Dubai, Feb 20th, 2012 (WAM) -- Major companies in the UAE have signed deals with their Brazilian counterparts during the recently concluded "Brazilian Trade Mission to Middle East 2012".
The Brazilian Trade and Investment Promotion Agency (Apex-Brasil) announced that the Mission that concluded recently in Riyadh, Doha and Dubai, recorded USD 65.3 million in deals either closed during the event or to be consummated within the next 12 months, involving Brazilian companies and their counterparts in the UAE, Saudi Arabia, Oman, Bahrain, Qatar, Kuwait, Jordan and Lebanon. The UAE in particular made significant gains, with the signing of key business deals that will see USD 29.8 million worth of Brazilian exports to the UAE over the next 12 months. The business meetings in Riyadh and Doha meanwhile generated business worth USD 16.5 million for the Brazilian companies. In total the trade mission featured 503 matchmaking meetings involving 232 buyers from the Middle East and Levant regions. Apex-Brasil also revealed that it has signed Memoranda of Understanding (MoU) with JAFZA, Dubai Media City, Dubai Export Development Corporation, and Dubai Foreign Direct Investment. Mauricio Borges, President of Apex-Brasil, signed the agreements with Ibrahim Al Janahi, Deputy CEO and Chief Commercial Officer of JAFZA; Mohammad Abdullah, Managing Director of Dubai Media City; Saed Al Awadi, CEO of Dubai Export Development Corporation; and Fahad Al Gergawi, CEO of Dubai Foreign Direct Investment. The MoU with JAFZA aims to facilitate and enhance the presence of Brazilian companies in the UAE by establishing their offices and production houses in JAFZA. Apex-Brasil, itself, established its offices at JAFZA back in 2009. The partnership with Dubai Media City will enable Brazilian companies to establish an office in Dubai at low costs, helping create an incubator for Brazilian companies from the services sector. Apex-Brasil and Dubai Export Development Corporation, on the other hand, have agreed to exchange information and improve cooperation in the field of export. The MoU with Dubai Foreign Direct Investment will enhance mutual collaboration and seeks to jointly promote events that benefit both countries. Mauricio Borges, President of Apex-Brasil said: "These landmark agreements strongly demonstrate the dynamic relationship between Brazil and the region, particularly in the area of trade and investment. Moreover, it underlines the eagerness of key institutions from both sides to explore new avenues for economic cooperation and mutual growth, which is the main objective of the Brazilian Trade Mission to Middle East". Apex-Brasil led a delegation of 47 Brazilian companies to the UAE at the two-day conference to discuss trade and investment opportunities with their counterparts from the Middle East. The event also hosted a seminar titled "Invest In Brazil", where 15 Brazilian private companies and governmental institutions presented projects in the infrastructure (ports, railroads, energy) and real estate (retail, hotels, logistics) sectors before an audience of potential co-investors and partners from the Middle East. Organized by Apex-Brasil, the trade mission gathered Brazilian companies from the food, beverages and agribusiness; machinery and equipment; and house and civil construction industries to engage in business roundtables with potential local buyers from the UAE and across the GCC.Copyright Emirates News Agency (WAM) 2012.
