Cairo — Celebrating one year since opening its regional office in Cairo, the Arab Brazilian Chamber of Commerce (ABCC) held an event attended by Arab and Brazilian authorities in late September in the Egyptian capital city. The celebration was a moment for leaders of the private and public sector to commemorate the progresses in Brazil-Egypt relations in recent years and the contribution of the ABCC to furthering this relationship.
The ceremony was attended by the ambassador of Brazil to Cairo, Antonio Patriota, Union of Arab Chambers secretary-general Khaled Hanafy, assistant Foreign minister for American affairs Hazem Fahmy, deputy assistant Foreign minister for Latin American affairs Ashraf Munir, assistant Planning minister Hazem Khairat, and Federation of Egyptians Chambers of Commerce secretary-general Alaa Ezz.
ABCC president Osmar Chohfi participated remotely. The event was also attended by several Egyptian businesspeople and journalists, as well as the ABCC office staff in Cairo like director and head Michael Gamal, International Relations director Rania Mohamed Hagrass, reporter Omar Assi, and sales executives Waleed Khoshala, Rafik Nabil and Amgad Rizk.
A year of positive impact
Antonio Patriota said that, in a short period of time, the ABCC office in Cairo proved its worth and effectiveness by playing a relevant role in bringing Brazilian and Egyptian businesspeople closer together. He said that, during its first year of business, the office welcomed important visitors from Brazil like Agriculture, Livestock and Supply minister Marcos Montes and Strategic Affairs special secretary Flávio Rocha, both of whom established partnerships aimed at ensuring food security.
Patriota said that the relation between Brazil and the Arab country offers great investment opportunities, particularly in industry, commerce, tourism and agriculture. He stressed that besides being a major producer of foodstuffs like beef, poultry and sugar, Brazil stands out in the industrial sector, too. According to him, Brazil is the world’s third largest aircraft manufacturer, the world’s sixth largest vehicle manufacture, and one of the world’s most advanced countries in medical devices and supplies.
As for tourism, the ambassador said he believes there’re opportunities for cooperation in religious tourism. Although Brazil’s territory is larger than Egypt, the number of tourists that visit Brazil every year is only half of those who visit Egypt, Patriota said. He said that the launch of a nonstop flight service between Cairo and São Paulo would have a positive impact in various economic aspects for both sides.
New logistics center in Egypt and Brazil
Union of Arab Chambers secretary-general Khaled Hanafi said that the ABCC is conducting a study for establishing logistics centers in Brazil and Cairo aimed at adding value to the goods of both countries, and these centers are expected to operate as hubs, thus facilitating the entry of goods in their respective continents. Such study, which is expected to be concluded soon, is being conducted by the ABCC office in Cairo under the coordination of the headquarters in São Paulo.
He added that the institution is also working to establish a sea lane connecting Brazil and Egypt. A study being conducted proposes the connection between the Brazilian port of Santos and an Egyptian port like the Port Said, Alexandria Port or Damietta Port. The study is expected to be concluded within the next few months.
Investments in medical supplies
During the event, the head of the ABCC office in Cairo, Michael Gamal, announced a mission organized by the Brazilian Medical Devices Manufacturers Association (ABIMO) to Egypt that will take place from October 16 to 20, 2022.
He said he began negotiations with the General Authority for Suez Canal Economic Zone and General Investment Authority, proposing visits and meetings to be held during the mission to create investment opportunities and industrial and commercial partnerships with Egypt, given that Brazil has recently seen a huge breakthrough in the sector.
Gamal explained that the delegation is not only searching for business in Egypt but also investment opportunities, thus aiming to get a better understanding of the current investment environment in the country. Furthermore, meetings will be held with some factories in search for industrial partnerships as the Brazilian companies that will be part of the delegation are largely evolved in medical, dental and breathing devices.
He said that the Egypt-Mercosur free trade agreement signed in 2017 has contributed to raise Egyptian exports to Brazil from USD 155 million in 2017 to USD 542 million last year, with emphasis on agricultural goods. The agreement is helping to boost the export of new products such as dates, garlic, nuts, and glass and glassworks.
According to Gamal, the strategy adopted by the ABCC aims to boost the Egyptian exports to Brazil in the next few years, thus creating space for new products in the Brazilian market and conducting more mutual missions. He reaffirmed the commitment of the office in facilitating the entry of goods from both countries in other nations of their respective continents, thus turning Brazil and Egypt into gateways for this project.
Translated by Moein Alaia and Guilherme Miranda
