São Paulo – The president of the Arab Brazilian Chamber of Commerce (ABCC), Osmar Chohfi, and the secretary-general of the organization, Tamer Mansour, met through videoconference with the president of the Oman Chamber of Commerce and Industry (OCCI), Redha Al Saleh (pictured above) this Wednesday (30). Representatives from the partner chambers spoke about business opportunities to expand the trade agenda between countries, investment possibilities in many sectors, planned exchanges between business missions, and participation in events, such as Expo 2020 in Dubai.
“The Oman Chamber would like to exchange experiences and points of view to strengthen the commercial exchange between the two countries. There are many opportunities to be seized, our commercial trade has modest numbers, and we have the possibility of increasing it,” said Al Saleh.
According to Al Saleh, the sultanate has an economic development project aimed at some sectors of the economy, mainly the transformation industry. He stressed that the government of Oman has opened the doors to foreign investment and that there is no longer a need to have a local partner.
Over the past five years, Brazilian exports to Oman have grown 11% a year, on average. In 2020, Brazil shipped over USD 700 million to Oman in products such as iron ore and pipes, poultry, beef, corn, and defense items. Brazil imports few products from Oman, including fertilizers, aluminum, oil, and sardines. “This is one of our challenges, to increase the agenda by introducing new products,” said ambassador Osmar Chohfi.
The president of the ABCC mentioned that exports have been growing, and large Brazilian companies, such as BRF (animal protein) and Vale (ores), have strong ties with the Arab country. “Vale has been present in Oman since 2007, with an iron ore processing plant, an investment over USD 2 billion. We want to expand this exchange, both in the context of trade flows and investments,” said Chohfi. He also mentioned the importance of events and business missions to bring countries closer together in the post-pandemic.
To Al Saleh, trade relations between Brazil and Oman are modest and could be expanded by business people from both countries. He declared being proud of the presence of Brazilian companies such as Vale in the country and stated that he expects a visit from Brazilian businesspeople in 2022.
The OCCI president emphasized other facilitations for foreign investors, such as a five to ten-year residence permit, depending on the size of the investment in the country. “We are making it easier for investors to stay in the sultanate, and the government still offers several incentives in our industrial areas,” said Al Saleh, adding that Oman is strategically located and can serve as a logistical hub for Africa and Europe.
“We signed the agreement with the ABCC in 2013, and it is still valid, but we would like to strengthen ties with meetings and conferences. Now, with the office in Dubai, we can meet every three months and further strengthen our relations,” said Al Saleh.
The Institutional Relations manager at the ABCC, Fernanda Baltazar, who also participated in the meeting, told ANBA that it indicates the resumption of relations, after signing the agreement, and the formation of a working group to build an agenda for 2021 and 2022, as well as an action plan between countries.
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The secretary-general of the ABCC, Tamer Mansour, said that it would be possible to strive for Brazilian companies to establish themselves in the free trade zones and gave as an example the pharmaceutical, cosmetics and food sectors. He also mentioned the recent signing of a cooperation agreement between the Sohar Free Trade Zone in Oman, and the Pecém Complex, in the state of Ceará, Brazil. Mansour also talked about the creation of the ABCC Lab, the ABCC’s innovation hub, and stated that Brazilian service sector startups might have space in Oman. Another innovation by the organization presented by the secretary was the Ellos Blockchain electronic platform, which will have as one of its functions to modernize and streamline the export and import process between Brazil and the Arab countries.
Read more:
- Ellos Blockchain aims to revolutionize business with Arabs
- Arab Brazilian Chamber advances in ABCC Lab development
The CEO of the OCCI, Alfadhal Al Hinai, spoke about the advertising of Oman as a tourist destination for Brazilians; with its idyllic beaches and favorable climate; and highlighted that there are many investment and business opportunities in the tourism sector, both in the hotel infrastructure and in adventure tourism facilities and services. “Brazil has over 200 million inhabitants, and Oman could be an exciting destination for Brazilians,” he said.
The ABCC’s regional advisor for the countries of the Gulf Cooperation Council (GCC), Iraq, and Yemen, Shaheen Ali Shaheen, spoke about creating a working group between the countries to form a business committee.
At the ABCC, the meeting was attended by the New Business director, Daniella Leite; Marketing & Content director, Silvana Gomes; and head of international office in Dubai, Rafael Solimeo. From the OCCI, the director of International Relations, Haritha Al Busaidi, and Shaika Al Alawi, from the same department, participated.
Translated by Elúsio Brasileiro