Companies across all sectors looking to enhance trade relations
The Arab Brazilian Chamber of Commerce has recently noted thriving trade between Brazil and the Arab World as attested to by the impressive numbers issued by the organization covering Brazilian exports to Arab countries during the first half of 2016. These positive numbers reflect the great strides that companies across various sectors are making towards strengthening communications between the two countries.
According to the Chamber’s statistics, Arab countries had a USD 5,242.71 billion from January to June 2016. Saudi Arabia accounted for the most shares at 23.71 per cent at a value of USD 1,242.91 billion, followed by the United Arab Emirates at 17.36 per cent, Egypt at 16.65 per cent, Qatar at 2.33 per cent, and Kuwait at 2.08 per cent.
Among the exports, meat posted the most shares during the period at 34.88 per cent, accounting for USD 1,828.40 billion of exports to the Arab World. Sugar took second place at 26.62 per cent with USD 1,395.47, billion followed by cereals at 6.52 per cent with USD 341.64 million; ores, slag and ash at 4.63 per cent with USD 242.73 million, inorganic chemicals and rare earth metals at 6.61 per cent with USD 189 million, and miscellaneous grain seeds and fruits at 3.03 per cent with USD 158.94 million. Of all goods, cereals marked the most growth over 2015, at an increase of 113.94 per cent followed, by sugars which registered a growth of 10.09 per cent.
“We are very optimistic about the state of trade between Brazil and the Arab World. We believe these numbers reflect the strong relations both economies have with each other and we hope it will serve as further encouragement for businesses to explore the infinite potentials that the business environment has to offer. We look forward to many more fruitful exchanges in the future that will benefit our respective economies and the community at large,” concluded Dr. Michel Alaby, Secretary General and CEO, Arab-Brazilian Chamber of Commerce ABCC.