Dubai Exports, the export promotion agency of the Department of Economic Development – Government of Dubai, is advancing its efforts to boost local exports and trade relations with various organisations and institutions in South America, particularly in the countries of Brazil and Peru.
Following on from its trade missions to high-growth markets in South America in 2010 and 2011, Dubai Exports led a delegation of six UAE companies to Brazil and Peru between May 30 and June 2 this year. The mission aimed to open new markets for local companies and enable them to explore business prospects and partnerships in the two fast-growing economies.
Both Brazil and Peru enjoy dynamic trade relations with the UAE, with exports from the UAE contributing a major share of the exchange. Between 2010 and 2011, UAE’s total exports to Brazil grew 170.71 per cent to reach AED1.7 billion. Electrical items, machinery parts, plastics and fertilizers form the major share of UAE’s current exports to Brazil.
Trade between the UAE and Peru has also grown remarkably in recent years. In 2011, net value of UAE exports to Peru was nearly AED30 million, a growth of 29.62 per cent from the previous year.
“Our highly successful government missions to Argentina, Brazil and Chile over the past two years gave us the privilege of discussing various aspects of closer economic cooperation with South America. Those missions have opened several doors of bilateral investment and trade,” said Engineer Saed Al Awadi, Chief Executive Officer of Dubai Exports.
“Many of our governmental and semi-governmental mission partners are now working closely with South American governments on projects of mutual interest. We at Dubai Exports continue to create an environment that will advance export opportunities for our local companies. Our latest mission to Brazil and Peru will further foster our strong trade relations and will open up new and potential sectors for our economies,” Al Awadi added.
Dubai Exports was able to ensure the participation of Dubai-based companies in various services and goods sectors such cargo, logistics, industrial safety, electronic control systems, construction, and hospitality supplies in the delegation. The delegation had representatives from Emirates airline, Emirates SkyCargo, National Fire Fighting Manufacturing FZCO (NAFFCO), Shelfco Metal Industries, Micro Automation Industries and Diamond Line FZE.
Members of the delegation held a series of B2B meetings and discussions with professional and industry associations, apart from potential buyers and importers, in Brazil and Peru. High level meetings were also conducted with local and federal government entities in the two countries to exchange technical and regulatory information on the intricacies of bilateral trade between UAE and the respective countries.
Dr. Michel Alaby, Chief Executive Officer, Arab Brazilian Chamber of Commerce, said: “I believe that this 3rd successive mission from Dubai Exports (2010 to 2012) shows the importance that Brazil has acquired in the Global Community. The Arab Brazilian Chamber of Commerce is proud to have organized more than 70 meetings between Brazilian Companies and their UAE counterparts which are members of Dubai Exports, as well as high profile meetings between Dubai Exports and its Brazilian counterparts.”
The largest in South America and sixth in the world, Brazil’s economy has undergone a remarkable transition over the last two decades. A strong middle class and sharp focus on reinforcing industrial production, agri-business, technology integration and competitiveness are driving demand for diverse goods and services.
Peru, like Brazil, is also rated one of the fastest growing economies in the world. Abundant natural resources and liberal economic policies are attracting significant interest in the country’s development initiatives.
“The Brazilian Arab Chamber of Commerce (CCAB), the Peruvian Consulate General and its Trade Investment Office in UAE, and our key international partners in South America contributed to the success of the mission. We are also indebted to the UAE embassies in Brazil and Argentina for their full support to the mission and the delegates,” Al Awadi emphasised.