Hala Al-Khayyat (Brazilia)
Through its pavilion at Expo 2020 Dubai, the State of Brazil is focusing on attracting Emirati, Gulf and Arab investments in the sectors of renewable energy, food and beverages, infrastructure, oil and gas, private equity and investment capital, and advanced industries.
Augusto Pestana, President of the Brazilian Trade and Investment Agency “APEX-Brasil”, which is responsible for managing the Brazilian pavilion at “Expo 2020 Dubai”, stressed that Brazil’s participation in the “Expo Dubai” with a huge pavilion that presents all investment opportunities in Brazil stems from the faith and conviction of officials in Brazil. The importance of the “Dubai Expo” as a window to Brazil and the most important and prominent event at this stage, as it will allow businessmen, executives and investors to discover why Brazil is one of the top 10 investment destinations around the world.
Through its participation in the “Expo Dubai”, “APEX-Brazil” is organizing the Investment Forum in Brazil in its version for the Emirate of Dubai, which begins its work today, and the forum is one of the largest Brazilian investment forums abroad, where more than 500 delegates from Brazil and the United Arab Emirates are expected to attend. The forum will also be attended by 300 CEOs and decision makers from large companies in Brazil from more than 16 economic sectors, seeking new partnerships and business in the UAE and the Middle East, and aims to attract investments worth 10 billion dollars to Brazil. During a meeting with representatives of Emirati newspapers in Brasilia, the capital of Brazil, last week, Pestana stated that the forum will present more than 100 investment opportunities in the sectors of renewable energy, oil and gas, real estate, infrastructure, water, agriculture and food, private property rights and tourism in Brazil.
-
Augusto Pestana
connection point
Pestana said: “The UAE has achieved tangible development in the field of air and sea transport, which has made it a point of contact for all countries of the world and links the countries of Latin America with the countries of the Middle East and East Asia.”
He said: The visit of Brazilian President Jair Messias Bolsonaro to the UAE, his participation in the Dubai Airshow and his visit to the Brazil pavilion at (Expo 2020 Dubai), confirm the importance of the UAE and as a land of opportunities and the importance of its central location to reach the Middle East, South Asia, Europe and even to Africa, and the capital Abu Dhabi. The Emirate of Dubai has become one of the global reference points for exhibitions of all kinds.”
foreign investment
Pestana indicated that foreign investment contributed to an increase in the direct investment index in Brazil by $22.5 billion from January to May this year, 30% higher than it was in the same period last year. Pestana stressed that Brazil has all the potentials that establish a stable and secure investment, including infrastructure, technological and scientific capacity, and qualified professionals, in addition to multiple investment options in the agricultural sector, energy and renewable energy generation. He pointed out that Brazil is ranked eleventh among the largest recipients of foreign direct investment in the world, according to the United Nations Conference on Trade and Development, which confirms the availability of all factors for the success and sustainability of any foreign investment in it.
sustainable energy
Pestana explained that benefiting from the renewable energy sector is one of Apex-Brasil’s priorities in attracting investments, especially that Brazil has 45% of renewable energy sources, as it is one of the world’s largest producers of wind energy, hydroelectric power, in addition to solar energy. It also leads the world in the field of preserving tropical forests, and is one of the largest food exporting markets in the world, with its products reaching more than 200 global markets.
He pointed out that the trade and investment relations between Brazil and the United Arab Emirates and the Gulf Cooperation Council countries are of global economic importance, and Brazil provides many opportunities for new business.
The UAE is the second largest buyer of Brazilian products in the Middle East, and the most important UAE exports to Brazil are oil, urea and sulfur, aircraft spare parts, while the most important products the UAE imports from Brazil are chicken and beef meat, gold and sugar.
The UAE is among the largest international investors in Brazil, with Emirati investments in Brazil estimated at $5 billion. Mubadala is the largest Emirati investor in Brazil, DP World, Emirates Airlines, First Abu Dhabi Bank, Yahsat, and Chamber of Commerce. Dubai Commerce and Industry.
There are more than 30 Brazilian companies with offices in the UAE, using it as a platform for their exports in the region. The Brazilian meatpacking company BRF has a factory in Abu Dhabi.
The growth of business relations
Pestana reported that from January to last September, there was a 64 percent growth in trade relations between Brazil and the GCC between 2020 and 2021. In percentage terms, there was an increase of 46% in exports and 107% in Brazilian imports from the GCC.
In 2020, Brazil’s trade with the Gulf Cooperation Council countries contributed to the Brazilian economy with $8.8 billion, making it the fifth largest trading partner of Brazil.
He pointed out that the UAE and Saudi Arabia are the main destinations for Brazilian exports and the origin of imports. However, there is still plenty of room for growth in this relationship, generating additional inflows to Brazil of about $16 billion, according to forecasts by Apex Brazil experts. Regarding the most important sectors that constitute an important hub in the field of trade between Brazil and the UAE, Wittenberg explained that they are represented in defense and security equipment, investments in agricultural businesses and infrastructure related to the agricultural sector. Brazilian products to other markets, especially the Brazilian nuts of cashews, macadamia nuts and walnuts, as the UAE’s imports of these products have grown in recent years at a rate of 40%.
The UAE is a target market for export promotion initiatives
Maria Luisa Wittenberg, Director of the Business Team at Apex Brasil, indicated that Brazil is the largest destination for Emirati products in Latin America and the Caribbean, with exports amounting to $595 million in 2019, two-thirds of these exports are from oil, 6% are fertilizers and 6 % for gaseous substances.
She indicated that the most prominent Brazilian exports to the UAE are poultry, semi-finished gold, raw sugar, beef, other precious metals and stones, cellulose, tobacco leaves, petroleum products, and spices. The imports from the UAE to Brazil are represented in other petroleum products, metal products, fertilizers, unwrought aluminum, aluminum ingots, plastic products, waste, scrap and recycling materials, medical and dental equipment, non-ferrous metal products.
Wittenberg confirmed that the UAE is the sixth preferred market by Brazilian companies and trade associations, and the UAE has been selected as a target market for export promotion initiatives for 16 Brazilian companies and business entities.
.
