[2007-06-27]  Event to showcase business opportunities with Egypt
São Paulo – The Arab Brazilian Chamber of Commerce will promote, in partnership with the Federation of Industries of the State of Paraná (Fiep), a seminar entitled "Business Opportunities with Egypt," to be held today (26) at the Integrated Centre for Businessmen and Workers in the Industries of the State of Paraná (Cietep). The event counts on support from the Egyptian trade office in São Paulo (SE Brazil).

"We want to promote Egyptian exports to Brazil. I am sure that many Brazilian companies are unaware of what the Egyptian market has to offer. Thus, one of the aims of this seminar is to show business opportunities in the region," claimed the commercial consul of Egypt to São Paulo, Mohamed Bakri Agami.

According to him, the Egyptian industry is diversified, and it may offer Brazil many products, such as cotton, furniture, carpets, chemical and pharmaceutical products, foodstuffs, marble, and granite among others. "In the seminar we will also present the benefits of investing in Egypt. We have wide-ranging trade partnerships with the European Union and Arab countries, therefore it will be easier for Brazilian companies to enter those countries, through partnerships," Bakri said.

The consul will also present an overview of Egypt, and explain each of the main sectors in the country, such as industry, tourism, textiles, agriculture, foodstuffs, automobiles, petrochemicals, real estate, and construction. Last year, the Egyptian Gross Domestic Product (GDP) grew 6.9%.

According to the secretary general at the Arab Brazilian Chamber, Michel Alaby, who will give a presentation during the seminar, the trade balance between the two countries is negative for Egypt. "This seminar is an effort to raise exports from Egypt to Brazil," he said. Last year, the Arab country was the second largest destination for Brazilian exports to the League of Arab States, totalling US$ 1.34 billion, a 55.4% increase over the previous year. Brazilian imports from Egypt, on the other hand, amounted to US$ 37.72 million, a 21.2% increase compared with the same period last year.

In 2006, Egypt was the 9th largest Arab supplier to the Brazilian market, and despite the growth in Egyptian exports to Brazil, just 0.04% of Brazilian imports came from the Arab country. The main products purchased from Egypt were mineral fuels, cotton, chemical products, skins, tools, and carpets. Exports from Brazil, on the other hand, were mostly meat, sugar, iron ore, chemical products, vehicles, machinery and paper.

According to Alaby, who will provide an overview of trade with the Arab countries, seminar "Business opportunities with Egypt" should also be given in other Brazilian states. "Egypt may also be used by Brazilian companies as an export platform to countries in Africa, the Middle East, and Europe," he said. Trade agreements involving Egypt include the Common Market for Eastern and Southern Africa (Comesa), which includes 19 member countries; the Greater Arab Free Trade Area (Gafta), 17 member countries, and the Euromed, of the European Union. Those three agreements warrant Egypt an extended market of 700 million consumers.

Opening the seminar will be the vice-president at the Fiep, Ardisson Naim Akel, and after the seminar a debate will be held about business opportunities and expectations between Paraná and Egypt.

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