Brasília – During the meeting of the minister of Trade and Industry of Egypt, Rachid Mohamed Rachid, with the Foreign Minister of Brazil, Celso Amorim, yesterday (12) at Itamaraty Palace, the intention of Brazil and Egypt of taking steps for the implementation of a free trade agreement between the Arab country and the nations in the Mercosur became clear. One of the next steps to be taken should be the creation of the Negotiating Committee forecasted in the framework agreement signed in Argentina, in 2004.
According to Rachid, over the next few weeks, the bloc and the Arab country should start working for the agreement to take pace as soon as possible. Also yesterday, Rachid discussed the matter with the minister of Development, Industry and Foreign Trade, Miguel Jorge, who said he would like the agreement to be completed by the end of this year. This information was disclosed by the secretary general at the Arab Brazilian Chamber of Commerce, Michel Alaby, who participated in the meeting. The main Egyptian sectors that Rachid plans to include in the agreement are the textile, leather and shoe sectors.
Apart from that, ministers Amorim and Rachid, who had a closed-doors meeting, discussed bilateral trade, reciprocal investment and the importance of coordination between both countries in World Trade Organisation (WTO) negotiations, and their engagement regarding continuation of the Doha Rounds.
Amorim and Rachid mentioned the greater trade between Brazil and Egypt, which reached US$ 1.3 billion last year. With the objective of boosting trade relations, they also discussed the promotion of more trade missions between both nations.
With Miguel Jorge, the minister of Egypt also discussed the possibility of a Brazilian trade delegation to the Arab country in the first quarter of 2009. Among the sectors to be included in the delegation are the vehicle, auto parts, textile and agribusiness sectors. The delegation should be organised by the Arab Brazilian Chamber. Rachid also said that the economy of Egypt is currently expanding strongly and the country is a great receptor of foreign investment, mentioning as examples the General Motors investment in the country for the construction of a production unit.
According to Rachid, Brazil and Egypt are already working together in several sectors. "We hope that trade relations may grow further," he said. The minister of Egypt also met with the Brazilian minister of Transport, Alfredo Nascimento. They discussed the need to establish a direct flight between Cairo and São Paulo to further increase bilateral relations.
*Translated by Mark Ament
