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Bangladesh and Brazil signed the 'Basic Agreement on Technical Cooperation (TCA)' following the bilateral meeting between foreign minister Dr Hasan Mahmoud and his visiting Brazilian counterpart Mauro Vieira.
In the meeting the Brazilian FM welcomed Bangladesh's proposal of concluding a MERCOSUR-Bangladesh Preferential Trade Agreement (PTA).
Both the ministers felt that this endeavor would enhance business opportunities and foster private sector engagements between Bangladesh, Brazil, and the other MERCOSUR State Parties, significantly contributing to the promotion of South-South Cooperation.
The Ministers agreed to work toward the commencement of the process for negotiating a MERCOSUR-Bangladesh Preferential Trade Agreement (PTA), at the earliest opportunity, officials said.
The meeting dealt with a number of issues including PTA, trade and investment, BRICS, climate change and current global affairs, a briefing was told following the meeting.
Addressing the briefing the Brazilian FM said after assuming power last year, the new Brazilian government, led by President Lula, renewed interest in strengthening ties with Bangladesh.
"Our governments goals are to reduce inequalities to fight hunger and poverty and to promote the sustainable development of our societies over the past decades and under the leadership of Prime Minister Sheikh Hasina Bangladesh has shown significant social and economic opportunities" he said.
He said in the meeting with the foreign minister and the state minister for commerce on Sunday both sides had the opportunity to explore the potential for more global collaboration in many areas such as agriculture, education, defense, exports and trade.
Mr Vieira said, "In this 52 years of diplomatic relations, it has been possible for our countries to view the relationship based on shared values of peace, friendship and cooperation".
At the same time, we need to work to facilitate trade and investment increased connectivity and diversifying the leads to more trade products.
Responding to a question he said Brazil is very positive about Bangladesh's intention to join the BRICS.
A joint statement issued after the meeting said the two ministers held productive discussions on Bangladesh-Brazil bilateral relations, international and regional initiatives, and multilateral cooperation. They agreed on the importance of increasing cooperation and exchanges in the fields of agriculture, livestock, science, technology and innovation, education, climate change and energy transition, and technical cooperation, among others.
The Ministers took note of the immense potential of business, trade promotion, and investment opportunities between Bangladesh and Brazil, and welcomed the rapid growth in trade between the two countries, which surpassed 2 billion dollars in the past two years, the joint statement said.
"The Ministers warmly welcomed the conclusion of negotiations of the MoU on Sports Cooperation, to be signed at an appropriate moment by the Bangladeshi Ministry of Youth and Sports and the Brazilian Ministry of Sports. The MoU represents a significant milestone that mirrors the enduring bond between our peoples, which has been cherished for generations".
"The Foreign Ministers reaffirmed the shared commitment of Bangladesh and Brazil to multilateralism and expressed their intent to work together towards attaining meaningful results in the UN Summit of the Future in September 2024".
The Ministers stressed the need for meaningful reform of the Global Governance, including the UN Security Council and the international financial architecture that should rely on equitable representation of developing countries in order to effectively respond to the multi-dimensional challenges faced by the world. They called for an urgent reform of the UN Security Council with its expansion in both categories of members.
"The Bangladesh Foreign Minister welcomed Brazil's aspiration in assuming a Permanent Member status at the UN Security Council and acknowledged its increasing role in international peace and security" said the statement.
The two Foreign Ministers agreed that Bangladesh and Brazil would continue to work together to tackle climate change, biodiversity loss, and environmental pollution.
The Ministers also noted the benefits of promoting the enhanced use of sustainable biodiversity-based activities and products, including natural fibers such as jute, sisal, and coconut.
"Bangladesh congratulated Brazil for being elected to host UNFCCC COP30 in Belêm, Pari, in 2025 and assured of Bangladesh's constructive engagement towards a successful outcome".
In the meeting the Bangladesh Foreign Minister recalled the growing interest of countries from the Global South to join BRICS, including Bangladesh. The Brazilian Foreign Minister affirmed that Bangladesh, as an emerging voice of the Global South, could offer substantial contributions to BRICS on a number of issues.
Mr. Mauro Vieira will pay a courtesy call on Prime Minister Sheikh Hasina on Monday.
On the same day, he will also deliver a lecture at the Foreign Service Academy of Bangladesh on "2024 G20: Priorities for Brazilian Presidency" and will address a business meeting jointly organised by the Federation of Chambers of Commerce and Industries of Bangladesh (FBCCI), the Ministry of Foreign Affairs of Bangladesh and the Ministry of Foreign Affairs of Brazil.
Meanwhile UNB report adds: Prime Minister Sheikh Hasina is likely to visit Brazil in July at the invitation of Brazilian President Luiz Inacio Lula da Silva.
"We have discussed the possible visit of our Prime Minister to Brazil. There is an invitation by President Lula. There might be a visit by the Prime Minister to Brazil next July," Foreign Minister Hasan Mahmud told reporters at State guesthouse Jamuna at a joint briefing after his bilateral meeting with his Brazilian counterpart.