(MENAFN- Brazilian-Arab News Agency (ANBA))
São Paulo – The Arab-Brazilian Chamber of Commerce (ABCC) on Wednesday (29) signed two memoranda of understanding in Egypt with the country’s Ministry of Commerce and Industry and the Federation of Egyptian Chambers of Commerce for the creation of an ABCC representative office in Cairo aimed at promoting trade and economic cooperation between Egypt, Brazil and neighboring countries.
The first agreement was signed by Egyptian Minister of Trade and Industry Nevin Gamea and ABCC President Osmar Chohfi in the presence of Brazilian Vice President Hamilton Mourão, Brazilian Ambassador to Cairo Antonio Patriota, from Secretary General of the Union of Arab Chambers Khaled Hanafy and of the Federation of Egyptian Chambers. President of Commerce Ibrahim Al-Arabi. In the photo above, Chohfi and Gamea sign an agreement.
Chohfi and Al-Arabi sign agreement
The second memorandum of understanding was signed between Al-Arabi and the president of the ABCC to accommodate the representative office of the Brazilian institution within the Federation of Egyptian Chambers of Commerce in Cairo.
The Minister of Trade and Industry said the five-year agreement between the ministry and ABCC comes at a time when the ministry is working to create a good framework for cooperation between businessmen from both countries, given the importance of cooperation between the private sectors of Egypt and Brazil.
She pointed out that the Egyptian government and private sector, represented by the Federation of Egyptian Chambers of Commerce, welcome the opening of a regional office of ABCC in Cairo, which should help to serve the common interests of men. Egyptian and Brazilian affairs, supporting trade cooperation and streamlining the flow of goods and services between the two countries.
The minister explained that the agreement stems from free trade agreements signed between Egypt and the Mercosur countries – which include Brazil, Argentina, Uruguay and Paraguay – in force since 2017.
Gamea said the ABCC office in Cairo will play a major role in the development of Egypt-Brazil trade and will be a springboard for Egypt-Brazil cooperation to engage other African countries, making Brazil benefit from free agreements. -exchange that Egypt has with them.
Office
Osmar Chohfi said the services offered by the office include discussions with Egyptian counterparts in ABCC and Egyptian government agencies and businessmen to establish trade and investment communication channels between the two countries.
Memoranda were signed during the launch ceremony
He added that these services include the holding of trade and economic missions to and from Brazil, as well as the preparation and organization of all trade activities related to these visits and missions.
They also include the provision of services to companies financed by Brazil by negotiating dialogue between them and Egyptian government agencies and businessmen in order to strengthen trade and investment relations between these companies and their Egyptian counterparts, said the president of the ABCC.
Chohfi said the services of the office would also include promoting the participation of companies in trade and economic events, exhibitions and conferences and communicating with all relevant authorities in this regard at local and regional level. It will also contribute to the preparation, organization and participation in these events by providing services related to trade legal assistance and intellectual property protection.
Federation of Egyptian Chambers
Ibrahim Al-Arabi said that the launch of the activities of the Egyptian-Brazilian Business Forum in the presence of officials and business leaders from both countries is a living example of the public-private partnership sought by Egypt in various fields.
He added that the Arab world imports more than 60% of its food and around 60% of the inputs for the food industry for more than 100 billion dollars per year, with Brazil being a key partner in the supply of these products. . He added that exports could be increased through trilateral cooperation.
Al-Arabi explained that the Arab League and the Arab Academy of Sciences, Technology and Maritime Transport have been working on the establishment of logistics centers in the Mercosur countries and called on the shipowners to boost trade between Egypt. and these countries.
The Federation president added that the value of joint investments between Egypt and Brazil has exceeded US $ 1 billion in cement, buses, trailers, food and logistics, not to mention Egyptian investments in Brazilian farms, slaughterhouses and energy industry.
He pointed out that trade has exceeded $ 2.5 billion between the two countries, and much of it is focused on meeting the production needs of industries that export to free trade zones. He said, however, that this was far from reaching the desired goals or reaching the full potential of the opportunities available. Egypt offers Brazilian investors a solid foundation, secure investments and unique opportunities, Al-Arabi said.
* Omar Assi report
Translated by Guilherme Miranda
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The post Arab agreements of the Brazilian Chamber in Egypt first appeared on Agência de Notícias Brasil-Árabe.
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