Adex and the Brazilian delegation explore ways to strengthen business cooperation – News

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In 2020, trade between the UAE and Brazil amounted to $2.7 billion, with agri-food products accounting for 60% of Brazil’s total exports to the UAE, while most of Brazil’s imports were chemicals and sulfur from the United Arab Emirates.



Published: Wed, March 30, 2022, 5:50 PM

Last update: Wed 30 Mar 2022, 5:53 PM

Mohammed Saif Al Suwaidi, Managing Director of the Abu Dhabi Fund for Development (ADFD) and Chairman of the Export Executive Committee of the Abu Dhabi Export Office (Adex), welcomed a delegation from Brazil led by Flávio Augusto Viana Rocha, Special Secretary for Business Strategy of the Presidency of the Brazilian Republic. Along with Khalil Al Mansoori, Acting Director General of ADEX, and officials from both parties attended the meeting which took place during the eighth edition of the World Government Summit 2022 (WGS2022), which took place held at Expo 2020 Dubai.

In 2020, trade between the UAE and Brazil amounted to $2.7 billion, with agri-food products accounting for 60% of Brazil’s total exports to the UAE, while most of Brazil’s imports were chemicals and sulfur from the United Arab Emirates.

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

“The meeting between the two parties offers new opportunities for future cooperation and promotes an increase in trade volume, given the strong integration of the economies of the United Arab Emirates and Brazil in the trade and investment sectors,” did he declare.

Rocha stressed that the UAE is a strategic partner of Brazil and a regional hub for trade in the Mena region, 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 United Arab Emirates and sees the region as a crucial logistics, trade and economic portal for Brazil to access MENA markets.

Al Mansoori explained how Adex is working to support the national economy and boost UAE exports to 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 in the country’s total trade in the future.

Al Mansoori added: “Adex provides a range of financial solutions to enhance UAE exports. The ADEX offers “buyer credit facilities” to overseas buyers of Emirati products and services, paving the way for UAE companies to find new markets for their products while reducing potential payment risk.

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