Doha – Qatar wants Brazilian companies to participate in infrastructure works in the country. The topic was discussed on Thursday (2), in Doha, at meetings between representatives of the public and private sector in the country and the minister of Development, Industry and Foreign Trade of Brazil, Miguel Jorge, and Arab Brazilian Chamber of Commerce president Salim Taufic Schahin, who are on a Brazilian trade mission to the Middle East.
According to Schahin, the director of the Qatar Chamber of Commerce, Ali Bin Abdul Latif Al Misnad, said he would like Brazilian companies to participate in projects in the Arab country. Schahin met Misnad in the company of representatives of Brazilian construction companies.
According to Jorge, who met the Business and Trade minister of Qatar, Jassim Bin Abdul Aziz Al Thani, while Brazilian companies may work on constructions in the Arab country, Qatari companies could participate in exploration and production of oil in the pre-salt layer on the Brazilian coast.
"We are speaking much about that, in all countries. About the program for investment in the pre-salt layer," said Jorge to ANBA. "They (the Arabs) are greatly attuned to the oil sector," he added. Jorge is heading the Brazilian delegation that has already visited Syria, Kuwait, is currently in Qatar and should head on to Saudi Arabia and Abu Dhabi, in the United Arab Emirates.
Schahin and Jorge added that the figures of the Brazilian economy and of the pre-salt layer impressed the Arabs they spoke to.
Incentives
At the opening of the roundtables between Brazilian and Qatari businessmen, Jorge pointed out that the government events "contributed much to increase bilateral relations". He pointed out that, despite the great expansion in trade between businessmen from both countries in recent years, business "is still small in the face of the size of our economies".
"We must diversify the trade basket [exports and imports]," said the Brazilian minister. Bilateral trade generated US$ 366 million from January to October this year, growth of almost 100% over the same period in 2009, according to the Foreign Trade Secretariat (Secex), connected to Jorge’s ministry.
"We are open to products from Qatar and are available to boosting our purchases," said Jorge. "And to Brazil, Qatar may be a good option for company internationalisation," he added. He pointed out that direct investment from Brazil abroad should reach US$ 15 billion this year and grow further in 2011.
The minister also pointed out that Brazil offers financing and guarantees to companies in Qatar interested in investing in the country. In the same line, Schahin pointed out that Brazil "is currently on the global radar" and needs "massive investment".
Mohamed Bin Abdul Rahman Al Thani, vice president of the cabinet of the emir of Qatar, who represented the Ministries of Business and Trade in the opening ceremony, said that the Arab country has lived "positive changes" over the last 10 years, "based on diversification of the economy and free trade".
"Qatar is capable of developing long-term economic relations," said Thani. “I believe that it is possible to increase [bilateral] trade more and more," he finished off.
*Translated by Mark Ament