Dubai – The CEO at the Arab Brazilian Chamber of Commerce, Michel Alaby, was one of the speakers at the Dubai Export Forum, promoted on Thursday (23) at Atlantis hotel, in the United Arab Emirates. At the event turned to exports from the emirate, Alaby spoke about business opportunities in Brazil, rules for import of products, taxes and services offered by the Chamber to Arab businessmen.
He pointed out growth of bilateral trade, mentioned a series of sectors where there are opportunities, among them those created by the 2014 World Cup and the 2016 Olympics, to be promoted in Brazil, and invited businessmen from Dubai to become Chamber associates.
Dubai Export, the emirates export promotion agency, which organized the event, promoted a trade delegation to Brazil in June this year and plans to promote another in 2012. The CEO at the organisation, Saed Al Awadi, said to ANBA that Dubai is competitive in exporting items like gold and diamond products, aluminium, processed food, electrical material and steel.
He pointed out that the list is not taxing and that other sectors may be explored. The executive pointed out that the emirate may also export services connected to the financial, aviation, engineering and building sectors. Prior to travelling to Brazil the sectors that provide the greatest chance for business will be analysed.
The industrial consultant at Dubai Exports, Faisal Mohammad El Amir, said, in an interview, that the program for export fostering in the Emirate has two parts. The first is mainly for promotion, turned to industries that are already strong, like foods, plastics, chemical products and aluminium.
The second, apart from promotion, includes actions to expand company competitiveness. In this situation are the sectors of furniture, steel and ceramics, among others.
In the case of Brazil, Amir said that market niches may be explored, like the electric material sector. He also pointed out the service area.
In his presentation, Awadi said that exports from Dubai generated 45 billion dirham (US$ 12.2 billion at current exchange rates) in the first half of this year, growth of 36% over the same period in 2010.
Reexports, that is, products that simply cross the emirate, but are turned to other markets, totalled over 86 billion dirham (US$ 23.4 billion), against 69 billion (US$ 18.7 billion) in the first six months of last year.
In the case of the existing free zones in Dubai, exports totalled 5 billion dirham (US$ 1.3 billion) in the first half of 2011 and reexports from these areas generated 81 billion dirham (US$ 22 billion).
Local imports, in turn, reached 214 billion dirham in the first half (US$ 58 billion), growth of 21% over January to June 2010, according to the executive.
At the seminar, the director general of the Ministry of Finance of the Emirates, Ali Al Fayed, spoke about the free trade area of the Arab countries and the director of the Negotiation Department at the Ministry of Foreign Trade, Sultan Bin Darwish, presented a panorama of the trade agreements with other countries of the bloc, including free trade talks between the Gulf Cooperation Council (GCC) and the Mercosur. The GCC includes Saudi Arabia, Bahrain, Qatar, the Emirates, Kuwait and Oman. "In future, inshallah (god willing, in Arabic), we may close the agreement with the GCC,” said Michel Alaby, from the Arab Brazilian Chamber.
Representatives of Emirates SkyCargo, the cargo division of the airline of Dubai, SGS Gulf Limited, of certification, and of the Export Credit Insurance Company of the Emirates, regarding export finance, also spoke. Around 250 people participated in the forum, according to the organisation.
*Translated by Mark Ament
