São Paulo – The minister of Economy of the United Arab Emirates, Sultan bin Saeed Almansoori, has said his country regards Brazil as an important partner for food safety in the Middle East. He also added that he is interested in sponsoring business between Emirati and Brazil in food processing. The statements were given in an exclusive interview to ANBA during the Brazil-United Arab Emirates Economic Forum, held this Friday (1st) in São Paulo.
“There is a demand in the Middle East for many of the products Brazil has to offer. Food is one of them, and food safety is very important to us. We regard Brazil as a key partner to the food safety process we are implementing in our country and region,” he said.
Food is already the leading item in Brazil’s export portfolio to the Emirates. In 2012 alone, food sales to the Arab country exceeded US$ 1.5 billion. Buying foodstuffs, however, is not the Emirates’ sole interest.
“We are seeking Brazil’s future potential for our food processing industry. We could set up a strategic partnership with Brazilian companies, so we can sell not only to the Middle East, but to the rest of the world,” the minister said.
He believes the two countries together possess the necessary elements for a successful cooperation. “Brazil has availability of agricultural products, whereas we have the investment and financing capability. Another key part of our formula is out strong capacity to sell to the world. Put these three elements together and you have a very strong partnership,” he said.
During the seminar, Almansoouri noted that his country boasts the world’s fifth largest oil reserves, but said this is not the most important feature of the Emirates. “What matters to us is how to go about diversifying our economy. Right now, non-oil sectors like trade, logistics, financial services, aviation, tourism, hospitality, small and medium businesses, real estate and construction are the primary drivers of our economy,” he told the attendees.
To Marcelo Sallum, president of the Arab Brazilian Chamber of Commerce, which organized the event alongside the United Arab Emirates embassy in Brasília, apart from bilateral trade, investment must be fostered between the two countries. “We have large infrastructure projects underway, and these require capital. We believe that apart from trade, there are great opportunities for investment,” he said in an interview to ANBA.
He said, however, that there are still barriers to increasing these investments. “Basically, we have a demand for a bilateral investment agreement. Said agreement would entail discussions among the fiscal sectors in both governments, but it could make it easier for investors to operate. The Arab Brazilian Chamber is working in tandem with the Brazilian government to this end, and we believe this could yield huge benefits to both countries,” he said.
At the event, the Arab Brazilian Chamber CEO Michel Alaby said the organization has taken part in more than 15 business missions to the Emirates, and that it is working for yet another agreement which is in the best interest of the Gulf country. “The Arab Brazilian Chamber is working alongside the Brazilian government for a treaty to prevent double taxation,” he said.
The economist Antônio Corrêa de Lacerda gave an overview of the Brazilian economy. He said that in 2012, Brazil was the fourth leading foreign direct investment target in the world, at US$ 65.2 billion. He also said the country has the potential to raise its GDP by 3% to 4% in the next few years.
Carlos Leopoldo, head of the Middle East II division of Brazil’s Ministry of External Relations, said that in November, the country’s vice president Michel Temer will pay a visit to the Emirates. He will tend to issues such as facilitating visa issuance to businessmen and executives in both countries.
The event was also attended by Rodrigo de Azevedo Santos, director of the Commercial Promotion and Investment Department of the Brazilian Foreign Office; Carlos Márcio Bicalho Cozendey, International Affairs secretary to the Ministry of Finance; Sultan Alkaitoob, ambassador of the United Arab Emirates in Brasília; Ângela Martins, regional manager for Latin America at the National Bank of Abu Dhabi; and ambassador Paulo Cordeiro de Andrade Pinto, undersecretary general for politics at the Africa and Middle East Department of the Brazilian Ministry of External Relations.
*Translated by Gabriel Pomerancblum
