Arab-Brazilian Chamber of Commerce: We expect 5% growth in Egypt's exports to Brazil in 2021

Published 2021년 7월 5일

Tridge summary

The head of the Arab-Brazilian Chamber of Commerce, Osmar Shehfe, is optimistic about the growth of Egyptian exports to Brazil in 2021 by 5%, reaching a value of $217.72 million, up from $212.2 million in 2020. This growth is attributed to the opportunities for foreign trade and Brazilian investments in Egypt, as well as the upcoming full implementation of the free trade agreement between Egypt and the Mercosur countries, including Brazil. This agreement is expected to reduce production costs and lower product prices in both countries. Trade between Brazil and the Arab countries, including Egypt, is also expected to grow, with a 15% increase in Brazilian exports and a 30% increase in imports in 2021. Egyptian investments in Brazil cover various sectors such as oil and gas, renewable energy, real estate development, agriculture, and logistics infrastructure, while Brazilian investments in Egypt are focused on renewable energy, infrastructure, textiles, agriculture, and construction materials.

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Original content

Dialogue - Mostafa Eid: Osmar Shehfe, head of the Arab-Brazilian Chamber of Commerce, expected that Egyptian exports to Brazil would rise during the current year by 5% compared to 2020, which witnessed the export of Egyptian products worth $212.2 million to Brazil. In an interview with Masrawy, Shahfa said that Egypt provides excellent opportunities for foreign trade and Brazilian investments, whether to supply the Egyptian market or by taking advantage of the structures of free zones and trade agreements that Egypt has concluded with various countries of the world. He added that the full implementation of the free trade agreement between Egypt and the Mercosur countries, including Brazil, will lead to the circulation of many of these raw materials at low prices, which leads to reducing production costs, and thus lowering the final price of products in Egypt and these countries. Shahfa stated that the economic zone of the Suez Canal provides important opportunities for Brazilian ...

Source: EGmasrawy