World's 6th largest economy plans permanent commercial center in UAE, Arab countries
DUBAI, Feb 23rd, 2008: Brazil and other Latin-American countries are considering plans to set up a commercial center in the UAE and other Middle Eastern countries to establish a gateway for mutual investments in construction, real estate, clean energy, alternative energy and food industry, unveiled Ahmed Yassine, president of the Trade Exterior Chamber of Brazil- Arabian Gulf and North Africa (Golfobras).
Planned as a permanent exhibition of products from Brazil and Latin America, the exhibition will be set up first in the UAE then in other Arab countries to tap investment and marketing opportunities offered by the economic boom in the emirates of Abu Dhabi and Dubai to both local and foreign investments.
In a an interview with WAM at the conclusion of a regional tour by Brazilian businessmen, investors and a former senator, Yassine stressed that Arab-Brazilian relations will also gain fresh momentum through strong presence of future Gulf investments in Brazil which has become the world's 6th largest economy.
During the tour which took in the United Arab Emirates, Syria, Lebanon, Egypt, Libya and Oman, the Brazilian delegation held talks with businessmen and investors from Bahrain and Saudi Arabia.
This and similar future tours aim to further bolstering trade, economic and cultural relations between Arab countries and Latin America.
"An estimated 20 million people of Arab origin live in Latin America and 7 millions of them are in Brazil", said the prominent Brazilian businessman who himself is of Lebanese origins.
The Arab-Latin American relations are heading towards a real establishment of strong economic and cultural partnership that has been faltering for many years, he noted adding that Gulf countries in particular will have stronger presence in the Brazil whose gross national product (GDP) reached 1804 billion US dollars in 2007.
Glofobras, he said, has representative offices in Abu Dhabi and other Arab cities and will be soon playing a proactive role in boosting relations between the booming Gulf economies and Latin American economies.
The outcome of such frequent relations and visits to the region will be announced in due time, he remarked.
The bloc of Arab countries is the fourth main market for Brazilian agricultural products, only behind the European Union, the United States and China. In 2007, the bloc imported US$ 4.6 billion in Brazilian products, a growth of 4.83% over 2006.
Major imported Brazilian products are beef, chicken and sugar. In beef alone, the Arabs purchased US$ 689 million.
"The historic visit by Brazilian president Luiz Inacio Lula da Silva to Arab countries in 2003 opened the door that had remained closed for 134 years and we are harvesting the fruits of this new chapter in relations," Yassine said.
In 1876, he added, King Pedro II paid a visit to Syria, Lebanon and Palestine and was able to communicate with the region's Arab leaders in Arabic," said Yassine who is also President of Arab-Brazilian Cultural League.
The League, he said, will hold the Arab-Brazilian People cultural week 4 times a year to celebrate the cultural ties between Arab-Brazilians and their countries of origin.
He said there are plans to build the "Arab Wold Neighborhood" in Osfaya, a city built by Yassine himself on huge stretches of land some 30 kilometers from the capital Brasilia to accommodate 100000 people.
WAM/MMYS