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What are the Agriculture and Agribusiness business potential between Bangladesh and Brazil?

Published at মে ২৫, ২০২৩ Desk: ACI Agribusiness President Dr. F.H. Ansery shed light about these issues while he presented a paper on Sectorial (Poultry & Agribusiness). The program titled “Brazil-Bangladesh Trade Conference-2023” was held at on today (May 25, Thursday) in Renaissance Dhaka Gulshan Hotel. Minister of Commerce of Bangladesh Tipu Munshi was present there as guest of honor.

Ambassador of Brazil Paulo Fernando Dias Feres, FBCCI President Md. Jashim Uddin, Alex Giacomelli da Silva, Ambassador and Director of the Dept. of Trade Promotion, Investment Attraction & Agriculture and Khandker Masudul Alam, Acting DG, South America Wing, MOFA were also present at this time.

The event was jointly organized by the Ministry of Foreign Affairs (Brazil), DPRA (Department of Trade Promotion, Investment Attraction and Agribusiness in Brazil), ApexBrazil and BBCCI (Brazil-Bangladesh Chamber of Commerce & Industry).

To shed light on the potential of agriculture and agribusiness between Bangladesh and Brazil Dr. Ansery said, Brazil is a significant exporter of raw materials, agricultural machineries and agricultural products to Bangladesh. The export size from Brazil to Bangladesh over US$2. Billion in every year. This product includes commodities such as, soybeans, corn, sugar, coffee, cotton, Machinery and equipment, including agricultural machinery and agricultural products like poultry, beef, fruits (oranges and mangoes), and processed food products. As the egg & Chicken meat production are expected to grow almost double by 2030 in Bangladesh there is a high potentiality to expediate the current import facility of Maize and Soya meal from Brazil to support the poultry sector.

The agriculture and agribusiness sectors offer significant business potential between Bangladesh and Brazil. Here are some areas of collaboration and business opportunities in this sector:

Crop Diversification: Bangladesh has traditionally focused on rice production, while Brazil is known for its diverse range of agricultural products. Brazil’s expertise in crop diversification can be shared with Bangladesh to explore the cultivation and production in Bangladesh. This can help enhance food security, increase agricultural exports, and expand value-added processing in Bangladesh.

Technology Transfer: Brazil has made significant advancements in agricultural technology and practices, including precision farming, irrigation systems, and pest management. Sharing these technologies and best practices with us can help improve productivity, reduce post-harvest losses, and enhance agricultural efficiency.

Seed Development and Exchanges: Brazil has developed high-yielding and disease-resistant crop varieties, while Bangladesh has expertise in seed production. Exchanging germplasm, conducting joint research and development programs, and establishing seed production facilities can contribute to improved crop yields and quality.

Livestock and Poultry: Brazil has a strong livestock sector, especially in cattle and poultry production. Collaboration in livestock management, breeding, genetics can help improve livestock productivity and poultry sector in Bangladesh. This can include technology transfers, breeding programs, and knowledge sharing in animal nutrition and health management.

Agribusiness Value Chains: Brazil has a well-developed agribusiness sector. Collaboration in agribusiness value chains can involve joint ventures, technology transfers, and knowledge sharing to establish food processing and value-added industries in Bangladesh. This can add value to agricultural products, increase product diversification for meeting local demand as well as export market and help to generate employment opportunities.

What are the way forward for the expanding Agriculture and Agribusiness business potential between Bangladesh and Brazil?

To expand the agriculture and agribusiness business potential between Bangladesh and Brazil, several strategies can be pursued. Here are some key ways forward:

Bilateral Agreements: The governments of Bangladesh and Brazil can foster collaboration by signing bilateral agreements and memoranda of understanding (MoUs) specifically focused on agriculture and agribusiness. These agreements will provide a framework for cooperation and promote trade and investment in the sector.

Knowledge and Technology Exchange: Establishing mechanisms for knowledge and technology exchange between agricultural research institutions, universities, and industry stakeholders in both countries is crucial. This can involve organizing training programs, and study visits to share best practices, research findings, and advancements in agricultural technologies.

Business Delegations and Trade Fairs: Organizing business delegations and participating in trade fairs and exhibitions will facilitate networking and business matchmaking opportunities for stakeholders in the agriculture and agribusiness sectors.

Investment and Joint Ventures: Encouraging investment and facilitating joint ventures between agricultural companies, agribusiness enterprises, and avail Tax, VAT & other facilities which is lucrative for investment in Agri processing industry in Bangladesh for domestic and export market.

Capacity Building: Enhancing the capacity and skills of farmers, agricultural extension workers, and agribusiness professionals is a must for the sector’s growth joint workshops. skill development initiatives should be organized to improve knowledge in areas such as modern farming practices, post-harvest management, agribusiness management, and market access.

Market Access and Trade Facilitation: Addressing trade barriers, enhancing market access is essential between Bangladesh and Brazil. Governments may collaborate to simplify customs procedures, reduce tariffs, and harmonize sanitary and phytosanitary measures to facilitate smooth trade flows and increase market opportunities for agricultural products.

Research and Development Collaboration: Encouraging collaborative research and development projects between agricultural research institutions, universities, and private sector entities in both countries will lead to innovations, technology advancements, and tailored solutions for specific agricultural challenges. Funding mechanisms and joint research initiatives can be established to support such collaborations.

Sustainable Agriculture and Environmental Practices: Addressing the environmental challenges related to agriculture, such as soil erosion, water management, and climate change impacts. Collaboration on organic farming, conservation agriculture, circular agriculture and water management techniques, will promote environmentally friendly and resilient farming systems in both countries.

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