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Bangladesh - Biz World - Management - December 13, 2022

Amazing trade relationship of BD with Brazil, Argentina

Bangladesh exports to Brazil and Argentina
RMG, medicines, plastic products, leather products, shoes, children’s toys, mattresses and medical equipment.

Bangladesh imports from Brazil and Argentina:

51 pc of annual import of soybean oil comes from Argentina and 24 pc from Brazil.

Ibrahim Khalil Jewel: When the football world cup comes, the fans of Bangladesh are mainly divided into two groups- Brazil and Argentina. Their passion reaches such a level of excitement that in some places they even involve in fights. While watching the game, not being able to bear the loss of the favorite team, there are cases of death due to heart attack. Such news is not new in the media.
Apart from these aspects, the biggest positive aspect is that the people of Bangladesh love football very much. There is boundless passion, boundless enthusiasm for football. Otherwise, the country that does not have a team in the World Cup, still making flags several kilometers long as a sign of love for the football stars of foreign countries, walking around wearing the jersey of the favorite team – these are all because of the love for football. Football-lovers of this country are fascinated by the football magic of Brazil and Argentina.
Who knows if the news of the madness of Bangladeshi fans has reached Brazil, Argentina. Probably not reached. But this time, thanks to FIFA and social media, the Brazilians and Argentines also know that they have millions of fans in the ‘big-minded’ little Bangladesh. Argentina doesn’t even have the population they have the football supporters in Bangladesh.
Meanwhile, knowing the news, the Brazilian film maker Rafael himself has come to Bangladeshi fans to show the citizens of his own country on camera. Later he will make a film with these footages. He said that he came to know about the existence of so many fans and supporters of Brazil in Bangladesh from the media reports.
Argentine journalist Andres Yosen said that if Argentina wins the World Cup, he will come to Bangladesh to see the excitement of the people of Bangladesh with his own eyes. Argentina Football Federation congratulates Bangladeshi fans. From FIFA’s official Twitter account to Argentine media, Bangladesh’s name is everywhere now. Argentine journalist Yosen shared the photo of Bangladesh’s Argentina fans cheering on his verified Twitter.
Talking to the fans, it is known that especially for the legend footballer Pele andDiego Maradona, there are more supporters of Brazil and Argentina in Bangladesh. And now for Messi and Neymar.
Exports of Bangladeshi products increasing to both countries
This is all about football. Now let’s see how the commercial, diplomatic and cultural exchange relationship of Bangladesh with Brazil and Argentina.
Bangladeshi entrepreneurs regularly export products to Messi-Neymar’s country.
Exports of Bangladeshi products to both Brazil and Argentina are increasing. In this case, however, Brazil is far ahead of Argentina.
Bangladeshi entrepreneurs exported 11.5 times more goods to Brazil than to Argentina in the last fiscal year of 2021-22.
According to Export Promotion Bureau (EPB) data, Bangladesh exported goods worth US$ 9.5 million to Argentina in the fiscal year 2021-22. And exports to Brazil were worth $ 100.92 million, which is 24 percent more than the previous year. In the fiscal year 2020-21, BD exported goods worth $ 88 million.
As Bangladesh exports more goods to Brazil, Brazil imports more goods than Argentina. According to the data of Bangladesh Bank, among the countries from which Bangladesh imports goods, Brazil ranks seventh in terms of quantity.
Brazil, the ninth largest economy in the world, exports wheat, sugar, meat and various types of dry fruits and spices to Bangladesh.
And mainly edible oil is imported from Argentina.
In the last fiscal year 2021-22, Bangladesh imported 34 lakh 66 thousand tons of goods worth $ 2,400 million from Brazil.
Almost the same products are exported from Bangladesh to Brazil and Argentina-
These are: Medicines, plastic products, leather products, shoes, children’s toys, mattresses, medical equipment etc. However, the majority of product exports from Bangladesh to the both countries are readymade garments.
According to BGMEA, $106.6 million worth of clothing was exported to Brazil in the 2019-20 fiscal year before the corona pandemic. The next year it reduced to $70 million. In the last financial year 2021-22, $93.4 million worth of apparels were exported to Neymar’s country.
The major markets for Bangladeshi garments are the United States, the United Kingdom, the European Union (EU) and Canada. Apart from this, Brazil is among the top 15 non-traditional markets.
Shahidullah Azim, vice president of BGMEA, said, “Even a decade ago, very few products were exported to Brazil. In 2010, we went to Brazil from BGMEA to meet with the country’s government officials and businessmen with the aim of increasing exports. Exports have gradually increased since then. Now that is a very potential market for our garments.”
Diplomatic relations
Foreign Minister of Bangladesh congratulated the victory of Brazilian President Lula de Silva. AK Abdul Momen said that Bangladesh is interested in working with the new administration of that country to strengthen political and trade relations with Brazil. Recently, the Foreign Minister welcomed and congratulated the new ambassador of Brazil in Dhaka. The foreign minister said that Bangladesh and Brazil have many things in common, but the volume of trade between the two countries should be increased.
It is known that Brazil and Bangladesh did not have formal diplomatic relations for a long time. In 2010, an embassy of Bangladesh was established in Brazil and a resident ambassador was appointed. Currently, there is an embassy of Brazil in Bangladesh.
Argentina to reopen embassy in Dhaka
Meanwhile, South American country Argentina is planning to reopen its embassy in Bangladesh which has been closed since 1978.
In a report, the South Atlantic news agency The Merco Press said that Bangladeshi support for Messi’s team in the ongoing World Cup football in Qatar is working to implement this plan.
In a tweet on last Saturday, Argentina’s Foreign Minister Santiago Cafiero announced plans to reopen the embassy in Bangladesh. In Cafiero’s tweet in Spanish, he attached a picture of himself with Bangladesh Foreign Minister AK Abdul Momen. In another tweet on the same day, Argentina’s foreign minister mentioned that Argentina’s export to Bangladesh in 2021 was $876 million, which is the highest ever.
Argentina-Brazil fight in soybean oil market also!
51 percent of the annual import of soybean oil in Bangladesh comes from Argentina and 24 percent from Brazil.
Argentina and Brazil have been the main exporters of soybean oil to Bangladesh for many years. Although the difference between the two countries was small, Argentina has come a long way behind Brazil. The gap is more evident from the figure of edible oil import for four months on the occasion of last Ramadan.
Sahabuddin Alam, managing director of SA Group, the marketer of ‘Muskan’ brand soybean oil, said, “Despite peak production, we cannot import soybean oil from the United States, due to the high cost of transportation. We are importing soybean oil from Argentina and Brazil.”
Sahabuddin Alam says that even though he is a Brazil supporter in football, Argentina and Brazil are both countries equal to oil. As a result, there is no particular country preference. And the fight between Brazil and Argentina in the oil market is a coincidence. We accept oil as supplied by the supplier.
Edible oil traders say that mainly two suppliers supply soybean oil to Bangladesh from Argentina and Brazil. Among them, ‘Nidara’ company supplies 80 percent of the total oil and another company named ‘Noble’ supplies 20 percent. Bangladeshi traders book soybean oil through that supplier. After loading some oil in the ship from Brazil and some more oil from Argentina, the ship left for Bangladesh.
Mizanur Rahman, director of Nurjahan Group, said that although China is at the top in soybean oil production, they are busy meeting their own needs. So we prefer Argentina and Brazil.

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