Brazil keen to sign FTA with Bangladesh

[Black_cats]

Brazil keen to sign FTA with Bangladesh
Ibrahim Hossain Ovi

• Published at 10:28 pm October 7th, 2018

Commerce Minister Tofail Ahmed with Brazilian Ambassador to Bangladesh, João Tabajara de Oliveira Junior at the secretariat on Sunday, October 7, 2018 PID

The signing of FTA will open a new avenue for Bangladeshi goods in the Latin American country

On Sunday commerce Minister Tofail Ahmed said Brazil is willing to sign a Free Trade Area (FTA) agreement with Bangladesh to boost bilateral trade between the two countries.

Brazil also seeks to form a Brazil-Bangladesh Chamber of Commerce and Industry to encourage private sector investors of both countries to enhance business communication.

The minister made the announcement at the secretariat in Dhaka yesterday, after a meeting with the Brazilian Ambassador to Bangladesh, João Tabajara de Oliveira Junior,.

“Brazil is a potential market for Bangladeshi RMG products. But due to higher tariffs on apparel goods, Bangladesh cannot penetrate the market,” said Tofail Ahmed.

Currently, exports from Bangladesh to the Brazilian market are subject to 35% duties. A bilateral Free Trade Area agreement would help Bangladeshi products enter their market with lower tariffs, said Ahmed.

The signing of FTA will open a new avenue for Bangladeshi goods in the Latin American country, while formation of a joint chamber will create new opportunities for investment, said the minister.

“As friendly nations, Bangladesh and Brazil maintain good trade relations. Brazil is very eager to increase trade with Bangladesh,” said João Tabajara de Oliveira Junior.

In institutionalizing trade relations between the two countries, forming a chamber and signing an FTA are needed, said the envoy.

According to Export Promotion Bureau (EPB) data, in the last fiscal year, Bangladesh’s export earnings reached $177 million in merchandising exports to Brazil, while it imported goods worth $1.52 billion from the Latin American country.

Bangladesh imports sugar, wheat, and cotton from Brazil and exports apparel products, pharmaceuticals, plastics, tableware, vegetable textile fibre, jute goods, and man-made filaments.

Senior Commerce Secretary Shubhashish Bose, and Additional Secretary Md Obaidul Azam, were present at the programme.

https://www.dhakatribune.com/business/2018/10/07/brazil-keen-to-sign-fta-with-bangladesh

 

[bluesky]

According to Export Promotion Bureau (EPB) data, in the last fiscal year, Bangladesh’s export earnings reached $177 million in merchandising exports to Brazil, while it imported goods worth $1.52 billion from the Latin American country.

I wonder what Bangladesh imports from Brazil. Whatever it may be, the big Latin American market is waiting for penetration of the Bangladesh garments. An FTA will certainly lead BD to enter the Brazilian market and such an entrance will open most other markets in the southern hemisphere, hopefully.

 

[Black_cats]

I wonder what Bangladesh imports from Brazil. Whatever it may be, the big Latin American market is waiting for penetration of the Bangladesh garments. An FTA will certainly lead BD to enter the Brazilian market and such an entrance will open most other markets in the southern hemisphere, hopefully.

https://www.dhakachamber.com/Bilateral/Brazil.pdf

Major Export Items in 2013-14 (In million US $): Woven garments (72.543); Knitwear (97.699); Home Textile (0.386); Footwear (1.087); Raw Jute (1.893); Jute goods (2.309), Bicycle (0.073); Others (2.04)

Major Import Items in 2013-14 (In million US $): Sugar and sugar confectionery (73.9); Animal or vegetable fats oils and their cleavage products: prepared edible fats: animal or vegetable waxes (13.6); Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder (4.8); Man-made staple fibres (1.1); Cotton (all types), cotton yarn / thread and cotton fabrics (1.1); Cereals (0.3); Others (5.2);

Recently Bangladesh imported big quantity of wheat which created controversy as it was rotten and not suitable for eating.

 

[bluesky]

Recently Bangladesh imported big quantity of wheat which created controversy as it was rotten and not suitable for eating.

Our image as a poor country causes many countries to think we would eat anything they push through our mouths. They just do not understand even cows and animals shun rotten foods, let alone a human being. However, sometimes I think that it is our own rich business people who purchase those rotten foods at the rock-bottom prices, bring to BD and sell to the govt authorized shops in connivance with the top political people.

 

[Black_cats]

Our image as a poor country causes many countries to think we would eat anything they push through our mouths. They just do not understand even cows and animals shun rotten foods, let alone a human being. However, sometimes I think that it is our own rich business people who purchase those rotten foods at the rock-bottom prices, bring to BD and sell to the govt authorized shops in connivance with the top political people.

You are right. Food minister Kamrul was involved with it and Chairman of Food Department accepted the shipment despite food inspectors did not give green signal. Brazil however said wheat was shipped without approval of food inspectors of Brazil.

For your info most of the foreign brand products specially foods are expired. Businessman purchased with lowest price from departmental stores when they remove the product from shelf and bring it to Bangladesh. After that they repackage and put new expiry date and sell it at higher price.

 

[bluesky]

Brazil however said wheat was shipped without approval of food inspectors of Brazil.

So, whatever may be its GDP per capita, Brazil remains a 3rd world country when it has no laws or has no implementing authority of laws to inspect the outbound goods.

In the case of Japan, I have the firsthand knowledge of how the Japanese Quarantine department implemented the banning of Japan's export of any motor vehicles contaminated with nuclear radiation after the 2011 earthquake in Fukushima. Every vehicle that entered the port area had to go to a specific zone to go through a radiation checking by the Quarantine.

Handling things in the first world countries is different from that in the third world countries.

 

[Black_cats]

So, whatever may be its GDP per capita, Brazil remains a 3rd world country when it has no laws or has no implementing authority of laws to inspect the outbound goods.

In the case of Japan, I have the firsthand knowledge of how the Japanese Quarantine department implemented the banning of Japan's export of any motor vehicles contaminated with nuclear radiation after the 2011 earthquake in Fukushima. Every vehicle that entered the port area had to go to a specific zone to go through a radiation checking by the Quarantine.

Handling things in the first world countries is different from that in the third world countries.

Brazil is not far behind to become an advanced country. Now it's per capita gdp is $10,224. I believe in next 3-5 years it will meet the requirement to become a lower advanced country.

 

[UKBengali]

BD should push for it's garments to be exported to Brazil.
There is a market there large enough to take many billions every year.

 

[bluesky]

Brazil is not far behind to become an advanced country. Now it's per capita gdp is $10,224. I believe in next 3-5 years it will meet the requirement to become a lower advanced country.

To a conscious person considering the fact that any rotten food can get through the Customs without being truly certified as good for human consumption is a proof that Brazil remains a 3rd world country, same as Bangladesh whatever may be its per capita income.

In my last post, I wrote about the stringent method of contamination inspection of all the cars to be exported in Japanese ports. This time I will send a newspaper report on the Japanese policy on imports of food.

https://mainichi.jp/english/articles/20170323/p2a/00m/0na/004000c
Gov't probes distribution of Brazilian chicken in Japan following hygiene scandal

March 23, 2017 (Mainichi Japan)

Japanese version

Following suspicions that Brazilian meat-processing companies sold meat that didn't meet hygienic standards both within and outside of Brazil, the Japanese government has temporarily halted the import of chicken and other products from the 21 factories under investigation, and on March 22, the Ministry of Health, Labor and Welfare began looking into the distribution of chicken from these factories to Japanese consumers.

• 【Related】Japan halts some meat imports from Brazil amid tainted meat scandal

The ministry's investigation is being conducted via importers of the chicken products. According to the ministry, last fiscal year Japan imported 567,000 metric tons of chicken meat. Brazil-raised chicken accounted for 430,000 tons, or about 80 percent of that amount, and about 20 percent of the total of all chicken sold on the market in Japan.

One of the 21 factories was the source of some 8,900 tons of the imported chicken. In fiscal 2016 about 8,700 tons of chicken was imported into Japan from this factory, but there have been no reports of health problems related to the chicken.

So, irrespective of the per capita GDP, Japan has been and will be regarded as a developed country, but not the countries like Brazil and Bangladesh whatever may be their incomes. They will be regarded at the bottom until they change their countries' policy regarding the import or export of foods, and so many other things.

 

[Gandh brandi]

I don't know why we should blame the exporter. You get what you paid. Unless the importer paid the good quality but got lesser quality.

 

[The Ronin]

Bangladesh, Brazil agree to sign FTA
Independent Online Desk
Bangladesh, Brazil agree to sign FTA
Commerce Minister Tofail Ahmed yesterday said Bangladesh and Brazil have agreed to form a joint chamber of commerce and sign a Free Trade Agreement (FTA) to boost bilateral trade and commerce, reports BSS.

“The businessmen of the two countries will be inspired in trade and communication among them will increase after formation of the Brazil-Bangladesh Chamber,” he told journalists after a view exchange meeting with Brazil Ambassador in Dhaka Joao Tabajara de Oliveira Jonior at the Secretariat.

Brazil is a potential market for Bangladesh’s garments, but Bangladesh cannot export as per its expectation due to high tariff, Tofail said, adding that the country would get trade facilities from Brazil after signing FTA.

Brazil Envoy Joao Tabajara de Oliveira Jonior said, “Bangladesh and Brazil are friendly countries. Both countries have been maintaining trade relations for long”.

Brazil is keen to boost trade with Bangladesh, he said, underscoring the need for forming a chamber and signing a FTA involving businessmen of the both countries to this end.

http://www.theindependentbd.com/post/169555