Delegation of 30 firms to visit Gulf as figures show exports to UAE hit $2.45bn in 2012
Brazilian exports to the UAE are expected to increase by more than 13 percent to $2.45bn in 2012, according to figures from the Brazilian Trade and Investment Promotion Agency (Apex-Brasil).
It said trade activities between the two countries were continuing to expand from the $2.16bn of business reported in 2011.
The figures have been announced ahead of a delegation of 30 Brazilian companies which will be visiting the UAE later this month as part of the fifth Brazilian Trade Mission to the Gulf state.
A business meeting in Jeddah, Saudi Arabia, will also be organised on February 18 as part of the trade mission, which will be attended by companies from key sectors including food and beverage, housing and construction, machinery and equipment and auto parts.
The trade mission, which runs from February 20-21 at the Jumeirah Emirates Towers Hotel in Dubai, is for UAE firms on the first day and for regional hosted buyers from Qatar, Kuwait, Lebanon, Bahrain, Oman, Jordan and Iraq on the second day.
Mauricio Borges, president of Apex-Brasil, said: "The enthusiastic response that we have received from the UAE and Brazilian companies for the upcoming trade mission to the UAE manifests the lucrative prospects that have now emerged in light of the growing trade activities between the two countries."
Tatiana Lacerda Prazeres, secretary of foreign trade of Brazil, added: "The growing trade activities between Brazil and its partners in the Middle East, particularly the UAE, clearly reflects the strong bilateral relations that Brazil has nurtured across the region.
"Trade relations with the UAE has been especially robust as a result of our proactive efforts to create networking platforms that bring together key industry players from both countries to interact and explore mutually beneficial business opportunities."
In October, it was reported that Brazilian food exports to the Arab world reached over $6.6bn in the first eight months of 2012 with Saudi Arabia, Egypt and the UAE emerging as the top markets in the region.
According to a report released by the Arab-Brazilian Chamber of Commerce, Brazilian exports to Saudi Arabia reached over $1.5bn during the period, while exports to the UAE were valued at over $930m.