S\u00e3o Paulo \u2013 The economist Alaa Eldin Hussien Aly is the new head of the Egyptian commercial office in S\u00e3o Paulo. He is replacing the former consul, Mahmoud Mazhar, who left the position. Aly holds a PhD in Economics and experience gained in Egyptian commercial offices in countries such as Kenya, Romania and Portugal, as well as stints working for the Egyptian Central Bank and different chambers of commerce. His main mission will be promoting exports from the Arab country to Brazil. <\/p>\n
\u201cThe office [in S\u00e3o Paulo] is the arm of the [Egyptian] embassy in charge of fostering economic and commercial relations between the two countries,\u201d the diplomat told ANBA during a visit to the Arab Brazilian Chamber of Commerce<\/b>, where he was welcomed by CEO Michel Alaby and International Relations vice president Helmi Nasr. \u201cThere is a major difference between what Egypt imports from Brazil and what it exports, and we want to reduce that difference,\u201d he said.<\/p>\n
Egypt is one of the leading targets for Brazilian products in the Arab world, but the trade balance traditionally runs a deficit on the North African country\u2019s side. Aly believes that sales of Egyptian vegetables, fruit, medication, medical and hospital equipment, chemicals, textiles and handicract to Brazil can be fostered.<\/p>\n
For such, he intends to invite Egyptian businessmen to visit Brazil and attend trade fairs in the country. \u201cWe need to show what we can do, \u201che said. The diplomat will also get in touch with Brazilian enterprises and sector organizations, and intends to travel to other states as a part of his trade promotion actions.<\/p>\n
Aside from trade, Aly is going to work to boost bilateral cooperation, attract investment to Egypt, and promote tourism. He said that in spite of the popular uprising that overthrew the dictator Hosni Mubarak last February, his country received 6 million tourists in the first half of the year.<\/p>\n
According to him, the revolution has caused the hotel rates, air tickets and real estate prices to drop. The diplomat stated that this is a good time to go to Egypt and to invest in the country. The vice consul, Haythan Abdel-Ghany, added that the revolution and the international economic crisis have caused prices to drop. For years, Egypt had problems controlling inflation.<\/p>\n
The political situation, however, has left bilateral trade unaffected. On the contrary, Brazilian exports to Egypt generated over US$ 2 billion in revenues from January to October, according to figures supplied by the Brazilian Ministry of Development, Industry and Foreign Trade, a 31% increase compared with the same period of 2010. Last month, Egypt was the leading target for Brazilian products in the Arab world, a position traditionally occupied by Saudi Arabia. <\/p>\n
On the other hand, import revenues stood at US$ 274 million thus far in 2011, 86% more than in the same period of last year.<\/p>\n
Aly said that the leading products imported from Brazil by Egypt are foodstuffs, such as beef, poultry and sugar. \u201cThe people must eat,\u201d he said, adding that beef and chicken are staples of Egyptians meals.\u201d<\/p>\n
He said that it is only natural that the Egyptian economy became stagnant as a result of the revolution, but claimed that as of September \u201csome progress\u201d was made, as previously halted foreign investment was resumed.<\/p>\n
*Translated by Gabriel Pomerancblum<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"
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