Cairo – The government of Egypt will draft cooperation proposals with the Arab Brazilian Chamber of Commerce (ABCC) to be signed during the Economic Forum Brazil & Arab Countries, to take place at the Renaissance Hotel, in the capital city of São Paulo, on July 4, held by the entity. The agreement was outlined during a meeting between the Egyptian prime minister, Moustafa Madbouly, with ABCC heads last weekend in Cairo, the capital city of Egypt.
The ABCC invited the prime minister to participate in the event, which takes place every two years and has become a significant meeting point for Arabs and Brazilians. From talks at the meeting in Cairo, Madbouly guided the formation of a working group, including representatives of the Egyptian Council of Ministers and the country’s General Authority for Investments (GAFI), to discuss cooperation proposals with the ABCC for signature during the event in July.
The prime minister received ABCC president, Osmar Chohfi; secretary-general & CEO, Tamer Mansour; and secretary-general of the Union of Arab Chambers (UAC), Khaled Hanafy. In addition to the forum, Brazil-Egypt economic relations were the subject of the meeting. Hanafy told of the recent growth in trade between the two countries. Egypt was the leading destination for Brazilian exports among the Arab countries from January to April this year, progressing from the third position in 2021.
Hanafy said Brazil is ready to be the gateway for Egyptian exports to South America, and the country could invest in Egypt through a Brazilian industrial zone. There, products from sectors in which Brazil stands out, such as automobile parts and textiles, could be manufactured and then sold to the Egyptian market and the rest of the world.
Chohfi stated the participation of an Egyptian delegation at the Economic Forum Brazil & Arab Countries headed by the prime minister could take advantage of the positive results seen in the countries’ bilateral relations since the visit of Brazil’s vice president, Hamilton Mourão, to Egypt, in September last year. Mourão opened the ABCC branch office in Egypt. Chohfi said he hoped trade relations with Egypt would evolve into a multidimensional economic partnership.
Moustafa Madbouly praised the recent developments in Egypt-Brazil relations, mentioning the Egyptian government supports all efforts to strengthen ties with Brazil to the level of an economic partnership, and his country is willing to implement proposals for cooperation in investments with Brazil, in addition to opening a Brazilian industrial zone.
Translated by Elúsio Brasileiro
