BRASÍLIA: The Arab-Brazilian Chamber of Commerce (ABCC) has revealed that Brazilian imports from the Arab World amounted to a total of $2.6 billion during the first half of 2016. The positive statistics reflect the strong trade relations between the countries which serves as further encouragement for more bilateral exploration of potential business ties in the near future, said a statement from ABCC. Out of all the Arab countries, Oman registered the most growth in Brazil in first half of 2016 at 37.40 per cent while the UAE followed at 5.04 per cent increase over the same period in 2015, it said.
Saudi Arabia led with the highest percentage and amount exported at 24.68 per cent totalling $658 million, Qatar second at 14.25 per cent with $379 million, followed by the UAE at 9.40 per cent with 250.63 million, Kuwait at 6.72 per cent totalling $179.30 million; Oman at 2.14 per cent reaching $56.95 million, and Egypt with 0.71 per cent at $18.88 million, it added.
The majority of the Arab World’s imports are still composed of oil and mineral fuel which makes up 67 per cent of the total amount at $1.8 billion. This is followed by fertilisers at 21.88 per cent with $583 million; organic chemicals at 1.59 per cent amounting to $42.14 million; plastic at 1.51 per cent reaching $40.14 million; and salt, sulphur, earth and stone at 1.50 per reaching $40.01 million, said a statement. Fertilisers registered the highest growth in the first half of 2016 at 31.26 per cent followed by organic chemicals which recorded a 5.78 per cent increase, it said.
Dr Michel Alaby, secretary general and CEO of ABCC, said: “These numbers reflect the thriving economic ties between Brazil and the Arab World.” “We look forward to further strengthening our partnerships and examining other potential areas of collaboration that will prove to be mutually beneficial in the future. We believe there are a lot of wonderful possibilities on the horizon and we can create an environment that will foster transparency and growth for all parties,” he added.
