ABU DHABI, 21st March, 2017 (WAM) -- The Arab-Brazilian Chamber of Commerce, ABCC, is confident that the vibrant trade relations between the Arab region and Brazil will continue this year as reflected by the considerable growth in Brazils agribusiness exports to the Middle East during the first two months of 2017. According to recently released data by the South American nations Ministry of Agriculture, Livestock and Supply, MAPA, the value of Brazils agribusiness exports to the region stood at US$1.336 billion, an increase of 22.8 percent over the same period last year.
MAPAs report showed that the share held by the region in total foreign sales by the sector climbed to 11.3 percent in January and February of this year from 9.3 percent in the first two months of the previous year, making the Middle East Brazils third largest agribusiness importer for the period behind Asia and the European Union. Dr. Michael Alaby, CEO of ABCC, said, "The Middle Easts increasing demand for agribusiness products thanks in part to its growing population and steady economic rise continues to drive the robust trade ties between Brazil and the region. In the coming years, we will see stronger coordination and cooperation built upon mutual confidence, trust, and common interests in line with our commitment to increase trade and investment flows between the country and its key Arab partners. Mainly, what we do is provide an effective platform for the fastest and safest way for both Brazilian and Arab companies to meet and make their respective business expansion plans a reality. We would like to believe that the new MAPA data concerning Brazils flourishing agribusiness exports to the region is a positive nod to our relentless efforts." Saudi Arabia was named the top Arab buyer of Brazilian agribusiness products, with its transactions reaching US$426.5 million to surpass January and February 2016 figures by almost 30 percent. In February 2017, the value of agribusiness exports stood at $648 million, growing at 3.4 per cent in comparison to the same month of last year. Brazils MAPA attributed the strong performance to the increasing shipments of soy, poultry, beef and raw sugar to the Middle East.Copyright Emirates News Agency (WAM) 2017.
