Dubai – São Paulo government announced on Thursday (28) during a business mission to the United Arab Emirates the signing of three new memorandums of understanding between Invest São Paulo and the Arab country’s Dubai Commodities Centre (DMCC), World Logistic Passport (WLP) and financial center Abu Dhabi Global Market to attract investments and bolster exports from the Brazilian state. The agreement with DMCC was signed in Brazil pavilion at Expo; the MoU with WLP was penned in DP World pavilion at the exhibition; and the latter took place in the emirate of Abu Dhabi. All signings featured governor João Doria (pictured).
The MoU with WLP was signed by Mahmood Al Bastaki, COO of Dubai Trade (DT) World and general manager of WLP, and Gustavo Junqueira, president of Invest São Paulo. The document establishes that Invest São Paulo will contribute to removing barriers and identifying opportunities to encourage a faster flow of business opportunities for local traders, thus driving cost and time efficiency. The logistics passport is a benefits program for exporting companies, thus smothing trade and cutting the red tape for the purpose of improving competitiveness and cutting costs.
“Trade ties between Brazil and the world’s largest economics have always remained strong. We’re pleased with our collaboration with Invest São Paulo and confident that it’ll help us bridge gaps and engage the right interested parties to seek out fruitful long-term partnerships,” Al Bastaki said.
Besides Invest São Paulo, the logistics passport has agreements with Viracopos International Office, DP World Santos port terminal, Azul airline, and Santos Port Authority, which have joined the Arab initiative for the purpose of increasing trade opportunities between the emerging markets and unlocking access to markets in the Middle East, Asia, and Africa.
WLP is part of DP World group, which has operations in the state of São Paulo and expressed interest in projects like the concession of São Sebastião Port and the implementation of the Intercity São Paulo-Campinas train, which are to be announced between late 2021 and the third quarter of 2022.
Other agreements
DMCC is an agency affiliated with the government of Dubai focused on providing physical and financial infrastructure to imports of commodities in the East. Deemed as the world’s largest commodity hub, DMCC penned a MoU to facilitate exports from São Paulo of coffee, sugar, orange juice, and other goods.
Abu Dhabi Global Market is an international financial center and free zone in the capital of the UAE. The agreement provides for activities to promote markets and financial services in Brazil and direct support for São Paulo-based companies.
Invest São Paulo is São Paulo Investment and Competitiveness Promotion Agency. The mission to Dubai also resulted in 12 private agreements between São Paulo-based companies and Arab representatives, with an estimated BRL 1.1 billion (USD 197 million) in new investments in the state.
São Paulo Expo Week ends on Sunday (31) in Brazil pavilion at Expo. On Thursday’s (29) night, it hosted concerts by Fabianna Cozza and Wilson Simoninha, as well as an orchestra and dancers from the state, amounting to 150 participations of artists during the São Paulo week in the pavilion. Each week, Brazil pavilion is renewed and hosts activities for different parts of Brazil.
Translated by Guilherme Miranda
