São Paulo – Brazil’s National Confederation of Industry (CNI) and the Embassy of the United Arab Emirates in Brasília signed a letter of intention this Monday (5) in São Paulo. The entities vow to “continually champion an agenda of strategic priorities for the two countries with their governments,” CNI Industrial Development director Carlos Eduardo Abijaodi said during the 1st Brazil-United Arab Emirates Business Forum (pictured above), in São Paulo.
The document’s signatory alongside Abijaodi was the UAE ambassador to Brazil, Hafsa Abdulla Mohamed Sharif Al Ulama. “I would like to state that I am very glad to be here. The UAE is one of the most inspiring, dynamic business hubs in the world. With such a diverse population, the country offers business opportunities all around. We also think that Brazil is very important within Latin America. Our relations are based on respect, cooperation and the enhancement of trade relations. We are encountering key points that we agree on, like avoiding double taxation and facilitating investments,” ambassador Al Ulama remarked during the Forum.
The Forum’s first edition was attended by companies like Dubai-based port operator DP World, which controls a terminal in São Paulo’s Port of Santos. “We (Brazil) have lost a lot of capital stock in infrastructure. This is a very serious issue in the country,” DP World Commercial Department chief Fábio Siccherino said. He stressed the need for infrastructure investments and called on the CNI and the UAE to join forces to push for tax breaks on port-related activities, which he believes would positively impact exports and imports in Brazil.
The CNI’s executive manager for Economic Policies, Flávio Pinheiro de Castelo Branco, discussed the post-election scenario and said confidence indexes are strong among business owners and consumers alike. The CNI’s agenda also includes streamlining paperwork requirements in Brazil. Marcelo Guaranys, an official with the Chief of Staff, agreed. “The country must grow in spite of the government. Why do we have so many rules that don’t make sense? If we don’t stop and think, then society will pay the cost,” said Guaranys, hinting that the Brazilian government’s agenda includes pushing on for Labor and Tax reforms.
Translated by Gabriel Pomerancblum
