BD-Brazil accord soon on reducing export duty

Dhaka's move for duty-free market access

Published : Friday, 16 August 2013

Talha Bin Habib

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Bangladesh will sign an agreement with Brazil soon on reducing duty for increasing its export to the largest Latin American country, a high trade official said.

With this end in view, the Brazilian Development, Industry and Trade Minister Fernando da Mata Pimentel is expected to visit Bangladesh this year for signing the agreement, the official added. At present Bangladesh has to pay 40- 45 per cent duty for export of its products to Brazil. And Bangladesh has proposed duty free market access for its products to Brazilian market to boost bilateral trade.

"We have sent a letter to the Development, Industry and Trade Ministry of Brazil requesting it to allow us duty free market access of our products to their (Brazilian) market," Vice- Chairman (VC) of Export Promotion Bureau (EPB) Shubhashish Bose told the FE Thursday.

He said there will be an international trade fair in November next in Brazil. The government officials along with businessmen will participate in the trade fair.

"We will participate in the International Trade Fair in Brazil in November next. We hope we will be able to increase our export in Brazil by showcasing our products during the fair," Mr Bose said. He said that Bangladeshi readymade garments have a wide range of demand in Brazil considering price competitiveness.

He said that Bangladeshi businessmen during their trip with the government officials to Brazil recently held business to business (B+B) meeting. The results of the meeting were fruitful and encouraging to promote bilateral trade.

Exporters suggested gearing up of activities of Bangladesh Embassy in Brazil by efficient and skilled staffs for raising country's export.

Bangladesh mainly imports sugar, soybean oil and machinery items from Brazil while it exports mainly garment items with limited scale. At present the balance of trade is in favour of Brazil.

FIFA World Cup boosts BD RMG export to Brazil

34pc growth achieved in FY'13
Published : Thursday, 11 July 2013

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Bangladesh has achieved a significant export growth of readymade garments (RMG) to the football loving country--- Brazil due to increasing demand for sportswear ahead of the FIFA World Cup 2014. The Brazilian football supporters in Bangladesh will be more enthusiastic during the greatest show on earth . World Cup when they will come to know that their favourite player Neymer da Silva will wear Bangladesh made jersey when he would kick his best 'left leg kick'. Many of Brazilian RMG importers have increased their orders for T-shirts, jerseys, trousers, pullovers, cardigans, waist-coats, caps, blazers and trousers. State-run Export Promotion Bureau (EPB) data shows that the total RMG exports to Brazil has increased by more then 34 per cent in last fiscal year (FY) 2012-13 compared to the corresponding period of FY 2011-12. "For increasing Bangladeshi RMG to Brazil the World Football Cup is a great opportunity for Bangladesh apparel sector," Vice President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Nasiruddin Ahmed Chowdhury told the FE.

He said in the last few months, the country's RMG export orders have increased significantly to the Brazilian market. He said Adidas, Puma and Nick are the top sportswear sellers in the world; they are increasing their import orders from Bangladesh. According to the Research Cell under BGMEA, more than 100 local RMG factories including Navana Textile Ltd, Keya Composite Ltd, Energy Pack Fashion Ltd, Deco Fashion Ltd and Aftab Garments Ltd are involved in making World Cup clothes. Managing Director of Nassa Group Khandakar Mohammed Saiful Islam said the country's RMG export increases generally before any world class game including FIFA, Olympic, Confederation Cup and ICC Cricket World CUP. Managing Director of Giant Group Faruk Hassan said country's sportswear has been going to the global hub for outsourcing international buyers due to better quality and competitive price. Meanwhile, Bangladesh exported RMG products worth $21.51 billion in the last FY 2012-13 which was $ 19 billion in the fiscal year 2011-12.