BRASÍLIA: The Arab-Brazilian Chamber of Commerce (ABCC) announced the participation of a number of notable Brazilian companies in this year’s Brazilian Festival, which is being held in Cairo from 6-9 September. The ABCC plays an active role in facilitating the participation of these companies in an effort to promote the top-quality products that Brazil has to offer and help its local companies establish new ties and expand their network.
In an interview with Daily News Egypt, CEO and secretary general of the ABCC, Michel Alaby, said that the festival is a wonderful avenue for companies to explore opportunities in Egypt and hopefully establish mutually beneficial ties within the country, which has so much to offer in terms of new and innovative business partnerships.
Brazil’s exports to Egypt reached $2.05bn in 2015, while imports registered $108.2m that year. Admittedly, we saw a decline in imports and exports compared to 2014, but trade remains robust between the two countries.
Brazil mainly exports meat, cereals, sugar, seeds, and iron ore. The country purchases fertilisers, organic chemicals, cotton, textiles, and plastics from Egypt. Trade opportunities between both states are bright, especially in the fertiliser sector—Egypt is a leading producer of fertilisers, while Brazil is a major importer. We also expect to see more vibrant international trade relations once the Egypt-Mercosur Free Trade Agreement takes effect. This game-changing agreement is still awaiting passage in the Argentinean Congress.
