“It is a great pleasure to be able to participate in the Brazil & Arab Countries Economic Forum. Brazil pays special attention to its relationship with the Arab world, which plays an important role in the formation of our society through the many immigrants who arrived in our country. We intend to continue to strengthen our historical, cultural and friendship ties that unite our people. It is also our desire to take advantage of the enormous potential that still remains to be explored in the most diverse sectors and open new fronts of dialogue and work cooperation for the prosperity of our nations”.
The statement was made this Monday (19) by the President of the Republic, Jair Bolsonaro, at the opening of the Brazil & Arab Countries Economic Forum, organized by the Arab-Brazilian Chamber of Commerce, which will be held from October 19 to 22. This year, it will be a special edition in an online format with the participation of several Brazilian authorities and the 22 countries that are part of the Arab League. The theme of the Economic Forum is “The Future is Now” and aims to promote and strengthen commercial and cultural relations between countries, proposing a reflection on how these relations can evolve and strengthen in a sustainable way.
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President Bolsonaro recalled his visit to the United Arab Emirates, Qatar and Saudi Arabia last year and highlighted that it was “unequivocal evidence” of Brazilian interest in strengthening economic-social relations with the Arab League countries. He recalled Saudi Arabia's confidence in investing up to US$10 billion through that country's Public Investment Fund.
He also highlighted the importance of taking advantage of the infrastructure and logistics of Arab countries to diversify and expand access to Brazilian products. He recalled that there are around 30 Brazilian companies that have commercial offices or production units in the Middle East and highlighted that it was “with great joy” that he learned about the opening in Dubai, in February 2019, of the Arab-Brazilian Chamber of Commerce office .
Another relevant point was the significant increase in investments from countries such as the United Arab Emirates, Qatar and Kuwait in the Brazilian market. “I am sure that we will multiply these numbers and we have already taken numerous measures that will allow the resumption of economic and sustainable growth in Brazil after the Covid-19 pandemic”.
He noted that from January to August 2020 meat exports totaled US$4.8 billion and predicted that the country should reach the export value in 2019 of US$4.9 billion. In the same vein, President Bolsonaro stated that Brazilian production of halal food, which respects the tradition and rules of the Muslim religion, is synonymous with quality and trust. “Arab countries can count on Brazil as a strategic partner in guaranteeing their food security and we are ready to open new fronts of dialogue with the aim of establishing regulatory frameworks capable of expanding investments between Brazil and the Arab League.”
The president of the Arab-Brazilian Chamber of Commerce, Rubens Hannun, highlighted in his speech that Brazilians and Arabs maintain a bilateral relationship that is an example for the world. He noted that the Arab League is Brazil's third largest trading partner abroad, the second in agribusiness.
However, said Rubens Hannun, it is still not enough. According to him, efforts need to be increased to increase the flow of capital through new bilateral agreements. For example, non-double taxation agreements and protection of international investments brought into the country.
Along these lines, the Arab Chamber has prepared a series of strategic actions that will be presented at the Economic Forum. Among them, the signing of agreements in the commercial and logistics areas, based on the valorization of already consolidated and consolidating trade hubs in Arab countries, aiming at the creation of direct maritime routes between Brazil and Arab ports.
He also highlighted the importance of adopting new initiatives with the aim of reducing bureaucracy and providing security in the processes of exporting and importing goods. In addition to the food security issue, Brazil should explore new synergies with Arab nations in the areas of energy, technological innovation, environmental preservation and sustainable production, said Hannun.
The secretary general of the Arab League, Ahmed Abou Al Ghait, expressed “great satisfaction” in participating in the Brazil & Arab Countries Economic Forum, as it will be an excellent opportunity to expand commercial and economic relations between the two peoples. According to him, the event will contribute to strengthening “our historical, cultural and economic ties”, becoming an important vector for exploring new forms of cooperation between Arabs and Brazilians.
In the same vein, the Minister of International Relations and Cooperation of the United Arab Emirates (UAE), Ahmed Ali Al Sayegh, stated that, over the last few years, the commercial and investment relationship between the United Arab Emirates and Brazil has evolved. He believes that there is room to further grow bilateral trade between the two markets, highlighting that Brazil must evaluate new business opportunities such as, for example, greater use of Arab ports. He highlighted that other areas have potential, such as technology, innovation and energy.
The opening session of the Economic Forum was closed by the secretary-general of the Union of Arab Chambers, Khaled Hanafy. He said he was “very happy” to participate in this event, which had to be held via a digital platform due to the pandemic.
“Holding the Forum is proof of our ability to face challenges,” said Hanafy, adding that the Union of Arab Chambers represents the private sector of 22 Arab countries and that the entity has been committed to increasing economic relations between the two peoples . He noted that the Arab-Brazilian trade flow is still small and that it is necessary to “open the doors” for both imports and exports to grow.
Source: DATA
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