$20bn trade ex­change be­tween Arab coun­tries, Brazil last year

Brazil­ian-Arab Eco­nomic Fo­rum dis­cusses cur­rent in­vest­ments, fu­ture op­por­tu­ni­ties be­tween Arab, Brazil­ian en­ter­prises

The Daily News Egypt - - Business - By Ne­hal Samir

Brazil­ian Pres­i­dent Michel Te­mer said that the value of trade ex­change be­tween Brazil and Arab coun­tries reached $20bn last year.

This came dur­ing the Brazil­ian Arab Eco­nomic Fo­rum held re­cently in São Paulo, which sev­eral of­fi­cials, gov­ern­ment rep­re­sen­ta­tives, and pri­vate en­ti­ties, ex­perts, spe­cial­ists, and en­trepreneurs, at­tended.

Con­sid­er­ing the eco­nomic re­la­tions be­tween Brazil and the Arab re­gion, Te­mer said that de­spite the ro­bust trade growth, the two sides must work to­gether to bring it to the next phase of devel­op­ment and open broad ar­eas of in­vest­ment and co­op­er­a­tion.

Te­mer added that the com­ing pe­riod will wit­ness the over­com­ing of all ob­sta­cles that im­pede the progress and pros­per­ity of Brazil’s re­la­tion­ship with the Arab world at var­i­ous lev­els.

For his part, Ibrahim Al-Zabin, am­bas­sador of Pales­tine to Brazil and dean of the Arab Diplo­matic Corps, pointed in his speech to the need for eas­ing the bu­reau­cratic pro­ce­dures that hin­der the en­try of Arab prod­ucts into the Brazil­ian mar­ket.

He also called on Brazil to sup­port the Arab coun­tries that seek to join the Mer­co­sur trade bloc, based on Brazil’s in­flu­en­tial role in de­ci­sion­mak­ing among the mem­ber coun­tries.

Ni­dal Abou Zaki, man­ag­ing di­rec­tor of Ori­ent Planet Group, said dur­ing a panel ses­sion en­ti­tled “So­cial Me­dia, Press, and Tourism in the Arab world” that Arab coun­tries should take se­ri­ous and de­lib­er­ate steps to im­prove their im­age in the minds of for­eign com­mu­ni­ties.

He pointed to the im­por­tance of so­cial me­dia and the press in de­vel­op­ing his­tor­i­cal bi­lat­eral re­la­tions and ac­ti­vat­ing the cul­tural com­mu­ni­ca­tion be­tween the Arab world and Brazil, which re­flects pos­i­tively on the process of man­ag­ing coun­tries’ rep­u­ta­tions, which in turn sup­ports eco­nomic and trade re­la­tions be­tween the two sides.

A se­ries of lec­tures were also held on the side­lines of the fo­rum un­der the theme “Eco­nomic Sce­nar­ios: Brazil and Arab Coun­tries” fol­lowed by panel dis­cus­sions on sev­eral top­ics, such as tech­nol­ogy and in­no­va­tion, food se­cu­rity, and in­creas­ing trade in the ha­lal sec­tor as Arab coun­tries are con­sid­ered one of the big­gest mar­kets for ha­lal prod­ucts.

The par­tic­i­pants in the fo­rum also dis­cussed cur­rent in­vest­ments and fu­ture op­por­tu­ni­ties be­tween Arab and Brazil­ian en­ter­prises.

They also dis­cussed the need to es­tab­lish an Arab-Brazil­ian bank with large cap­i­tal to meet the grow­ing needs of the two sides, for joint ini­tia­tives to de­velop bio­med­i­cal and en­gi­neer­ing in­dus­tries, to de­velop the trans­port sec­tor to en­hance in­ter-re­gional trade, and the need to es­tab­lish mega in­vest­ment projects in heavy in­dus­tries, lo­gis­tics, and re­new­able en­ergy, among oth­ers.

Last De­cem­ber, Egyp­tian Min­is­ter of Trade and In­dus­try Tarek Ka­bil re­vealed that the value of trade ex­change be­tween Egypt and Brazil dur­ing the first nine months of 2017 amounted to about $1.8bn, point­ing out that Egyp­tian ex­ports to the Brazil­ian mar­ket achieved an in­crease of 102% over the same pe­riod in 2016.

The Brazil­ian-Arab Eco­nomic Fo­rum held re­cently in São Paulo

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