São Paulo – The Arab Brazilian Chamber of Commerce is going to promote a seminar at the premises of the Brazilian Association of Auto Parts Manufacturers (Sindipeças) on Thursday (8th) at 10:00 am. The event will be held at the organization’s headquarters, in the city of São Paulo, and aims to encourage Brazilian auto parts industry businessmen to join a trade mission to Egypt, scheduled to take place in May. The secretary general of the Arab Brazilian Chamber, Michel Alaby, is going to coordinate the meeting together with the executive manager of Sindipeças, William Mufarej.
“We want to call the attention of businessmen in the industry to investment possibilities in Egypt,” claims Alaby. In all, 30 participants were invited to the seminar. The trade mission, in turn, should take 15 entrepreneurs to Cairo. “The Egyptian government has investor incentive programmes, such as income and import tax exemption, and financing of up to 70% of the amount invested,” he explains.
In the country of the pyramids, Brazilian businessmen will be able to speak to representatives of the General Authority for Investment (Gafi) and will get to know the country’s industrial park for auto manufacturing, comprising approximately 15 companies. Among them is the Brazilian Marcopolo. “Furthermore, the GM and Volkswagen factories assemble vehicles there using parts made in Brazil,” says Alaby. During the mission, a presentation will also be given by the commercial consul to the Embassy of the Arab Republic of Egypt in the city of São Paulo, Mahmoud Mazhar.
According to the Sindipeças, the Brazilian auto parts sector had revenues of US$ 37.7 billion in 2009, having received investment of US$ 510 million over the year. Exports total US$ 6.6 billion and the main buyers were Argentina, the United States, Germany, Mexico and Venezuela.
The Arab countries do not appear among the twenty main trade partners, a scenery that should start changing due to activities like the Thursday seminar.
*Translated by Gabriel Pomerancblum and Mark Ament
