Bangladesh can buy ethanol, much cheaper than oil, from Brazil: Ambassador

Bangladesh could import Brazilian ethanol as a renewable fuel source to reduce dependence on fossil fuels and promote environmental sustainability, said Brazilian ambassador to Bangladesh Paulo Fernando Dias Feres.

He made the suggestion at ‘DCAB Talk’ organized by the Diplomatic Correspondents Association, Bangladesh (DCAB) at the National Press Club on Thursday (April 25).

The ambassador said, “India buys a lot of ethanol from Brazil. The world economy has become volatile due to the ongoing Russia-Ukraine war and Israel-Gaza war just after the Covid pandemic. Fuel oil prices are increasing. So, using ethanol as an alternative to oil will be cheaper.”

The ambassador observed that the relationship between Bangladesh and Brazil is getting stronger in the midst of various crises in the world.

Commenting that there is a huge potential for increasing bilateral trade between Bangladesh and Brazil, the ambassador said, “Bangladesh has huge potential in exporting cattle and meat to Brazil. Prime Minister Sheikh Hasina is scheduled to visit Brazil in June. If she goes to Brazil, the agreements that were not possible during the visit of our foreign minister may be signed. Currently, many Bangladeshis live in Brazil.”

The Brazilian ambassador also said, “There is a huge demand for Bangladeshi-made clothes in the Brazilian market. Brazil is likely to be a major market for Bangladeshi RMG products.”

Feres said there is a huge scope for strengthening bilateral cooperation between the two countries, especially in trade and technology.

He emphasized on increasing people-to-people and business-to-business contacts between the two countries.

Diplomatic Correspondents Association, Bangladesh (DCAB) President Nurul Islam Hasib and General Secretary Ashikur Rahman Apu also spoke at the event.