- Agreement paves way for technical cooperation between both sides
- Signing takes place after ABCC-organized seminar in São Paulo
The Arab-Brazilian Chamber of Commerce recently signed a Memorandum of Understanding (MoU) with Abu Dhabi Ports, paving the way for more robust technical cooperation, port promotion, and joint business-related events and activities.
The signing took place after the conclusion of a seminar organized by ABCC in São Paulo. The seminar – which came following the state visit of Brazilian President Jair Bolsonaro to the UAE in October this year – showcased the growing business opportunities in both São Paulo, Brazil’s vibrant financial center, and Khalifa Port, Abu Dhabi Ports’ flagship, deep-water port.
Around 70 executives of various companies operating at the Khalifa Port, which boasts a handling capacity of 2.5 million twenty-foot equivalent units, attended the seminar to shed light on the growth prospects available at Khalifa Port Free Trade Zone and Khalifa Industrial Zone of Abu Dhabi (KIZAD). The speakers, who represented food, coffee, cosmetics, mining, construction, trading, and foreign trade consultancy companies, among others, also featured their services and product offerings during the event.
Rubens Hannun, President, ABCC, said: “The MoU is an opportunity as well for both parties to explore, promote, and boost substantial inbound and outbound investment prospects. By collaborating, we are opening up new channels for Brazilian firms to enter and flourish in the steadily rising Abu Dhabi market. KIZAD, for instance, is a strategic, cost-efficient area with tremendous growth scale, enabling Brazilian businesses to further expand not only in Abu Dhabi and the UAE markets but also in different parts of the region and the world.”
KIZAD supports diverse business activities in the UAE, which is considered an export hub that buys and resells many products to other countries. The Emirates is Brazil’s third largest buyer among the Arab countries.
The ABCC was established to facilitate the growth and diversification of trade partnership between Brazil and Arab nations, especially the UAE, Brazil’s third largest business and investment partner, Egypt, and Saudi Arabia.
The recently signed MoU reflects the ABCC’s mission to build stronger and more vivid economic, social, and cultural ties between Brazil and Arab countries; expand their partnerships; and create trade and investment opportunities in various sectors, including but not limited to agriculture, medical technology, beauty, mining, construction, trading, and foreign trade consultancy.
