02 February 2012
JEDDAH - Brazil's trade with the Arab world soared more than 28 percent in 2011 to reach $25.13 billion and is expected to grow a further 15 percent this year, the Arab Brazilian Chamber of Commerce said Tuesday.
Brazil registered a trade surplus of $5.15 billion with the 22 countries making up the Arab League last year, as its exports totaled $15.13 billion, up 20.3 percent compared with 2010, while its imports reached 9.98 billion, up 43.36 percent.
Salim Taufic Schahin, the chamber's president, said that despite the global economic uncertainty "prospects for 2012 are optimistic and our projection is that we will have an increase of 10 to 15 percent" over the 2011 figure.
He pointed out that as a bloc, the Arab League ranks among the world's 10 top economies.
Major export items last year were sugar with sales worth $4.62 billion, up 19.81 percent; meat products with $3.55 billion in sales, up 9.89 percent; mining products with $2.97 billion, up 34.82 percent; and grains with $1.17 billion, up 96.83 percent.
Saudi Arabia was the top destination for Brazilian exports last year with $3.48 billion, up 12.19 percent over 2010, followed by Egypt, with $2.62 billion, up 33.37 percent, and the UAE with $2.17 billion, up 16.94 percent.
Schahin hailed former Brazilian president Luiz Inacio Lula da Silva for the "extraordinary job" he did in forging closer ties with Arab countries, which has translated into booming trade exchanges.
He said Lula's successor, President Dilma Rousseff, was keen to further boost ties with the Arab world.
Schahin also noted Arab-Brazilians, who number 12 million out of Brazil's total population of 190 million, have a key role to play in expanding the relationship in various sectors, including tourism, health and culture.
The chamber, which this year marks its 60th anniversary, said it was encouraging Brazilian small and medium enterprises to export to Arab world.
Michel Alaby, the chamber's chief executive officer, pointed to the great potential for boosting Brazil's trade ties with the region, particularly exports of farm products, construction equipment and machinery.
Industry and Foreign Trade Minister Fernando Pimentel was due to lead a mission sponsored by ApexBrasil - the country's trade and investment promotion agency - to the United Arab Emirates and Saudi Arabia on Feb.12-16.
Mauricio Borges, president of Apex-Brasil, said the Middle East has always been a lucrative destination for Brazilian products and services, and a major source of investors and investment opportunities for Brazilian entrepreneurs.
"Moreover, with its dynamic economy and strong focus on foreign trade relations, it is clear that the UAE as well as the rest of the GCC will serve as an excellent launch pad to strengthen trade activities between Brazil and the entire Middle East region. Apex-Brasil has therefore organized 'Invest Brazil' to create a dedicated networking avenue for corporate organizations, investors, government institutions and trade organizations from Brazil and the GCC to explore new opportunities for economic cooperation."
"Moreover, Brazil has been teeming with investment possibilities in the field of infrastructure and real estate development. UAE and GCC investors can therefore take advantage of the favorable investment climate in Brazil to further diversify their investment portfolio and boost their revenue potential. 'Invest Brazil' will bring together representatives from governmental institutions and leading private companies in Brazil to provide a more detailed and insightful presentation of the new investment possibilities that have emerged in Brazil," added Borges.
Apex-Brasil aims to promote exports of Brazilian products and services, contribute to the internationalization of Brazilian companies and attract foreign investment to Brazil.
In supporting more than 13,000 Brazilian companies that collectively export to more than 200 markets, Apex-Brasil organises trade events such as Invest Brazil as well as trade missions and business roundtables, and supports the participation of Brazilian companies in major international exhibitions and visits of foreign buyers and opinion makers.
JEDDAH - Brazil's trade with the Arab world soared more than 28 percent in 2011 to reach $25.13 billion and is expected to grow a further 15 percent this year, the Arab Brazilian Chamber of Commerce said Tuesday.
Brazil registered a trade surplus of $5.15 billion with the 22 countries making up the Arab League last year, as its exports totaled $15.13 billion, up 20.3 percent compared with 2010, while its imports reached 9.98 billion, up 43.36 percent.
Salim Taufic Schahin, the chamber's president, said that despite the global economic uncertainty "prospects for 2012 are optimistic and our projection is that we will have an increase of 10 to 15 percent" over the 2011 figure.
He pointed out that as a bloc, the Arab League ranks among the world's 10 top economies.
Major export items last year were sugar with sales worth $4.62 billion, up 19.81 percent; meat products with $3.55 billion in sales, up 9.89 percent; mining products with $2.97 billion, up 34.82 percent; and grains with $1.17 billion, up 96.83 percent.
Saudi Arabia was the top destination for Brazilian exports last year with $3.48 billion, up 12.19 percent over 2010, followed by Egypt, with $2.62 billion, up 33.37 percent, and the UAE with $2.17 billion, up 16.94 percent.
Schahin hailed former Brazilian president Luiz Inacio Lula da Silva for the "extraordinary job" he did in forging closer ties with Arab countries, which has translated into booming trade exchanges.
He said Lula's successor, President Dilma Rousseff, was keen to further boost ties with the Arab world.
Schahin also noted Arab-Brazilians, who number 12 million out of Brazil's total population of 190 million, have a key role to play in expanding the relationship in various sectors, including tourism, health and culture.
The chamber, which this year marks its 60th anniversary, said it was encouraging Brazilian small and medium enterprises to export to Arab world.
Michel Alaby, the chamber's chief executive officer, pointed to the great potential for boosting Brazil's trade ties with the region, particularly exports of farm products, construction equipment and machinery.
Industry and Foreign Trade Minister Fernando Pimentel was due to lead a mission sponsored by ApexBrasil - the country's trade and investment promotion agency - to the United Arab Emirates and Saudi Arabia on Feb.12-16.
Mauricio Borges, president of Apex-Brasil, said the Middle East has always been a lucrative destination for Brazilian products and services, and a major source of investors and investment opportunities for Brazilian entrepreneurs.
"Moreover, with its dynamic economy and strong focus on foreign trade relations, it is clear that the UAE as well as the rest of the GCC will serve as an excellent launch pad to strengthen trade activities between Brazil and the entire Middle East region. Apex-Brasil has therefore organized 'Invest Brazil' to create a dedicated networking avenue for corporate organizations, investors, government institutions and trade organizations from Brazil and the GCC to explore new opportunities for economic cooperation."
"Moreover, Brazil has been teeming with investment possibilities in the field of infrastructure and real estate development. UAE and GCC investors can therefore take advantage of the favorable investment climate in Brazil to further diversify their investment portfolio and boost their revenue potential. 'Invest Brazil' will bring together representatives from governmental institutions and leading private companies in Brazil to provide a more detailed and insightful presentation of the new investment possibilities that have emerged in Brazil," added Borges.
Apex-Brasil aims to promote exports of Brazilian products and services, contribute to the internationalization of Brazilian companies and attract foreign investment to Brazil.
In supporting more than 13,000 Brazilian companies that collectively export to more than 200 markets, Apex-Brasil organises trade events such as Invest Brazil as well as trade missions and business roundtables, and supports the participation of Brazilian companies in major international exhibitions and visits of foreign buyers and opinion makers.
© The Saudi Gazette 2012
