Brazil seeks investment in Egypt

Daily News Egypt
3 Min Read

CAIRO: Representatives from the Brazilian Export and Investment Promotion Agency (Apex-Brazil) and the Arab-Brazilian Chamber of Commerce (CCAB) arrived Monday to strengthen business relations between Brazil and Egypt.

The three-day visit to Egypt is part of a larger trade mission of Brazilian experts to North Africa, which included stops in Morocco and Tunisia.

President of CCAB Saof Antonio Sarkis Jr. told The Daily Star Egypt that, Our main objective is to increase the flow of goods between Brazil and the countries of North Africa.

Other Brazilian businessmen participating in the trade mission stated they were capable of meeting the local demand.

In 2006 the three countries participating in the trade mission imported a total of $1.9 billion from Brazil, accounting for 28 percent of the $6.8 billion Brazilian exports to Arab countries. More than $1.3 billion dollars of the trade to North Africa was destined for Egypt. Arab states make up the fourth largest destination for Brazilian products.

“Brazil has much to offer the Egyptian businessmen of today, Sarkis Jr. added.

The delegation from Apex-Brazil and the CCAB was accompanied by 16 firms representing a variety of sectors of Brazilian industry. Brazilian companies presented advertised products such as foodstuffs, cosmetics, agricultural machines and equipment as well as cosmetics.

“We also want to join the opportunities existing in Brazil with the most productive sectors in Egypt and the North African region, said Juarez Leal, coordinator of the international event unit at Apex-Brasil.

Founded in Sao Paolo in 1952, CCAB is a nonprofit organization whose main objective is to develop the commercial relationship between Brazil and the Arab countries.

Today and tomorrow represents a new moment for trade relations, not only between Brazil and Egypt, but also between Brazil and North Africa, said Leal.

Apex-Brasil is an autonomous agency of the government of Brazil. Working alongside the Ministry of Development, Industry and Foreign Trade, Apex is tasked with the goal of boosting Brazilian exports. Currently 60 countries around the world are holding Apex events which usually attract sales of over $12 billion.

Certainly, it is a new beginning towards a successful partnership. I am sure we’re building an important part of our history together, Leal added.

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