Opportunities in Brazil–Bangladesh Trade: A Decade-Long Analysis

Secretary General, Brazil Bangladesh Chamber of Commerce & Industry (BBCCI)

Introduction

Brazil and Bangladesh, two major emerging economies on different continents, have increasingly explored trade and investment partnerships in recent years. Brazil is the largest economy in Latin America and a global agricultural and mineral commodity powerhouse, while Bangladesh is one of South Asia’s fastest-growing economies and a world leader in textile manufacturing. Despite the geographical distance, their trade relationship has deepened over the last decade, with bilateral trade crossing the $2–3 billion mark by the mid-2020s[1][2]. This study examines the export and import profiles of both countries, identifies complementary products, and highlights sectors where Bangladeshi entrepreneurs can engage in exports, imports, or joint venture investments with Brazil. We incorporate relevant statistics from the past ten years, including trade volumes, to provide a data-driven foundation for potential business opportunities.

2.0 Background: Trade Profiles of Brazil and Bangladesh

2.1 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. According to WTO data, Brazil exported $339.7 billion in goods in 2023[3]. The top export commodities are:

Soybeans – Brazil’s single largest export (≈15.7% of export value)[4], reflecting its status as a top global soybean producer.
Petroleum oils (crude & refined) – ~12.5% of exports[4], as Brazil is an oil producer.
Iron ores – ~9% of export value[4], leveraging vast mineral resources.
Sugar (cane or beet) – ~4.6%[4]; Brazil is the world’s largest sugar exporter.
Maize (corn) – ~4%[4]; Brazil is a leading corn exporter as well.
On the import side, Brazil’s domestic industry and consumers drive demand for fuel, machinery, and high-tech goods. In recent data, its main imports included:
Refined petroleum oils – about 11% of import value[4] (despite being an oil producer, Brazil imports certain refined fuels).
Automotive parts and accessories – ~3%[5], supporting Brazil’s automobile assembly industry.
Aircraft and engine components (e.g. turbojets) – ~2.6%[5].
Motor vehicles (cars) – ~2.4%[6], alongside other machinery and electronics not produced locally.

Brazil’s export partners are led by China (30.7%) and the USA (11%), while imports come mainly from China (22.2%), the USA (15.9%), and Europe[7]. Bangladesh is not yet a top-tier trade partner for Brazil, but its importance is growing as Bangladesh imports more Brazilian commodities and Brazil opens to more Bangladeshi goods.

2.2 Bangladesh’s Export and Import Profile

Bangladesh’s economy is heavily export-oriented in manufactured consumer goods, and it relies on imports for fuels, industrial inputs, and food commodities. Merchandise exports were about $55.7 billion in 2023[8], while imports were $66.8 billion[8], reflecting a chronic trade deficit. The export basket is highly concentrated in textiles and apparel:

Ready-made garments (RMG) – the dominant sector, comprising roughly 81% of exports (about 43.4% knit apparel and 37.9% woven apparel by value)[9]. Bangladesh is the world’s second-largest apparel exporter, after China.
Footwear – around 2.2% of export earnings[9].
Other goods – include jute and jute products, leather goods, seafood, ceramics, and pharmaceuticals, but each of these is a small single-digit percentage of exports. (For example, raw jute and jute goods together were only a few million dollars in earlier years[10].)
Bangladesh’s imports are driven by its need for energy and raw materials for industry and food security. Top import categories include:
Refined petroleum – about 10.4% of import value (for transport and industry)[11].
Natural gas (LNG) – around 4.0%[12], as Bangladesh began importing LNG to fuel power plants.
Raw cotton – 3.3%[12]; Bangladesh is the world’s second-largest cotton importer, feeding its textile mills[13].
Iron and steel (scrap) – ~2.7%[12], used by Bangladesh’s re-rolling mills for construction steel.
Synthetic fibers and yarn – e.g. non-retail pure cotton yarn ~2.2%[12], plus other textile inputs, machinery, and staple food items (like wheat, edible oils) which are significant but individually may not appear in the top five.

Bangladesh’s main import partners are China (34.5% of imports) and India (17.0%), followed by Indonesia, Singapore, and Malaysia[14]. Brazil does not yet rank among the top few, but it has become a major supplier for certain commodities (sugar, cotton, soybeans) as we will see. For exports, Bangladesh’s top markets are the United States (15.7%), Germany (15.2%), the UK (7.8%), and other EU countries[14]. Brazil, as an emerging market destination for Bangladeshi goods, has recently shown rapid growth in importation of Bangladeshi products (especially apparel)[15].

Opportunities in Brazil–Bangladesh Trade: A Decade-Long Analysis

3.0 Bilateral Trade Trends (2011–2025)

Trade between Bangladesh and Brazil has grown substantially over the past decade, albeit from a low base in Bangladesh’s export case. Figure 1 illustrates the trend in Bangladesh’s imports from Brazil vs. its exports to Brazil from 2011 through 2024. Bangladesh runs a large trade deficit with Brazil: it imports far more from Brazil (mainly commodities) than it exports to Brazil.

Table 1. Brazil’s Top Export Commodities vs. Bangladesh’s Import Needs

Brazil’s Top Exports (Share)**	Bangladesh’s Import Needs	Opportunity for Bangladesh
Soybeans (15.7%)	Edible oil & animal feed (soybean)	Import soybeans/soy oil; JV in agribusiness
Crude & refined oil (12.5%)	Refined fuel, LNG (energy)	Possible crude import trials; energy cooperation
Iron ore (9%)	Iron/steel scrap, machinery	Future steelmaking input; currently limited by tech
Sugar (4.6%)	Sugar (food industry)	Import sugar; invest in Brazilian sugar production
Maize (corn) (4%)	Maize for poultry/fish feed	Import corn for feed; JV in grain storage/trade
Cotton (–) ** [Brazil ~4th globally]	Raw cotton for textiles (3.3%)	Import cotton; JV in cotton farming/ginning
(Others: coffee, meat, wood, etc.)	Food items (wheat, fruits, coffee, etc.)	Import coffee; niche food imports

Figure 1: Bangladesh’s imports from Brazil vs. exports to Brazil, 2011–2024 (in million US$). The trade gap has widened as Bangladesh’s imports of Brazilian commodities surged.

Several patterns stand out from Figure 1 and trade records:

Surge in Bangladeshi Imports from Brazil: Bangladesh’s imports from Brazil have more than tripled in value over the decade. Around 2011–12, Bangladesh imported roughly $0.8–1.2 billion per year from Brazil[16]. By fiscal year 2023–24, imports from Brazil reached $2.66 billion[1]. This growth (with some year-to-year fluctuations) 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 $2.24 billion in 2021–22, rising to $2.66 billion in 2023–24[1]. These imports have made Brazil one of Bangladesh’s top 10 import sources (around 8th rank) in recent years[17].

Bangladeshi Exports to Brazil – Growing from a Low Base: Bangladesh’s exports to Brazil have historically been modest, but have shown a steady upward trend with a few fluctuations. In FY2011–12, Bangladesh exported about $156 million to Brazil[18]. Exports hit a high of around $175 million in 2022–23[2], dipped slightly to $147 million in 2023–24[2], and then reached a new high of $187 million in FY2024–25[2]. This is a 26% increase from the previous year, reflecting Bangladesh’s recent efforts to expand into the Latin American market. Still, Brazil accounts for only around 3% of Bangladesh’s total export earnings[15], indicating significant room for growth. Readymade garments (RMG) dominate these exports (more on this below).

Trade Imbalance: The bilateral trade is heavily imbalanced in Brazil’s favor. In 2023–24, for instance, Bangladesh imported about 18 times more value from Brazil than it exported to Brazil (imports $2.66 bn vs exports $0.147 bn)[1][2]. The trade deficit with Brazil was about $2.1–2.3 billion in recent years[17]. This gap underscores Bangladesh’s reliance on Brazil for essential commodities and the relatively limited penetration of Bangladeshi goods in Brazil so far.

Commodity-driven Fluctuations: The year-to-year changes in trade often correspond to commodity price swings and crop conditions. For example, if global cotton or sugar prices spike, Bangladesh’s import bill from Brazil rises. The data show a dip in Bangladesh’s imports around 2012–2013[19], likely due to commodity price drops or Brazil’s domestic issues, followed by rapid growth post-2016 as prices and volumes rose again. On the export side, Bangladesh’s big drop in exports to Brazil around 2013–14[20] coincided with an economic slowdown in Brazil (recession in 2014–2016) which dampened Brazilian import demand, including for apparel.

Overall, the trend is increasing engagement. Brazil is keen to deepen trade ties, seeing Bangladesh as a “new economic giant” in South Asia[21]. Bangladesh, for its part, is looking to diversify export markets beyond North America and Europe, especially as it prepares to graduate from LDC status and face higher tariffs in Western markets[22]. The following sections identify concrete opportunities in goods and services that Bangladeshi businesses can explore, given the trade patterns.

4.0 Export Opportunities for Bangladesh in the Brazilian Market

Despite Brazil’s large economy, Bangladeshi products have only a small foothold there so far, but the growth in recent years signals untapped potential. Here we match Bangladesh’s export strengths with Brazil’s import needs, highlighting products and services that could see expanded Bangladeshi export or investment presence in Brazil. Key opportunities include:

Textiles and Ready-Made Garments (RMG): This is by far Bangladesh’s biggest opportunity in Brazil. As of 2022, Brazil imported $5.9 billion worth of textiles and clothing from the world[22]. Bangladesh, a top apparel exporter globally, supplied only about $150 million of that (roughly 2.5%)[22], mostly in products like jerseys, T-shirts, pants, jackets, and other apparel[15]. There is substantial room to grow this share, especially in basic and mid-range apparel where Bangladesh is very competitive. Brazilian retailers currently import a lot of clothing from China and other countries; Bangladeshi exporters (often suppliers to global brands) can offer quality apparel at competitive prices. Strengthening marketing channels in Brazil or partnering with Brazilian importers/retailers could boost these exports. Notably, Bangladesh’s apparel exports to Brazil jumped ~60% in 2022–23[15], indicating accelerating demand. An FTA or reduced tariffs (Brazil is part of Mercosur which has relatively high external tariffs on apparel) would further unlock this potential[22]. In addition, Bangladeshi textile firms could consider joint ventures in Brazil’s textile sector for instance, investing in fabric or garment finishing facilities in Brazil to overcome tariff barriers and “produce and sell local,” leveraging Bangladeshi expertise in apparel production.

Jute and Eco-Friendly Products: Bangladesh is a leading producer of jute, a natural fiber used for sacks, carpets, and eco-friendly packaging. As the world shifts away from plastics, Brazil’s market for eco-friendly jute goods (shopping bags, geotextiles, etc.) could grow. Bangladesh could export jute yarn, hessian cloth, and finished jute products to Brazil. Currently, these are not major trade items, but officials have suggested Bangladesh promote jute goods to diversify exports and narrow the trade gap with Brazil[23]. There may also be niche uses in Brazil’s agricultural sector (for example, jute matting for soil conservation). Bangladeshi businesses could collaborate with Brazilian distributors specializing in sustainable products to develop this market.

Leather Products and Footwear: Bangladesh has a significant leather and leather goods industry (exporting shoes, bags, belts, etc.), while Brazil has its own leather production but also a large consumer market. High-quality Bangladeshi leather footwear and goods could find a market in Brazil, especially if they are cost-competitive. Brazil imported about $1.1 billion of footwear in 2022 (much from Asian countries) and also imports leather goods to supplement domestic production. Promoting Bangladeshi leather footwear, which already earned ~$577 million globally in half of FY2024-25[24], could be viable. Joint ventures could also be explored: for example, a Bangladeshi shoe manufacturer partnering with a Brazilian brand to produce certain lines or to distribute in Brazil.

Pharmaceuticals and Medical Products: Bangladesh’s pharmaceutical sector is a rising star, exporting to 150+ countries (including regulated markets). While current pharma exports to Brazil are small (e.g. only about $1.4 million in 2018)[25], there is potential. Brazil has a large pharmaceuticals market and often imports generic drugs. Bangladeshi pharma companies (known for affordable generics) can target Brazil with products like generic medicines, APIs, and medical devices. Regulatory approval in Brazil can be complex, so a joint venture with a Brazilian pharmaceutical firm or acquiring a local Brazilian generic manufacturer might be a strategic approach for market entry. Indeed, the Brazilian ambassador has lauded Bangladeshi pharma companies’ capabilities and hinted at opportunities to export generics to Brazil[26]. Over time, this could become a significant services and products export category (including technology transfer, since Bangladesh has expertise in producing quality generics at low cost).
Plastics, Chemicals, and Other Light Manufacturing: Bangladesh exports some plastics products (household plastics, packaging materials) and ceramics/tableware which have found niche markets abroad. The Brazilian market for such goods could be explored – for instance, Bangladeshi ceramic tableware is world-class and could appeal to Brazilian importers. The same goes for basic consumer goods like toiletries, plastic utensils, etc., if they meet Brazilian standards. These currently form a minor portion of exports (the basket beyond apparel is small), but any growth in these “other” categories will help diversify exports. For example, Bangladeshi exports to Brazil have included plastic products, tableware, handicrafts, and even some sports jerseys and equipment[27][28] (aside from apparel), albeit in small values. Focused trade promotion in these areas – perhaps at trade fairs or through diaspora connections – could incrementally increase their volumes.

IT and Service Exports: Although goods trade dominates, services should not be overlooked. Bangladesh’s IT outsourcing sector is growing, and Brazilian companies (especially tech firms or back-offices) might look for cost-effective outsourcing of software development, data processing, or customer support. Time zone and language differences are challenges, but specific niches (like English-language back-office services for multinationals present in Brazil) could be targeted. Additionally, education and training services (e.g., Bangladeshi professionals or institutes offering IT and engineering training to Brazilian students remotely) and tourism services (attracting medical tourists from Brazil, or facilitating travel of Bangladeshi tourists to Brazil) are areas a Bangladeshi entrepreneur could explore in the long term.

In summary, Bangladesh’s best prospects to export to Brazil lie in matching its manufacturing strengths to Brazil’s market needs, apparel is top of the list, with others like leather goods, jute products, pharmaceuticals, and various light manufactures also holding promise. Success in these areas may require active marketing, quality compliance, competitive pricing, and sometimes local partnerships in Brazil to navigate regulatory and distribution channels.

5.0 Import Opportunities for Bangladesh from Brazil

On the import side, Brazil is already a crucial supplier for Bangladesh in several categories. A Bangladeshi business looking to import from Brazil (or invest in Brazilian supply chains) will find opportunities mainly in commodities and agricultural goods, where Brazil is a world-leading exporter. Key import opportunities include:

Raw Cotton: Perhaps the most strategic import for Bangladesh’s textile industry. Bangladesh’s spinning and textile mills rely on imported cotton (Bangladesh grows very little cotton domestically). Brazil, as one of the world’s top cotton producers/exporters, has become a significant supplier. In FY2021–22, raw cotton was among the main imports from Brazil[29]. Bangladeshi mills imported over $600 million of cotton from Brazil in 2024[30], making cotton nearly a quarter of Bangladesh’s total cotton import needs. With Bangladesh being the 2nd-largest cotton importer globally[13], securing reliable cotton supply is vital. Importing more Brazilian cotton (especially as an alternative to other sources like the US or India) is an opportunity. Entrepreneurs could establish direct procurement offices in Brazil’s cotton-growing regions or form joint ventures with Brazilian cotton farmers/ginners. This can ensure consistent quality and potentially better prices. The Brazilian government and industry have shown interest in supplying more cotton to Bangladesh as well[13], indicating a receptive environment for such trade or investment (e.g. contract farming or joint cotton trading companies).

Sugar: Bangladesh is a huge sugar importer (as domestic production is limited). Brazil is the world’s largest sugar exporter, with very competitive prices. In fact, sugar has been the single largest import item from Brazil to Bangladesh in recent years. For example, Brazil exported about $758 million of sugar to Bangladesh in 2024[30], and sugar & sugar products comprised a major share of the $2.24 billion Brazilian exports to Bangladesh in 2021–22[29]. There is continuing demand in Bangladesh from food & beverage industries and consumers. A Bangladeshi trading firm can import Brazilian cane sugar (raw or refined) in bulk. Opportunities also exist for investing in Brazilian sugar mills or plantations as a way to secure long-term supply – a joint venture where a Bangladeshi investor co-owns part of a sugar mill in Brazil could provide a steady flow of sugar (and even byproducts like molasses or ethanol) back to Bangladesh. Additionally, Brazilian sugar is sometimes re-exported after refining; Bangladeshi refineries could import Brazilian raw sugar, refine it domestically (creating local jobs), and then sell domestically or to regional markets.

Edible Oils and Oilseeds (Soybean Complex): Brazil is an agricultural superpower in oilseeds. It is the world’s largest producer and exporter of soybeans, and also a major exporter of soybean oil and meal. Bangladesh imports large quantities of edible oil (palm and soybean oil) and protein meal for poultry/fish feed. Traditionally, Bangladesh sourced palm oil from Southeast Asia and soybean oil from South America (Argentina, Brazil) or North America. Soybeans/soy oil from Brazil is a key import opportunity. In some years, Bangladesh directly imported Brazilian soybeans (for local crushing) or soybean oil. In 2021-22, along with sugar and cotton, soybeans were a main Brazilian export to Bangladesh[29]. Data from 2018 show Bangladesh imported over $324 million of vegetable oils and a substantial amount of oilseeds from Brazil[31]. Bangladeshi agribusiness firms can expand this trade – for instance, by importing Brazilian soybeans and processing them in Bangladesh’s growing oil crushing facilities. Alternately, one could partner with Brazilian soy growers in a joint venture farm or invest in a Brazilian oilseed crushing operation, ensuring a share of output is shipped to Bangladesh. Beyond soy, Brazil also exports other oilseeds (like cottonseed or sunflower) and edible oils (like soybean oil) that Bangladesh can tap into.

Cereals (Wheat and Maize): Bangladesh is a major importer of food grains, particularly wheat (for flour) and maize (for animal feed and food processing). While much of Bangladesh’s wheat comes from countries like Russia, Ukraine, Canada, or India, Brazil occasionally exports wheat and is a consistent exporter of maize (corn). In fact, corn is one of Brazil’s top exports, and Bangladesh’s poultry and aquaculture industries have rising demand for maize as feed. Recent trade data show Bangladesh importing Brazilian corn, for example, in a single month (August 2025) Brazil exported about $35 million of corn to Bangladesh[32]. Over a year this can be a significant volume. A Bangladeshi feed mill or trading company can benefit by importing Brazilian maize, especially off-season when prices dip. Brazil’s second annual corn harvest (safrinha) often leads to surplus corn available mid-year at good prices. Similarly, in years when wheat supply from traditional sources is tight (e.g. disruptions in the Black Sea region), Brazil has occasionally supplied wheat to Asian markets – Bangladeshi traders could consider Brazil as a supplementary wheat source. Joint ventures could involve storage or silo facilities: for instance, investing in grain storage in Brazilian ports to consolidate purchases, or partnering with Brazilian grain exporters (like ABCD commodity firms) for assured grain supply to Bangladesh.

Animal Protein and Food Products: Brazil is the world’s largest exporter of beef and a leading exporter of poultry (chicken), as well as a significant producer of other foods like coffee, fruits, and dairy. Bangladesh’s market for imported meat is currently small (due to self-sufficiency in fish and some meats, plus cultural factors – e.g. preference for halal slaughter). However, as incomes rise, there could be niches for importing quality Brazilian beef (halal-certified) for hotels/restaurants, or chicken and poultry genetics for improving local farms. Milk powder and dairy ingredients are another area – while New Zealand and Australia dominate Bangladesh’s milk powder imports, Brazil’s dairy industry (though not a top exporter) might offer competitive products regionally. Moreover, coffee is a notable opportunity: Brazil is the largest coffee producer, and coffee consumption is rising in urban Bangladesh (café culture growth). Bangladeshi entrepreneurs can import Brazilian coffee beans for the local market. Some are already doing so on a small scale; this could be expanded by sourcing directly from Brazilian coffee growers or via joint ventures (e.g., a Bangladeshi coffee company partnering with a Brazilian coffee farm or exporter for a dedicated supply of specialty coffee). Tobacco is another commodity, Brazil grows tobacco and Bangladesh’s cigarette industry might blend imported leaf for flavor; Brazil did export some tobacco to Bangladesh (mentioned in trade lists[33]). Although not a “healthy” sector, it is a business reality and an import avenue nonetheless.

Minerals and Industrial Raw Materials: Brazil’s rich mineral resources mean it can supply iron ore, manganese, coal and other minerals. Bangladesh’s steel industry mostly relies on scrap metal rather than iron ore (since Bangladesh doesn’t have large blast furnaces for ore). However, if in the future Bangladesh were to develop steelmaking capacity from ore, Brazilian iron ore (high-grade) would be an option. Additionally, fertilizers: Brazil imports fertilizers itself, but also produces some (phosphate rock, etc.). Bangladesh, with its large agriculture sector, needs fertilizers; while traditionally sourced from places like Middle East or China, looking at Brazil for any fertilizer materials or jointly investing in fertilizer production (Brazil has phosphate deposits) could be considered in a long-term view.

Energy Resources: As Bangladesh’s energy needs grow, it might look to diversify sources of coal or LNG. Brazil has coal reserves (though not a major coal exporter) and is expanding LNG terminals (but mostly to import LNG itself). Brazil is a net exporter of crude oil, but Bangladesh’s refineries are geared to Middle Eastern crudes; still, Bangladeshi oil companies or traders could consider trial purchases of Brazilian crude if quality matches. More feasible is Ethanol, Brazil’s sugarcane ethanol is globally famous as a biofuel. Bangladesh does not yet use much ethanol in fuel blending, but if policies change (for cleaner fuel or cost-saving), importing Brazilian ethanol for blending with gasoline could be an opportunity. A joint venture in ethanol trade or even setting up an ethanol storage/blending facility in Bangladesh with Brazilian supply is a potential business angle.

In summary, Bangladeshi importers should focus on Brazil’s strengths in agriculture and mining. Commodities like cotton, sugar, soybeans, maize, coffee, and meat are natural fits to import. Many of these imports already occur; the opportunity is to scale them up and integrate more closely (through direct sourcing agreements or investments in Brazil’s supply chain). By doing so, businesses can secure better pricing and supply stability. Given the volume of these trades, even incremental improvements or intermediation can be profitable.

Made in Bangladesh Expo 2025 in Sao Paulo, Brazil

6.0 Joint Venture and Investment Prospects

Beyond straightforward buying and selling of goods, there are opportunities for deeper collaboration through joint ventures (JV) or direct investments, leveraging the strengths of both countries. These can be in production (farming or manufacturing) or in services and infrastructure. Some promising avenues include:

Agricultural Joint Ventures in Brazil: As highlighted, Bangladesh needs commodities like cotton, oilseeds, sugar, and grains, which Brazil produces abundantly. A visionary Bangladeshi investor or consortium could invest in Brazilian agriculture to create a vertically integrated supply line. For instance, joint venture cotton farming: A Bangladeshi textile firm could partner with Brazilian farm operators to cultivate cotton on Brazilian farmland, ensuring a portion of the yield is reserved for shipment to Bangladesh’s mills. This could hedge against global cotton price volatility and supply disruptions. Similarly, a JV could be formed for soybean farming or soybean processing where a Bangladeshi edible oil company co-invests in a Brazilian crush plant, taking back soybean oil (for cooking oil) and soybean meal (for Bangladeshi poultry/fish feed). In sugar, a Bangladeshi sugar refiner might invest in a stake of a Brazilian sugar mill or a greenfield cane plantation. These sorts of investments would be a natural synergy: Brazil has land and yield, Bangladesh has demand and capital seeking resources. Such JVs may also benefit from Brazilian incentives for foreign investment in agribusiness and can be facilitated by agreements at the governmental level.

Industrial Manufacturing Ventures: There is scope for manufacturing collaboration, either in Brazil or Bangladesh, depending on market orientation. For example, textile and apparel manufacturing in Brazil: Given high import tariffs on apparel in Brazil, one way to increase Bangladeshi apparel presence in the Brazilian market is to produce some goods locally. A Bangladeshi garment manufacturer could establish a factory in Brazil (perhaps as a JV with a Brazilian apparel company or local partner). This factory might use Bangladeshi expertise in efficient production while employing Brazilian labor (taking advantage of proximity to the South American market). The output could serve Brazil’s domestic market and neighboring Mercosur countries tariff-free. This is a longer-term, capital-intensive play and would likely focus on higher-end or quick-turnaround products (since basic clothes can still be more cheaply shipped from Bangladesh despite tariffs, due to low production cost). Conversely, Brazilian companies might invest in Bangladesh’s manufacturing For instance, Brazilian textile or footwear firms could set up production in Bangladesh to leverage its low costs and then export globally (including back to Brazil if needed). We already see interest: for example, Brazil’s Coteminas (a textile firm) has sourced textiles from Bangladesh, and there are ongoing dialogues about investment.

Pharmaceutical and Healthcare Collaboration: As mentioned earlier, Bangladeshi pharma firms eyeing Brazil could either export or localize production. A promising strategy is a joint venture in Brazil’s pharmaceutical sector – e.g., a Bangladeshi generic drug company partners with a Brazilian pharma distributor or manufacturer. They could set up a formulation plant in Brazil producing affordable generic medicines. This leverages Bangladesh’s low-cost formulation skill and Brazil’s market access. The Brazilian healthcare sector is vast; producing locally also navigates regulatory preferences for local manufacturing. In return, Brazilian pharmaceutical or biotech companies might find opportunities in Bangladesh – for instance, Brazil’s expertise in vaccines (like their Fiocruz institute) could tie up with Bangladeshi pharma to produce or research vaccines and biotech products for South Asia. Another area is medical services: high-end Brazilian hospitals or clinics could partner with Bangladeshi counterparts for knowledge exchange, or Bangladeshi medical professionals could be trained in Brazil in fields like tropical medicine, benefiting healthcare in both countries.

Energy and Natural Resources Projects: A unique area of cooperation could be energy. Bangladesh’s state oil & gas company (Petrobangla) and Brazil’s Petrobras have a history – Petrobras had investment in Bangladeshi offshore gas exploration in the past. Renewing such partnerships would be beneficial: Brazilian investment in Bangladesh’s gas exploration or Bangladeshi investment in Brazilian oil fields (though Bangladesh’s capacity for that may be limited) are conceivable. Moreover, Brazil is a leader in biofuels (ethanol from sugarcane, biodiesel from soy). Joint research or pilot projects in Bangladesh for biofuel production could be done with Brazilian technical collaboration – for example, using Bangladeshi crops (like molasses from sugar mills or jute stick biomass) to create ethanol, applying Brazilian know-how. On the Bangladeshi side, companies could invest in Brazil’s renewable energy projects (Brazil has large hydropower and is growing in solar/wind) if looking to diversify their portfolio, or joint ventures in mining certain minerals (if Bangladesh needs assured supply of, say, rock phosphate for fertilizer, a JV to develop a Brazilian phosphate mine could be explored).

Fisheries and Farming in Bangladesh: Brazil’s agritech expertise could help improve Bangladesh’s agriculture. While land is scarce in Bangladesh, productivity can be boosted. Brazilian agribusiness firms (world leaders in tropical agriculture) could partner in Bangladeshi farming projects for example, introducing higher-yield crop varieties, efficient farm management, or livestock genetics. A Brazilian livestock company might invest in Bangladesh’s poultry or dairy farms, bringing better breeds and feed practices. These would be joint ventures in Bangladesh that enhance output to meet local demand (less directly about trading with Brazil, but a form of investment partnership). Similarly, Bangladesh’s aquaculture (fish farming) is strong; Brazil has vast aquaculture potential too. Cross-investment or joint R&D in fisheries (shrimp farming technology exchange, etc.) could be mutually beneficial, perhaps under joint academic or private sector ventures.

Infrastructure and Engineering Services: Brazilian engineering companies have global experience (Brazil’s firms have built roads, dams abroad). Bangladesh has a huge infrastructure development agenda (bridges, metro systems, power plants). There is room for Brazilian companies to join projects in Bangladesh via joint ventures with local firms. For instance, a Brazilian construction firm could partner with a Bangladeshi contractor to bid on infrastructure projects in Bangladesh, combining international expertise with local know-how. Conversely, Bangladeshi construction companies might not venture to Brazil due to scale, but niche service providers (like IT or engineering design services) from Bangladesh could contract for Brazilian projects remotely. Additionally, Embraer, Brazil’s famed regional aircraft manufacturer, could be a partner for developing Bangladesh’s aviation sector – perhaps setting up maintenance facilities or even an assembly under JV in Bangladesh, as the country’s air travel market grows (this is speculative, but an example of high-end industrial collaboration).

Services and Knowledge Exchange: Beyond tangible projects, services sectors offer collaborative prospects. For example, tourism and hospitality: Brazil attracts tourists for carnivals, Amazon, etc., and Bangladesh is developing its own tourism (beaches, eco-tourism). A joint venture could be a Brazil-Bangladesh tourism package company to promote cross-tourism (though volumes may be limited now). Education: Bangladeshi universities could partner with Brazilian universities for student exchange or joint research, and entrepreneurs can facilitate these exchanges (educational consultancies). Sports and entertainment is another unique bridge – Brazil is football-crazy, as is Bangladesh; we’ve seen cultural exchanges (Bangladeshis passionately follow Brazilian football). There could even be business in sports goods trade or training academies (a Brazilian football academy branch in Bangladesh as a JV, for instance, which already informally happens through coaches). While these may not be large investment areas, they build soft ties that often precede stronger economic partnerships.

In all such joint ventures, both governments have shown support for closer economic ties. Brazil’s ambassador has emphasized keenness to deepen ties with Bangladesh[21], and Bangladesh is focusing on non-traditional partners. Bangladeshi businessmen venturing into Brazil will need to navigate differences in language (Portuguese), regulatory environment, and business culture – local partnerships or hiring local experts can mitigate these. Likewise, inviting Brazilian investment into Bangladesh may require addressing concerns like ease of doing business, but progress is being made via economic reforms.

7.0 Conclusion

The Brazil–Bangladesh economic relationship is poised for significant expansion. Brazil’s strength in commodities and industrial prowess complements Bangladesh’s needs, while Bangladesh’s manufacturing export base offers products that can find a growing market in Brazil’s large consumer economy. Over the last ten years, trade between the two countries has grown in volume and importance, albeit unevenly. Bangladesh now sources a substantial portion of critical inputs like cotton and sugar from Brazil[29], and Bangladeshi apparel exports to Brazil, though still small, are rising swiftly[15].

To capitalize on these trends, Bangladeshi businesses should pursue a multi-pronged strategy: increase direct exports to Brazil in sectors of comparative advantage (textiles, clothing, leather, etc.), import vital commodities from Brazil at competitive terms (potentially negotiating long-term contracts to stabilize supply and price), and engage in joint ventures/investments that lock in mutual benefits (such as co-investing in resource production or manufacturing for shared markets). Tables 1 and 2 below summarize how the two countries’ export/import profiles align, highlighting areas of synergy:

Table 2. Bangladesh’s Top Export Commodities vs. Brazil’s Import Demand

Bangladesh’s Top Exports (Share)**	Brazil’s Import Demand	Opportunity in Brazil
Knit garments (43.4%)[9]	Clothing imports ($5.9 bn/yr)[22]	Export RMG; expand market share in apparel
Woven garments (37.9%)[9]	Clothing imports (as above)	Export RMG (woven); consider local production JV
Footwear (2.2%)[34]	Footwear imports (>$1 bn/yr)	Export leather footwear; partner with Brazilian brands
Home textiles, jute goods, etc. (~1% each)	Technical textiles, sacks, home goods	Export jute products (bags, rugs); niche home textile exports
Pharmaceuticals (<1% but growing)	Medicine (large pharma market)	Export generics; JV to produce in Brazil
Plastics, ceramics, etc. (small shares)	Consumer goods, tableware, etc.	Export ceramics & plastics; target niche markets
Services (IT, etc.)	IT, outsourcing (growing sector)	IT services export; outsourcing partnerships

Sources: Composition data from trade profiles[4][9]; import demands from various sources as cited in text.

As shown above, there is a clear complementarity: Bangladesh needs what Brazil sells (raw inputs), and Bangladesh sells what Brazil’s consumers use (manufactured goods). This complementarity can be leveraged to foster a more balanced trade relationship in the future. Both governments appear supportive, Bangladesh is seeking new markets like Brazil to sustain export growth (especially as preferential access in developed markets wanes)[22], and Brazil’s leadership views Bangladesh as a promising partner in Asia[21].

In moving forward, a few considerations are vital. Businesses will benefit from trade facilitation and agreements for example, pursuing a Bangladesh–Mercosur free trade agreement could reduce tariffs and give Bangladeshi exports a boost in Brazil[22], while also ensuring smoother import of Brazilian goods. Diversifying the export basket (adding jute, leather, etc., not just relying on garments) will help Bangladesh reduce its massive trade deficit with Brazil[35]. On the investment front, identifying reliable local partners and understanding Brazil’s regulatory landscape (which can be complex for outsiders) is key to successful joint ventures. Cultural exchange and diaspora ties (there are 7,000–8,000 Bangladeshis in Brazil now[36]) can further bridge gaps and support business networking.

In conclusion, the last decade of Brazil-Bangladesh trade has laid the groundwork, and the next decade could see this partnership flourish across multiple sectors. With strategic initiatives by enterprising Bangladeshi businessmen, from importing critical commodities to exporting competitive products and investing in joint ventures, both countries stand to gain. Bangladesh can ensure raw material security and market diversification, while Brazil can find a growing market for its goods and a source of quality imports. A win-win partnership is on the horizon, built on the robust complementarities documented in this study.