Bangladesh secures priority access to Argentinian wheat, soybeans
The two countries on Thursday signed a Memorandum of Understanding (MoU) in this regard, marking a significant step towards strengthening agricultural ties.
Argentina has agreed to prioritise Bangladesh's imports of soybeans and wheat from that country.
The two countries on Thursday signed a Memorandum of Understanding (MoU) in this regard, marking a significant step towards strengthening agricultural ties.
The agreement, signed for the first time, also includes advanced cooperation in agricultural technology and management, according to the Ministry of Agriculture.
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Agriculture Minister Muhammad Abdur Razzaque represented Bangladesh, while Argentine Economic Minister Sergio Tomás Massa had previously signed the agreement. In a ceremony attended by Argentine Ambassador to Dhaka Marcelo Carlos CESA, Agriculture Minister Razzaque formalised the agreement.
A press release from the Ministry of Agriculture outlined key areas of collaboration identified in the MoU. These include the implementation of climate-smart technologies, soil management, irrigation practices, post-harvest crop loss prevention, adoption of good agricultural practices (GAP), and the development of marketing and value chains for agricultural products. Notably, the MoU also ensures Bangladesh's priority in soybean and wheat imports from Argentina.
Agriculture Minister Razzaque said, "This MoU has created an opportunity to explore another part of the world. Argentina, being a country rich in natural resources, is highly advanced in agriculture and agricultural technology. This agreement will facilitate importing wheat, soybean, and various animal feeds from Argentina."
Highlighting the importance of soybeans in poultry protein production, Minister Razzaque mentioned that Bangladesh annually imports around $2 billion worth of soybeans. With Argentina being a leading producer of soybeans, the MoU is expected to enable Bangladesh to secure these imports at favourable prices.
The minister also mentioned potential export opportunities for Bangladesh, including mangoes, pineapples, potatoes, and chips to Argentina The agreement calls for the processing and export of a variety of agricultural products to Argentina. Moreover, assistance will be sought from Argentina in the fields of biotechnology and nanotechnology.
Argentine Ambassador Marcelo Carlos CESA said, "There are many opportunities for cooperation between the two countries in the field of agriculture. The MoU has further increased the opportunity to work in those areas."
