More companies exporting to Brazil in the coming years
Dubai Exports, an agency of the Dubai Department of Economic Development (DED), Government of Dubai, having recently completed a successful trade mission to Sao Paolo and Rio De Janiero in Brazil, is expecting more UAE companies to increase trade and their presence in Brazil through the close cooperation forged during the mission.
The Mission is expected to see growth of the UAE’s exports to Brazil in the coming years particularly in the sectors of finance, construction, and retail.
In partnership with Arab Brazilian Chamber of Commerce (ABCC), and Apex Brasil, more than 15 UAE companies participated in the trade mission. This second business mission aimed to further encourage trade partnerships between the private companies in the Emirates and Brazil.
Average annual (non-oil) export growth, over the last four years to Brazil, despite the economic crisis was evaluated at 166%, with the total (non-oil) exports in 2010 of nearly AED 365 million (USD 100 million). Among the top products being exported by the UAE to Brazil are machinery and parts; plastics & plastics articles; aluminium and its articles; iron & steel & products thereof; building materials, and perfumes among others.
“The Brazilian economy is poised for further growth in the coming years. In the medium-term, both private and public consumption is expected to grow fast. The FIFA World Cup and the Olympics will offer excellent opportunities for exporters and investors in Brazil over the next few years,” said Engineer Saed Al Awadi, Chief Executive Officer, Dubai Exports.
“Organising such trade mission ensures that our members are made aware of various business opportunities in outside the UAE. Missions and exhibitions, being few of the key export promotion tools we provide to our members, the trade mission allowed them to gain the suitable trade knowledge in expanding their presence in the Brazilian market,” Al Awadi added.
Mr. Sidnet Costa, UAE General Manager for APEX Brazil quoted figures provided by the Ministry of Development, Industry and Foreign Trade of Brazil: “The volume of UAE’s exports to Brazil increased 62% from 2009 to 2010 and that generated an increase of 182% in the value of the exports. These numbers prove the effectiveness of the initiatives of Dubai Exports to consolidate new markets for the UAE products.”
During the Sao Paolo trade mission, the UAE delegates also met with Sao Paulo Mayor, Gilberto Kassab and Salim Schahin, The Arab Brazilian Chamber of Commerce President. The team also met with different local and government organisations such as the Investe-Sao Paulo, the State Agency for Investment Development in Sao Paulo; Sao Paulo State Industries Federation, and the Nossa Caixa Desenvolvimento, an institution created to finance investments in Sao Paulo.
Other activities included company and market site visits, B2B and high level meetings with local government agencies in Brazil. The ABCC led by its CEO Dr. Michel Alaby, discussed some of the main facts and highlights of trading in Brazil while Dr. Luiz Fraxino from Conselvan, Fraxino & Associates Law Firm, a leading firm in Brazil, strongly specialised in public procurement area, tackled the legal aspects of Brazil on Investment and Trade.
ABCC CEO Dr. Alaby stressed that: “This mission opens more possibilities for trade and investment between Brazil and UAE, through Dubai’s Free Zones and logistical solutions that reach some 1.5 billion potential customers around the Arabian Gulf and surrounding nations, like Pakistan, Iran, Afghanistan, China, India, and Iraq.”
Meanwhile, in Rio de Janeiro, the team met with the Pedro Spadale, Undersecretary of International Relations, Government of Rio De Janeiro; representatives of the Federation of Industries of Rio de Janeiro (FIRJAN); Rio Negócios City Hall; Trade Federation of Rio de Janeiro (FECOMERCIO), and the Brazilian Development Bank (BNDES). All the government, semi-government and private agencies in Brazil that were met during the mission provided excellent information and cooperation and all looked forward to a closer and sustained cooperation with the UAE’s businesses to further economic ties between the two countries.