“Business Forum” discusses increasing Egyptian exports to Brazilian markets

The Egyptian-Brazilian Business Forum discussed, Organized by the Regional Office of the Arab-Brazilian Chamber of Commerce in Cairo, At the headquarters of the General Federation of Egyptian Chambers of Commerce yesterday evening, Ways to increase Egyptian exports to the Brazilian markets and mechanisms for developing trade exchange between the two countries, in the presence of Marcos Montes, Brazilian Minister of Agriculture, Ibrahim El-Sigini, Assistant Minister for Economic Affairs, on behalf of Nevin Gamea, Minister of Industry and Foreign Trade, and a group of businessmen of the two countries.
Marcos Montes, Minister of Agriculture, Livestock and Supply of Brazil, said: His current visit to Cairo comes to remove all obstacles that may hinder commercial relations between the two countries. Facilitating the movement of trade between the two countries, identifying the challenges facing companies in the two countries, and discussing them with officials to find solutions to them.
He explained that the government in Brazil is working to support opportunities for rapprochement between the two countries. Especially in light of the good relations between Cairo and Sao Paulo.
He added that the joint relations have come a long way on the path of friendship and economic cooperation, especially after the entry into force of the free trade agreement between Egypt and Mercosur in 2017. Pointing to the Brazilian markets importing increasing quantities of citrus fruits, olives and Egyptian grapes, In addition to Egyptian fertilizers and other products.
Ali stressed that Egypt is an important source of fertilizers and Brazil is a consumer of them. Brazil also has a portfolio of high-quality products that the Egyptian market needs. In light of the strong relations between the two countries, trade relations must be strengthened.
For her part, Minister of Industry and Foreign Trade, Nevin Jameh, said, The entry into the free trade agreement between Egypt and the Mercosur in Latin America contributed significantly to the increase in Egyptian exports to Brazil during the last five years.
During her speech at the Egyptian-Brazilian Business Forum, which was delivered on her behalf by Ibrahim El-Sigini, the Minister suggested, Assistant Minister for Economic Affairs, Attracting Brazilian businessmen to invest in the Egyptian agricultural sector, To transfer modern technology and Brazilian expertise to the Egyptian market.
She pointed out that Egypt’s imports of agricultural and manufactured agricultural products from Brazil are estimated at $1.5 billion. While Egypt exports the same products at only $37.4 million, Attracting Brazilian investors into this sector reduces this large gap.
El-Sigini estimated Egypt’s exports to Mercosur last year at about $933 million. While imports amounted to about 4 billion dollars, an increase of 45% over the year 2020.
For his part, Ambassador Antonio Patriota, Ambassador of the State of Brazil to Egypt, said that the visit of the Brazilian Minister of Agriculture, Marcos Montes to Cairo, Strong evidence of the interest of the State of Brazil in consolidating its relations with Egypt in particular, strong evidence of the interest of the State of Brazil in consolidating its relations with Egypt in particular, and Arab countries in general.
He explained that the economic relationship between the two countries is characterized by many aspects of complementarity. Egypt imports food and Brazil imports fertilizers. Our economies depend on each other for food security and income generation, Fertilizers account for more than half of Egypt’s total exports to Brazil. They are essential to our agricultural sector.
He added that Egypt is the first market for Brazilian exports in Africa and the third in the Arab world. Under the terms of the FTA, By 2026, Most of our bilateral trade will be exempt from tariffs.
He continued: Our bilateral trade flow is still focused on a few products, Especially agricultural and low value-added products, though, It is possible to note the gradual diversification of trade, Especially with regard to Egyptian exports, There is scope for deepening and diversifying trade between our two countries.
In the same context, Eng. Ibrahim El-Araby, head of the General Federation of Chambers of Commerce, stressed that the federation is working to facilitate trade between Egypt and all countries of the world in line with the state’s strategy to advance Egyptian exports.
In the speech delivered on his behalf by Mohamed Al-Masry, Vice-President of the Federation of Chambers of Commerce, he said: The Arab Brazilian Chamber of Commerce, Its regional office in Cairo will play a major role in introducing Egyptian investors to the Brazilian market and vice versa, which will contribute to deepening trade between the two countries.
The Egyptian-Brazilian Forum is the first of its kind in the new headquarters of the General Federation of Egyptian Chambers of Commerce. And in coordination between the Arab Brazilian Chamber of Commerce and the General Union.
Tamer Mansour, Secretary-General of the Arab-Brazilian Chamber of Commerce, said that despite the significant growth in the volume of joint trade exchange in recent years, there are still many untapped opportunities. ، Which will contribute to doubling the volume of intra-regional trade and economic integration between the two countries.
He explained that two closed sessions were held on the sidelines of the first forum, which brought together the Brazilian Minister of Agriculture and a delegation of businessmen. With Egyptian fertilizer exporters to discuss opportunities to increase Egypt’s exports of fertilizers to Brazil.
He added that the second session brought together the minister and major Brazilian meat exporters with Egyptian importers to find out the challenges that impede the movement of trade. And work to solve it in the coming period.