FBCCI signs MoU with Brazilian agency to expand bilateral trade

Bangladesh and Brazil will work together to expand further the bilateral trade while both countries will support the industries under joint venture and joint collaboration.

In this regard, a Memorandum of Understanding (MoU) was signed between the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the Brazilian Trade and Investment Promotion Agency (APEXBRASIL) on February 1 at the headquarters of the Apex Brasil, Brazil.

FBCCI president Md Jashim Uddin signed the MoU with the Business Director of Apex Brasil Ana Paula Repezza during his visit to Brazil, reports BSS citing a press release issued on Saturday.

Under this agreement, both the FBCCI and Apex Brasil will exchange information about the economic development of Bangladesh and Brazil with a view to opening possibilities for increasing trade and for the expansion of economic and industrial cooperation among the enterprises and organizations of the two countries.

Both Parties will cooperate for sharing of best practices, information, knowledge, methodologies, and expertise on trade promotion and investment attraction.

Both the FBCCI and Apex Brasil will share knowledge and experiences in relation to supporting and facilitating the exchange between Small and Medium Enterprises (SMEs), startups, incubation centers, research institutes, investors and other relevant stakeholders of both countries, as per the negotiation.

Bangladesh and Brazil will assist and facilitate visits of trade and economic delegations to the other country and will render maximum cooperation for establishing business contacts.

FBCCI president Md. Jashim Uddin said that the MoU was signed for recognizing the immense possibilities of promoting economic and commercial cooperation between Bangladesh and Brazil.

"The agreement will further bolster the trade relations between the two countries," he added.

He also invited the Brazilian business leaders to join the Bangladesh Business Summit 2023 to be held in Dhaka on March 11-13 on the occasion of FBCCI's 50th anniversary.

President of Apex Brasil Jorge Viana praised the success of Bangladesh in the national and international arena. He said the negotiation will deepen the economic relations between the two countries.

Senior Secretary of the Commerce Ministry Tapan Kanti Ghosh and Bangladesh Ambassador to Brasil Sadia Faizunnessa were also present at the program.

A six-member delegation including FBCCI President Md Jashim Uddin visited Brazil with the aim of expanding the market of Bangladeshi products in the regional trade market under Mercosur.