of jute, a natural fiber used in making yarn, twine, sacks, mats, and various eco-friendly products. As environmental awareness grows worldwide, there is increasing interest in alternatives to plastic, and jute is well-positioned as a biodegradable packaging and material solution. In Brazil, the market for eco-friendly jute goods – such as reusable shopping bags, biodegradable geotextiles for landscaping, and natural fiber rugs or carpets – could grow in the coming years. At present, jute is not a major item in Brazil–Bangladesh trade, but Bangladeshi officials and business leaders have suggested promoting jute products to narrow the trade gap with Brazil. Potential niches include supplying jute yarn and hessian cloth to Brazilian industries (for packing agricultural produce, for example) and finished jute goods like shopping bags or home decor items to retailers. There could also be specialized uses: for instance, Brazil’s agricultural sector might use jute matting in soil erosion control or for tree plantation shading. To develop this market, Bangladeshi businesses would likely need to collaborate with distributors in Brazil who specialize in sustainable products, educating the market on jute’s benefits. With the global shift away from plastics, this is a timely opportunity to introduce Bangladeshi jute goods into South America.

• Leather Products and Footwear: Bangladesh has a significant leather and leather goods industry, producing everything from finished leather (tanned hides) to value-added products like shoes, handbags, belts, and wallets. Brazil, on the other hand, has its own cattle-based leather production but also a large domestic consumer market for footwear and accessories. In 2022, Brazil imported over $1 billion in footwear from global sources, much of it from Asian manufacturers. There is potential for high-quality, cost-competitive Bangladeshi leather footwear and leather goods to capture more of the Brazilian market. Bangladeshi shoes (both leather and synthetic) are known for good quality at affordable prices and are exported worldwide – some of this can be directed to Brazil with proper marketing and distribution. Currently, Bangladesh’s direct exports of footwear to Brazil are relatively small, but growing this segment could help diversify exports beyond garments. A possible approach is for Bangladeshi manufacturers to partner with Brazilian brands or importers. For example, a Bangladeshi shoe factory could produce certain lines of footwear under a Brazilian brand’s label for the local market, combining Bangladeshi manufacturing efficiency with Brazilian market knowledge. Additionally, joint ventures could be explored in this sector, either setting up assembly in Brazil or collaborative design and distribution agreements. Given that Bangladesh’s leather footwear exports globally have been climbing (earning hundreds of millions of dollars annually), extending their reach into Brazil is a logical next step.

• Pharmaceuticals and Medical Products: Bangladesh’s pharmaceutical sector is a rising star, exporting generic medicines to over 150 countries. Bangladeshi pharma companies have developed expertise in producing high-quality generic drugs (from antibiotics to cancer medications) at low cost, and some have approvals in regulated markets like the EU and US. Brazil, meanwhile, has a large pharmaceuticals market and a need for affordable medications. Currently, Bangladesh’s pharma exports to Brazil are very small (just a few million dollars worth, as of the late 2010s). However, the potential is significant if challenges can be overcome. Brazil often imports generic drugs and has a mix of domestic production and import to meet its healthcare needs. Bangladeshi companies could target Brazil with products like generic medicines, Active Pharmaceutical Ingredients (APIs), and possibly medical devices (like inexpensive diagnostic kits or equipment). A major hurdle is regulatory approval in Brazil, the Brazilian health regulatory system (Anvisa) can be complex and demanding, and establishing credibility takes time. One strategic way to enter would be through joint ventures or partnerships: for instance, a Bangladeshi pharmaceutical firm could partner with a Brazilian generic drug manufacturer or distributor to register and produce drugs in Brazil. By producing locally (even if using Bangladeshi technology and know-how), they could gain easier access to the market and navigate regulatory preferences that favor local production. Notably, the Brazilian authorities have expressed openness to Bangladeshi pharmaceuticals – the Brazilian ambassador in Dhaka has publicly lauded the quality of Bangladeshi pharma products and hinted at opportunities to import more generics. Over time, if one or two Bangladeshi companies establish a foothold in Brazil (either via exports or a local facility), it could open the door for a whole new category of exports for Bangladesh, beyond the traditional goods.

• Light Manufacturing (Plastics, Ceramics, and Others): Beyond the dominant sectors, Bangladesh has a range of light manufacturing industries that have found niche success internationally. For example, ceramic products and tableware made in Bangladesh are world-class in quality and are already exported to markets like Europe; these could appeal to Brazilian importers catering to the home decor and hospitality sectors. Plastic products such as household plastics, packaging materials, and toiletry items are another area – Bangladesh produces these at scale and often at lower cost. While currently Bangladesh’s exports to Brazil in these categories are small, there have been instances of exports of plastic tableware, kitchenware, toys, and sports equipment. With focused trade promotion (such as participation in Brazilian trade fairs or leveraging any Bangladeshi diaspora business networks in Brazil), these “other” export categories could grow incrementally. Each may not become huge individually, but collectively, any growth outside of apparel helps diversify Bangladesh’s export portfolio. Bangladeshi companies can target specific niches: for example, selling ceramic tiles or dishes to Brazilian importers, or plastic packaging to Brazilian manufacturers. Success will require meeting Brazilian quality and safety standards and establishing distribution channels, but the door is open for entrepreneurial initiatives in these areas.

• IT and Services Outsourcing: While goods trade takes center stage, services trade is a longer-term opportunity that should not be overlooked. Bangladesh has a burgeoning IT and IT-enabled services sector, including software development, business process outsourcing (BPO), and back-office services. Brazilian companies, particularly in the tech or financial sectors, might seek cost-effective outsourcing solutions. Although differences in time zone and language (Brazil’s primary language is Portuguese) present challenges, certain niches could be explored. For example, a Bangladeshi software firm could develop a specialty in serving English-speaking departments of multinational companies that have operations in Brazil. Another angle is educational and professional services: Bangladeshi engineering or IT training institutes might offer remote training to Brazilian students or professionals (though language barriers would need addressing, perhaps through English-language programs aimed at internationally oriented Brazilians). Additionally, tourism and hospitality services represent a niche exchange – Bangladesh could market itself as a destination for Brazilian tourists interested in South Asia, and vice versa (though this is quite niche at present). While these service exports are relatively speculative and would take time to materialize, forward-looking entrepreneurs can lay groundwork now for service sector collaboration, adding another dimension to the economic relationship beyond physical goods.

In summary, Bangladesh’s best prospects for expanding exports to Brazil align with its areas of greatest strength. Apparel is the standout sector with immediate potential to scale up, given Brazil’s large import volume and Bangladesh’s capacity. Alongside that, sectors like leather goods, jute products, pharmaceuticals, ceramics, and other light manufactures hold promise in diversifying the export mix. Realizing these opportunities will require proactive efforts: ensuring products meet Brazilian standards and consumer preferences, competitive pricing, participation in trade shows, and often partnering with local Brazilian firms to navigate the business culture, distribution networks, and regulations. If executed well, these exports can both boost Bangladesh’s earnings and provide Brazilian consumers with quality products at competitive prices, deepening the win-win nature of the trade relationship.

BBCCI

Opportunities for Bangladesh’s Imports from Brazil

On the import side, Brazil is already a crucial supplier to Bangladesh in several categories, especially those where Brazil has a strong comparative advantage. A Bangladeshi business looking to import from Brazil – or invest in Brazilian supply chains, will find opportunities largely in commodities and agricultural goods, where Brazil is a world-leading exporter. Augmenting these imports can help Bangladesh secure vital inputs for its economy, often at competitive prices due to Brazil’s efficient production. Key import opportunities (and related investment prospects) include:

• Raw Cotton: Perhaps the most strategic import for Bangladesh’s textile industry is raw cotton. Bangladesh’s spinning mills and garment factories depend almost entirely on imported cotton, since local cotton cultivation is negligible. Brazil, as one of the world’s top cotton producers and exporters (consistently among the top 4 exporters globally), has become an increasingly important source for Bangladeshi cotton procurement. In recent years, Bangladeshi mills have been importing large volumes of Brazilian cotton – for instance, in 2024 Bangladesh imported over $600 million worth of cotton from Brazil, which constituted roughly a quarter of Bangladesh’s total cotton import needs that year. This represents a major chunk of Bangladesh’s supply, second only to perhaps cotton from the USA or India in some years. The opportunity here is two-fold: trade and investment. On the trade side, Bangladeshi textile firms and commodity traders should continue to strengthen direct sourcing from Brazil, possibly by setting up procurement offices in Brazil’s cotton-growing regions or forming long-term contracts with Brazilian suppliers. Direct engagement can ensure consistent quality (Brazilian cotton is known for good quality) and better prices by cutting intermediaries. On the investment side, a visionary approach would be to engage in joint ventures – for example, a consortium of Bangladeshi textile companies could invest in a Brazilian cotton farm or a ginning operation. By co-owning part of the supply chain, Bangladeshi businesses can secure a steady share of cotton output for their own use. Given that Brazilian industry and government have shown interest in supplying more cotton to Bangladesh (recognizing Bangladesh as a stable large buyer), the environment is favorable for deeper cooperation. Ensuring reliable cotton supply is vital for Bangladesh to maintain its garment export growth, and Brazil offers a reliable partnership in this regard.

• Sugar: Bangladesh is a massive importer of sugar, as domestic production of sugar (from sugarcane) is limited and costly, falling far short of national consumption. Brazil, on the other hand, is the world’s largest sugar exporter, benefiting from an ideal climate for sugarcane and highly efficient large plantations and mills. Over the past decade, sugar has often been the single largest import item by value from Brazil to Bangladesh. To illustrate, in the year 2024, Bangladesh imported roughly $750+ million worth of sugar from Brazil, reflecting how crucial Brazilian sugar is to meet Bangladesh’s demand for sweeteners in its food and beverage industries. This import trend is likely to continue as Bangladesh’s population and food processing industries grow. For Bangladeshi trading firms, importing Brazilian cane sugar (raw or refined) in bulk is a well-established opportunity – Brazilian sugar is competitively priced and available in large quantities. Beyond straightforward importing, there are investment opportunities in sugar as well. A Bangladeshi investor could consider acquiring a stake in a Brazilian sugar mill or investing in a sugarcane plantation venture. Such a joint venture would secure a long-term supply line: a portion of sugar output could be dedicated to Bangladesh each season, helping stabilize supply and price. Additionally, sugar byproducts can be valuable; for example, ethanol (Brazil produces sugarcane ethanol as a biofuel) could be another product to secure, and molasses (used in animal feed or liquor) could also be brought to Bangladesh or used industrially. Another angle is for Bangladeshi sugar refiners: Bangladesh currently imports a lot of raw sugar which is then refined domestically into white sugar. By importing raw sugar from Brazil and refining it in Bangladesh, companies can add value locally (creating jobs and byproducts) and either sell to the domestic market or even re-export refined sugar to nearby markets if feasible. In summary, continuing and scaling sugar imports from Brazil is a straightforward opportunity, and those with a longer-term view might invest in the Brazilian sugar supply chain to cement this crucial link.

• Edible Oils and Oilseeds (Soybean Complex): Brazil is an agricultural superpower in oilseeds and edible oils. It stands as the world’s largest producer and exporter of soybeans, and is also a top exporter of soybean oil and soybean meal (a protein-rich feed for animals). Bangladesh, for its part, has a huge demand for edible oils (for cooking) and protein meals (for its poultry and fish farms), and it must import most of these since local production is limited. Traditionally, Bangladesh imports palm oil from Southeast Asia and soybean oil or beans from South America (Argentina and Brazil) or North America. In recent years, Brazil has been a significant supplier of these needs. Opportunities in this “soy complex” include: directly importing soybeans from Brazil for crushing in Bangladesh’s domestic oil mills, importing crude soybean oil for refining and consumption, and importing soybean meal to use in animal feed. For example, in some fiscal years, soybeans were among the main Brazilian exports to Bangladesh, alongside sugar and cotton. Beyond soy, Brazil also produces other oilseeds like sunflower and canola in smaller quantities, and can export edible oils such as soybean oil. Bangladeshi agribusiness firms can benefit from diversifying their sourcing of edible oil away from over-reliance on any single country by including more Brazilian soy oil. There is also a strong case for joint ventures here: a Bangladeshi edible oil company could partner with Brazilian soy farmers or processors. For instance, investing in a Brazilian soybean crushing plant (or farming operation) could ensure that a certain output – say, X thousand tons of soybean oil and meal – is secured for shipment to Bangladesh each year. Such vertical integration can help Bangladesh tackle price fluctuations in global edible oil markets and ensure feedstock availability for its poultry sector. Given global food commodity uncertainties, having a direct line to Brazil’s vast soy resources is strategically beneficial for Bangladesh.

• Cereals (Wheat and Maize): Bangladesh is a major importer of staple grains, especially wheat (as it cannot meet demand with local production) and maize (corn) which is heavily used in the rapidly expanding poultry and aquaculture feed industry. Brazil’s role in these commodities is significant. While Bangladesh traditionally sources wheat from countries like Russia, Ukraine, India, and Canada, Brazil has on occasion exported wheat when there are surpluses. More importantly, Brazil is consistently one of the world’s top maize exporters (often the second-largest after the United States). As Bangladesh’s demand for corn as animal feed grows, Brazilian maize is an attractive source, especially during certain times of the year when prices may be lower. Brazil has a unique agricultural cycle with a second corn harvest (the “safrinha”) that often creates an exportable surplus in the middle of the year. Bangladeshi feed mills and grain importers can take advantage of these seasonal gluts. For example, in a single month like August 2025, Brazil exported a significant volume of corn to Bangladesh (tens of millions of dollars worth), showing that Bangladeshi buyers are already tapping into Brazilian supply when conditions are favorable. Over a full year, Brazilian maize shipments to Bangladesh can form a substantial part of the import mix, especially if other sources face shortfalls or higher prices. In terms of wheat, while Brazil is not a top global exporter, it can be an alternative source if traditional suppliers face disruptions (for instance, geopolitical issues affecting Black Sea grain exports). Bangladeshi traders should keep Brazil on the radar as a supplementary wheat source in such scenarios. Potential joint ventures or investments here could involve the logistics and storage side: for instance, a Bangladeshi company might invest in grain storage facilities at Brazilian ports or collaborate with large grain trading multinationals that operate in Brazil, to ensure a streamlined supply chain of wheat/maize to Bangladesh. By having storage or procurement infrastructure in Brazil, Bangladeshi importers could buy grains opportunistically and ship when prices are best, thereby improving food security and cost efficiency.

Animal Protein and Food Products: Brazil is a global agricultural giant not just in crops but also in meats and other food products. It is the world’s largest exporter of beef and a leading exporter of poultry (chicken), as well as an important producer of pork, dairy, coffee, fruits, and tobacco. For Bangladesh, some of these represent emerging or niche import opportunities:

• Meat: At present, Bangladesh’s import of meat is relatively small. Cultural preferences and self-sufficiency in certain areas (fish, some poultry) limit meat imports. Beef consumption in Bangladesh is largely met by domestic cattle and some imports from neighboring countries, and there is a strong preference for halal slaughtered meat. However, as incomes rise and urbanization continues, there could be a market for specialty imported meats, for example high-quality beef cuts for upscale hotels, restaurants, and supermarkets. Brazil, with its vast cattle industry, can supply halal-certified beef (many Brazilian processors are approved for halal export). Similarly, parent stock for poultry (chicks or eggs for breeding) or genetic material might be an area to import from Brazil to improve Bangladesh’s own livestock productivity.

• Dairy: Bangladesh imports large quantities of milk powder (mostly from New Zealand, Australia, and Europe) to meet its dairy needs. Brazil has a sizable dairy industry; while it’s not a top exporter of milk powder globally, if Brazilian dairy companies offer competitive prices, they could potentially supply part of Bangladesh’s needs. Whole milk powder or skim milk powder from Brazil could diversify Bangladesh’s sourcing.

• Coffee: One clearly rising opportunity is coffee. Brazil is the world’s number one coffee producer and exporter. Meanwhile, in Bangladesh, coffee consumption is on the rise, especially in urban centers where café culture is taking hold among the youth and middle class. Although tea remains the dominant beverage, coffee imports are growing each year. Bangladeshi entrepreneurs have started importing specialty coffee beans in small quantities from various countries. Sourcing directly from Brazilian coffee growers or exporters – whether commodity coffee or specialty beans – is a logical step. By establishing relationships with Brazilian coffee exporters, Bangladeshi importers can ensure a high-quality supply for the domestic market. We might even envision a partnership where a Bangladeshi coffee roasting company partners with a Brazilian coffee farm or cooperative for a steady supply of particular coffee varieties, which could be branded and sold locally.

• Fruits and Others: Brazil grows a variety of fruits (like oranges, grapes, apples in the south, and tropical fruits) and crops like tobacco. Bangladesh imports some fruits (apples, grapes, oranges mostly from other sources currently) and also some tobacco leaf for its cigarette industry to blend with local tobacco for flavor and quality. Brazil’s produce could find a niche in Bangladesh, for example, if off-season or particular varieties are sought. Tobacco from Brazil has indeed been exported to Bangladesh in the past, showing that even “non-traditional” items can be part of the trade mix.

In summary, while Bangladesh may not become a large importer of Brazilian meat or fruit overnight, there are selective opportunities in food products where Brazilian quality or pricing gives an edge. Companies in the food import business can explore these niches, and doing so would further broaden the bilateral trade basket.

• Minerals and Industrial Raw Materials: Brazil’s rich geology means it can supply minerals like iron ore, manganese, bauxite, and coal. For Bangladesh, these are not yet major import items from Brazil, but future industrial developments could change that. Bangladesh’s steel industry currently is based on scrap recycling; it does not have blast furnaces for iron ore at scale, so iron ore imports are minimal. However, if Bangladesh were in the future to set up an integrated steel mill (using iron ore), Brazilian iron ore – known for its high iron content – would be an obvious source. Similarly, Bangladesh imports coal for some of its power plants; Brazil has coal reserves (though it is not a major coal exporter) – conceivably, Brazilian coal could supplement supplies if political or logistical issues affect other sources. Another area is fertilizers: Bangladesh needs a steady supply of fertilizers (like potassium, phosphate, urea) for its agriculture. Brazil itself imports a lot of fertilizers but also produces some phosphate fertilizer and potash domestically or in joint ventures abroad. A Bangladeshi company could consider partnering in Brazilian mining or fertilizer projects – for example, developing a phosphate mine in Brazil or investing in fertilizer production – to secure a portion of output for export to Bangladesh. While this is a more complex, long-term venture, it underscores that Bangladesh can look at Brazil not just as a source of finished commodities today, but also as a partner in extracting and producing the raw materials that Bangladesh will need tomorrow.

Energy Resources (Oil, Ethanol, etc.): As Bangladesh’s energy needs grow, it is exploring ways to diversify its energy import sources. Brazil presents some opportunities in this domain:

• Crude Oil: Brazil is a net exporter of crude oil, thanks in part to its offshore pre-salt oil fields. Bangladesh currently sources most of its crude oil from the Middle East which is logistically closer and whose crude oil types match Bangladesh’s refinery configurations. While Brazil is farther and its crude grades differ, Bangladeshi oil companies or commodity traders might consider trial purchases of Brazilian crude oil, especially if pricing is advantageous. This could be part of a strategy to broaden the slate of oil sources and potentially negotiate better terms.

• Ethanol (Biofuel): This is a particularly interesting opportunity. Brazil is famous for its sugarcane-based ethanol industry, it has decades of experience using ethanol as a biofuel for cars (many vehicles in Brazil are flex-fuel, running on ethanol blends). Bangladesh currently does not use much bio-ethanol in its fuel mix (gasoline in Bangladesh is not routinely blended with ethanol). However, looking ahead, Bangladesh may consider cleaner fuels or cost-saving measures which could include blending ethanol into gasoline (as many countries do with E5, E10 blends, meaning 5% or 10% ethanol). If Bangladesh’s policies shift in that direction for environmental or economic reasons, importing Brazilian ethanol could be a viable opportunity. Ethanol from Brazil is typically cost-competitive and plentiful. A business opportunity could be to tie up with a Brazilian ethanol supplier to import ethanol and set up the storage and blending infrastructure in Bangladesh. This might even involve a joint venture – for example, a Bangladeshi fuel company partnering with a Brazilian ethanol producer to invest in an ethanol distribution center in Bangladesh. Such forward-looking collaboration would position both countries at the forefront of cleaner energy cooperation.

• Liquefied Natural Gas (LNG): Brazil has recently developed LNG terminals, but largely for importing LNG for its own use. It’s not a major exporter of LNG. So this is likely not a near-term import source for Bangladesh (which currently buys LNG from Qatar, Oman, etc.).

• Other Renewables: While not a direct import, Brazil’s expertise in hydropower and growing capacity in solar and wind energy could translate into technology sharing or investment. For instance, a Bangladeshi energy company could invest in a Brazilian renewable energy project as a portfolio diversification, or Brazilian companies could offer technical assistance for renewable projects in Bangladesh. These would fall more under investment cooperation than import trade per se.

In summary, Bangladeshi importers and investors should continue to focus on Brazil’s strengths in agriculture and mining, since those align directly with Bangladesh’s needs. Commodities like cotton, sugar, soybeans (and oil), maize, coffee, beef, and iron ore are natural fits for import, many of which are already flowing in significant quantities. The opportunity now is to scale up and integrate more closely: through direct sourcing (bypassing middlemen), long-term supply contracts, or even strategic investments in Brazil’s production and logistics. By doing so, Bangladeshi businesses can gain more control over supply and pricing, a crucial advantage when dealing with essential commodities subject to global price volatility. Even small improvements or efficiencies in these import supply chains can yield big returns given the volumes involved. Moreover, a stronger import linkage often creates goodwill and reciprocity that can help Bangladeshi exporters find openings in the Brazilian market, moving towards a more balanced trade relationship over time.

Business Consultant

Joint Venture and Investment Prospects

Beyond straightforward buying and selling of goods, there are major opportunities for deeper collaboration between Brazilian and Bangladeshi businesses through joint ventures (JV) or direct investments. Such partnerships can leverage the strengths of each country and create ventures that add value beyond simple trade. These collaborations can happen in production (agriculture or manufacturing), in services, or in infrastructure development. Some promising avenues for joint ventures and investments include:

• Agricultural Joint Ventures in Brazil: As discussed, Bangladesh needs commodities like cotton, oilseeds (soybean), sugar, and grains in large quantities – all of which Brazil produces abundantly and efficiently. A visionary Bangladeshi investor or consortium could invest directly in Brazilian agriculture to create a vertically integrated supply line for Bangladesh. For example, a Bangladeshi textile company could partner with Brazilian farm operators to cultivate cotton on Brazilian farmland, with an agreement that a portion of the cotton yield is reserved for shipment to Bangladesh’s spinning mills. This kind of JV would give the Bangladeshi side a hedge against global cotton price swings and supply disruptions, effectively “locking in” a stable supply at production cost. Similarly, joint ventures could be formed for other crops: a Bangladeshi edible oil producer might co-invest in a Brazilian soybean farm or a soybean processing (crushing) plant, securing rights to a share of the soybean oil (for cooking oil in Bangladesh) and soybean meal (to ship back for Bangladesh’s poultry and fish feed industry). In the sugar sector, a Bangladeshi sugar-refining company could invest in a stake of a Brazilian sugar mill or even develop a new sugarcane plantation jointly – ensuring that raw sugar or refined sugar flows back to Bangladesh regularly. The synergy here is clear: Brazil has land, favorable climate, and expertise yielding high agricultural output, while Bangladesh has capital seeking reliable raw materials and a guaranteed demand for those commodities. Such agricultural JVs could benefit from Brazilian government incentives aimed at attracting foreign investment in agribusiness (Brazil often welcomes investment that boosts its agricultural sector). Government-to-government agreements or support from chambers of commerce (like the Brazil-Bangladesh Chamber) could facilitate these initiatives. In essence, these joint ventures turn a simple trade relationship into a production partnership, deeply intertwining the two economies in those sectors.

• Manufacturing and Industrial Ventures: There is considerable scope for collaboration in manufacturing, leveraging cost advantages and market access. One scenario is setting up manufacturing operations in Brazil with Bangladeshi partnership, especially to circumvent trade barriers. For instance, given the high import tariffs that Brazil imposes on finished apparel, a logical strategy for Bangladeshi garment companies to expand in Brazil is to establish a manufacturing presence inside Brazil. A Bangladeshi garment manufacturer could open a factory or partner with a Brazilian apparel firm to produce clothing locally. In this arrangement, Bangladesh’s expertise in efficient, high-volume apparel production can be combined with Brazilian local knowledge and duty-free access to the Mercosur market. The factory could import some inputs (maybe fabric or accessories) from Bangladesh, add local labor and production, and sell within Brazil and Mercosur countries without the heavy tariffs – effectively getting “made in Brazil” status. This is a longer-term, capital-intensive strategy, but it may make sense for higher-end garments or products that need quick replenishment in the local market. On the flip side, Brazilian manufacturers might find Bangladesh attractive for investment. Bangladesh offers one of the lowest labor costs in the world and has proven manufacturing capabilities in textiles, leather, light engineering, etc. A Brazilian textile or footwear company could set up a production facility in Bangladesh to produce goods at lower cost, either for export globally or even to send some products back to Brazil (taking advantage of Bangladesh’s trade agreements or simply its cost competitiveness). Indeed, interest in such cross-investment is already visible – for example, there have been instances of Brazilian textile firms sourcing from Bangladesh or exploring joint ventures. By partnering, companies from both sides can mitigate risks: the Bangladeshi side gets technology or market knowledge, and the Brazilian side gets cost advantages or assured supply. Industrial joint ventures need not be limited to textiles; they could extend to other sectors like electronics assembly, automotive components, or footwear where each side brings something valuable to the table (Bangladesh’s low cost and skills, Brazil’s market and technology). These ventures contribute to technology transfer, skill development, and deeper economic integration.

• Pharmaceutical and Healthcare Collaboration: The pharmaceutical industry offers a ripe field for joint ventures given Bangladesh’s growing capabilities in generics and Brazil’s large market. A promising model would be a joint venture pharmaceutical plant in Brazil. For example, a Bangladeshi generic drug company could partner with a Brazilian pharma company or a local investor to set up a formulation facility in Brazil that produces medicines (tablets, capsules, injectables) locally. This would allow them to use Bangladeshi know-how in cost-efficient drug manufacturing while satisfying Brazil’s preference for local production (Brazil, like many countries, has policies or market conditions favoring drugs made in-country, especially for public health tenders). The product range could include essential generics for chronic diseases, antibiotics, etc., which are in high demand. Such a venture would help bring down drug costs in Brazil and give Bangladesh a share of the Brazilian market that would be hard to achieve through direct exports alone due to regulatory hurdles. Conversely, Brazilian pharmaceutical companies, particularly in specialized fields like vaccines or biotechnology, could find opportunities in Bangladesh. Brazil has reputable research institutions (for instance, Fiocruz, known for vaccine development). A collaboration could involve Brazilian expertise helping set up vaccine production or biotech research in Bangladesh, something very relevant in a post-pandemic world where vaccine manufacturing capacity is a strategic asset. In healthcare services too, there could be partnerships: Brazilian hospitals or health management companies might collaborate with Bangladeshi hospitals to exchange knowledge on tropical disease treatment, telemedicine, or hospital management techniques. Additionally, programs that allow Bangladeshi medical professionals to train in Brazil (or vice versa) can build goodwill and understanding that paves the way for business ties. All these collaborations in health and pharma not only have commercial value but also serve humanitarian and public health goals in both countries.

• Energy and Natural Resources Projects: Energy is another sector where joint initiatives can be mutually beneficial. There is some historical precedent: Brazil’s state oil company Petrobras was involved in offshore natural gas exploration in Bangladesh in the past (drilling and developing gas wells in the Bay of Bengal). Reviving and expanding such partnerships could be beneficial for Bangladesh as it seeks to boost its domestic energy production – Petrobras or other Brazilian energy firms could bring expertise in deepwater exploration, for example. On the flip side, while Bangladesh’s ability to invest in Brazil’s massive oil projects might be limited by capital, there could be smaller scale investments or collaboration in training and technology exchange. Renewable energy is a particularly forward-looking area for partnership. Brazil has long experience with biofuels (as noted, sugarcane ethanol and also biodiesel from soybeans). Joint research or pilot projects could be set up in Bangladesh to apply Brazilian biofuel technology using local Bangladeshi feedstocks (for instance, exploring ethanol production from molasses, which is a byproduct of Bangladesh’s small sugar industry, or even from biomass like rice husks). Brazil is also rich in other natural resources that Bangladesh might want to secure – for instance, if Bangladesh aims to secure a supply of phosphate rock for fertilizer production, a Bangladeshi fertilizer company might consider jointly developing a Brazilian phosphate mine or fertilizer factory. For Brazil, attracting Bangladeshi investment (even if modest) adds to the pool of foreign capital developing its resources, while for Bangladesh it locks in a piece of the supply. Additionally, Bangladeshi entrepreneurs or investment firms looking to diversify internationally could consider participating in Brazil’s renewable energy projects (solar parks, wind farms) or even infrastructure like ports and rail that indirectly facilitate commodity exports, these are investment opportunities that provide returns and strategic benefits (though such ventures would likely require partnerships with larger global firms and the Brazilian government’s support).

• Agricultural Technology and Fisheries Collaboration: This area is more about knowledge and productivity than trade volumes, but it can have significant economic impact. Bangladesh, with its dense population, constantly seeks to improve agricultural yield and efficiency. Brazil, known for its tropical agriculture prowess (for example, turning its Cerrado savannah into productive soybean and cotton land through science and innovation), has a lot of agri-tech and know-how that could benefit Bangladesh. Joint ventures could take the form of Brazilian agribusiness companies or research institutes partnering with Bangladeshi companies to introduce higher-yield crop varieties, better farm management practices, or advanced irrigation and crop rotation techniques in Bangladesh. For example, Brazil has world-class expertise in soybean cultivation in tropical climates; if Bangladesh were to experiment with cultivating soybeans or other oilseeds in some of its land (to reduce import dependence), Brazilian agronomists could guide those projects. In livestock, Brazilian cattle genetics and poultry breeding are among the best, a joint project to improve Bangladesh’s cattle breed for higher milk or meat output could involve Brazilian experts or investment in local farms. Similarly, fisheries and aquaculture could be an area of mutual learning: Bangladesh is a leader in inland aquaculture (like farmed fish, e.g., tilapia, pangasius) and shrimp farming, while Brazil has extensive rivers and a growing aquaculture sector. Collaborative research or business ventures in fish farming (like exchanging techniques for shrimp disease management or fish breeding) could be valuable. These types of joint ventures may not directly result in bilateral trade, but they enhance each country’s capacity and can lead to new products or increased production that might be traded or consumed domestically. Additionally, they build the kind of soft economic ties that strengthen overall relations.

• Infrastructure and Engineering Services: Infrastructure development is a pressing need in Bangladesh, and Brazilian engineering and construction firms have a wealth of experience (Brazil’s companies have built large hydroelectric dams, roads, and oil platforms at home and abroad). There is an opportunity for Brazilian construction and engineering companies to participate in Bangladesh’s infrastructure projects via partnerships with local firms. For example, Bangladesh is investing in power plants, bridges, highways, and metro rail systems. A Brazilian company could join forces with a Bangladeshi contractor to bid on such a project, combining Brazilian technical expertise and project management with the Bangladeshi partner’s local knowledge, labor, and regulatory navigation. This kind of partnership could be facilitated by government agreements or inclusion in tender processes. Conversely, while Bangladeshi construction companies are smaller in global scale, some could potentially take subcontracting roles in Brazilian projects or collaborate in niche areas like IT services for construction management, etc. Realistically, the flow is more likely Brazil to Bangladesh in infrastructure investment, given Brazil’s larger firms and Bangladesh’s huge infrastructure demand. If successful, this would bring capital and skills to Bangladesh and give Brazilian firms access to a growing market. Such projects also often have financing from international development banks or agencies, where a joint venture could be advantageous to meet local content requirements and global standards.

All these joint venture and investment prospects demonstrate that the Brazil–Bangladesh economic relationship can go well beyond just trading goods – it can evolve into co-production and co-investment in ways that benefit both sides. It should be noted, however, that entering a foreign market or investment environment comes with challenges. Businesses will need to navigate differences in language (Brazil’s business language is Portuguese, whereas Bangladesh’s is Bengali/English), legal and regulatory hurdles, and business culture. For Bangladeshi firms in particular, having a local Brazilian partner or hiring local experts is crucial when setting up operations in Brazil – this helps in understanding bureaucratic procedures, tax systems, and market nuances. Likewise, to attract Brazilian investors to Bangladesh, Bangladesh will need to continue improving its business climate (ease of doing business, simplifying regulations, improving infrastructure and energy supply) so that foreigners feel comfortable investing capital there. Encouragingly, both governments have shown support for closer economic ties. High-level visits and statements – for example, the Brazilian Ambassador in Dhaka frequently expressing keenness to deepen trade and investment links – set a positive tone. Bangladesh has also been emphasizing outreach to “non-traditional” partners as part of its economic diplomacy. With mutual commitment, the ventures outlined above stand a much better chance of success.

Conclusion

The economic relationship between Brazil and Bangladesh is poised for significant expansion in the coming years. The two countries are in many ways complementary: Brazil’s strengths in commodities and industrial production align with Bangladesh’s needs for raw materials and food, while Bangladesh’s strengths in manufacturing (especially consumer goods like apparel) can cater to Brazil’s large consumer market. Over the last ten years, bilateral trade has grown in volume and importance, though not without imbalance. Bangladesh now sources a substantial portion of critical inputs (such as cotton and sugar) from Brazil, and Bangladeshi apparel exports to Brazil, though still relatively small, are rising swiftly. This decade of growing exchange has effectively laid the groundwork for a broader partnership.

To capitalize on these trends, a multi-pronged strategy is advisable for Bangladeshi businesses and policymakers (and likewise for Brazilian stakeholders). First, Bangladesh should aim to increase its direct exports to Brazil in sectors where it has a comparative advantage, notably textiles/clothing, but also leather goods, jute products, pharmaceuticals, and light manufactures. Building market share in Brazil will require competitive pricing, consistent quality, and marketing efforts, possibly supported by trade promotion initiatives and negotiations for better market access. Second, Bangladesh should continue to import vital commodities from Brazil on advantageous terms, using Brazil as a reliable source for inputs like cotton, edible oil, sugar, maize, and more. This could involve negotiating long-term supply contracts or bulk purchase agreements to ensure stable prices and supply security for Bangladeshi importers (for example, locking in a certain amount of cotton or sugar each year at an agreed formula). Third, and importantly, engaging in joint ventures and investments can lock in mutual benefits and take the relationship beyond just buyer-seller dynamics. When Bangladeshi firms co-invest in Brazilian farms or factories (or vice versa), both countries then have a stake in the success of those enterprises, aligning their interests. Such co-investment can ensure Bangladesh gets steady access to resources while Brazil gets capital inflows and new markets for its projects.

Notably, there are policy-level initiatives that could greatly facilitate these business endeavors. Both sides might explore a Brazil–Bangladesh or Mercosur–Bangladesh trade agreement to reduce tariff barriers. For instance, if Bangladesh could negotiate preferential access or an FTA with Mercosur (the South American trade bloc that includes Brazil), Bangladeshi exports like garments and footwear would become much more competitive in Brazil, potentially boosting volumes significantly. On the import side, it would also reduce costs for Bangladesh to buy Brazilian goods. Diplomatic efforts in this direction could pay off in the long term. Additionally, diversifying Bangladesh’s export basket to Brazil is key to reducing the huge trade deficit. That means pushing new products (jute, leather, ceramics, etc.) and not solely relying on garments. A diversified approach will not only reduce the deficit but also insulate the trade relationship from downturns in any one sector.

The future looks promising for Brazil–Bangladesh trade. Both governments appear supportive: Bangladesh is eager to find new growth markets like Brazil to sustain its export momentum (especially as it graduates from LDC status and faces potentially higher tariffs in Europe/North America), and Brazil’s leadership sees Bangladesh as a dynamic market and a potential gateway in South Asia. People-to-people connections, including a small but growing Bangladeshi diaspora in Brazil (estimated at around 7,000–8,000 Bangladeshis residing in Brazil), can also play a role by acting as bridges for cultural understanding and business networking. These soft links often precede stronger economic partnerships, helping to build trust and familiarity.

In conclusion, the last decade of Brazil–Bangladesh trade has set the stage, and the next decade could see this partnership flourish across multiple sectors. With strategic initiatives by enterprising businesses, from importing critical commodities wisely, to exporting competitive products aggressively, and investing in joint ventures collaboratively, both countries stand to gain enormously. Bangladesh can secure raw material stability and diversify its export markets, while Brazil can find a growing outlet for its goods and a source of quality imports and investment. It is a win-win partnership in the making, built on the robust complementarities of the two economies. For business professionals in both countries, the message is clear: the Brazil–Bangladesh corridor is rich with opportunities, and now is the time to expand engagement and reap the mutual benefits of this South-South trade relationship.