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Adex, Brazilian delegation explore ways to enhance trade cooperation

As of 2020, trade between the UAE and Brazil amounted to $2.7 billion, with agribusiness products making up 60 per cent of Brazil’s total exports to the UAE, while most of Brazil’s imports being chemicals and Sulphur from the UAE.

Mohammed Saif Al Suwaidi, director-general of Abu Dhabi Fund for Development (ADFD), and chairman of the Exports Executive Committee of Abu Dhabi Exports Office (Adex), welcomed a delegation from Brazil led by Flávio Augusto Viana Rocha, Special Secretary for Strategic Affairs of the Presidency of the Brazilian Republic. Along with Khalil Al Mansoori, acting director-general of ADEX, and officials from both sides attended the meeting that took place during the eighth edition of the World Government Summit 2022 (WGS2022), held at Expo 2020 Dubai.

As of 2020, trade between the UAE and Brazil amounted to $2.7 billion, with agribusiness products making up 60 per cent of Brazil’s total exports to the UAE, while most of Brazil’s imports being chemicals and Sulphur from the UAE.

Al Suwaidi emphasised ADFD’s and ADEX’s keenness to strengthen their economic relations with Brazil, pointing out that the UAE is one of the main trading partners of Brazil in the Middle East.

“Meeting between the two sides provide new opportunities for future cooperation and promote an increase in trade volume, given the strong integration of the UAE and Brazilian economies in the trade and investment sectors,” he said.

Rocha highlighted that the UAE is a strategic partner of Brazil and a regional centre for trade in the Mena, noting that Brazil aims to expand economic and investment cooperation with the UAE through the Brazilian Trade and Investment Promotion Agency (Apex), which has an office in the UAE, and considers the region as a crucial logistic, trade, and economic portal for Brazil to access the MENA markets.

Al Mansoori explained how Adex works to support the national economy and boost UAE exports in the global market. He also identified the Brazilian market as one of the strategic markets in Latin America for UAE exports, and we aim to increase Brazil’s share of the country’s total trade in the future.

Al Mansoori added: “Adex provides an array of financial solutions to enhance the UAE exports. ADEX offers ‘Buyers Credit Facilities’ to overseas buyers of Emirati products and services, paving the way for the UAE companies to find new markets for their products while reducing potential payment risk.

— business@khaleejtimes.com