São Paulo – The São Paulo Investment Promotion Agency (Investe São Paulo) and the Jebel Ali Free Zone (Jafza), in Dubai, the United Arab Emirates, have entered into a partnership that will allow small and medium businesses in São Paulo to use office space at the free zone with a 35% discount to show and trade their goods and services with countries in the region.
The agreement was signed this Wednesday (9) during the Global Business Forum on Latin America, held by the Dubai Chamber of Commerce and Industry and running until Thursday (10) in the emirate.
The deal’s goal is to facilitate goods and services exports from São Paulo to countries in the Middle East, North Africa and Asia. The space made available at Jafza will be a shop window-of-sorts for potential consumers in the region – Jafza is one of the world’s busiest free zones – and in addition to the discount, eventual exhibitors will be offered security, local support and advice from business intelligence experts.
The deal was signed by the CEO of DP World – the company that manages Jafza –, Sultan Ahmed Bin Sulayem, and by Investe São Paulo president Juan Quirós. “Our country’s old dream of having an export platform in the Middle East is now coming true under the guidance of [São Paulo state] governor Geraldo Alckmin, who encourages the placement of São Paulo businesses on the international market. Companies and Investe São Paulo partners will get access to that platform,” Quirós told the São Paulo investment agency website.
According to Bin Sulayem, trade between Jafza and Brazil amounted to USD 764 million last year and is expected to grow over the next few years. Quirós stressed that the state of São Paulo is Latin America’s fourth biggest economy, with a market of 44 million consumers, and that two-way trade with countries in the region will increase.
“Important doors will be opened in the Gulf Cooperation Council (GCC) countries, in South Asia and in Africa. We will work on mutual actions to encourage investment and exports,” the Investe São Paulo president said. The GCC is composed of Saudi Arabia, Bahrain, Qatar, the United Arab Emirates, Kuwait and Oman.
Forum
On the first day of the Global Business Forum on Latin America, speakers included former Mexican president Vicente Fox, Uruguayan vice president Raúl Fernando Sendic, former Peruvian Tourism minister Jose Silva Martinot, UAE minister of Economy Sultan Saeed Nasser Al Mansoori, etc.
“It has been a very positive day. Discussions covered several investment opportunities in Latin America, a region that has proved to be key to the United Arab Emirates,” said Tamer Mansour, the Government Relations manager at the Arab Brazilian Chamber of Commerce, who is attending the event. “Sulayem, the CEO of DP World, said Brazil remains an attractive investment target, its economic scenario notwithstanding.”
Thursday (10), the event’s second and final day, will see addresses by Quirós of Investe São Paulo and Mohamed El Zoghbi, president of the Federation of Muslim Associations in Brazil (Fambras).
*Translated by Gabriel Pomerancblum
