Bangladesh is seeking preferential duty access in the Brazilian markets for garments manufactured with Brazilian cotton.
Bangladesh is among the top buyers of Brazilian cotton and would like to leverage this position in the same way that Bangladesh made apparels have received preferential access to the US market when using US grown cotton.
By seeking preferential access, the Bangladesh apparel sector will also be able to increase the quantum of garment exports to Brazil
This move is also expected to make stronger trade relations with South America’s biggest consumer markets and also create new opportunities for Bangladeshi made clothing.
The initiative also will help the South Asian country to diversify beyond its traditional markets and thereby expand its worldwide trade.
Image courtesy: Hyosung
