Brazil strengthens cotton trade ties with Bangladesh

Brazil's Foreign Ministry and the Cotton Growers Association (Abrapa) joined forces to ramp up cotton trade with Bangladesh. This mission was aimed at solidifying the already strong partnership between the two countries, which saw $2.3 billion in total trade in 2023.

Leading the delegation was Brazil's Foreign Minister, Ambassador Mauro Vieira. They visited BEXIMCO and Square, two major Bangladeshi textile mills and key importers of Brazilian cotton. Abrapa's director, Marcelo Duarte, emphasized the importance of strengthening this partnership through official channels.

Bangladesh's booming textile industry makes it a prime market for Brazilian cotton. With the world's largest apparel industry (after China) and a GDP growth rate averaging six per cent in 2022, Bangladesh is a major cotton consumer. In 2022-23, it was the world's top cotton importer (1.48 million tons) and Brazil's second-largest buyer (242,300 tons).

Brazil is a cotton powerhouse, ranking third in production and second in exports globally. For the 2023-24 season, Brazil is expected to export a whopping 2.57 million tons of cotton. This mission strengthens ties and paves the way for even more Brazilian cotton reaching the thriving Bangladeshi textile industry.