Arab Chamber participated in Russian–Arab Business Forum| MENAFN.COM

Wednesday, 18 May 2022 10:15 GMT

Arab Chamber participated in Russian–Arab Business Forum


(MENAFN- Brazil-Arab News Agency (ANBA))

Cairo – The Arab Brazilian Chamber of Commerce (ABCC) participated in the Russian–Arab Business Forum, held in parallel with Expo 2020 Dubai, in the United Arab Emirates, under the motto“Russia and the Arab World: New Opportunities in a New Reality.” Over 400 participants from both regions attended the event. The ABCC was invited to present its role in fostering economic relations between the Arab bloc and Brazil.

The secretary-general of the ABCC, Tamer Mansour, said to ANBA the organization was the only institution from outside the Arab countries and Russia to participate in the forum. The ABCC was represented in the first two sessions of the event, the first discussing Brazil's experience in alternative medicines and the second about its role in stimulating economic ties.

According to Mansour, the ABCC has managed to help increase trade between Brazil and the Arab bloc in recent years. Last year, Brazilian exports to the Arab League amounted to USD 14,42 billion, the highest revenue since 2012. Arab imports to Brazil totaled USD 9.82 billion, the highest since 2014, with a total trade exchange of USD 24.25 billion between the regions, the highest since 2014.

He explained exports from Egypt to Brazil exceeded USD 500 million for the first time last year, and continuous growth rates are expected in trade between the Arab nations and Brazil.

Mansour pointed out the ABCC is expanding through its offices in Arab countries. The first was opened in Dubai, UAE; the second in Cairo, Egypt; and the third is expected to open in Saudi Arabia this year.

He highlighted the ABCC plays a vital role in reducing bureaucracy and costs on exports and imports between Arabs and Brazilians through the Easy Trade platform, which uses blockchain technology to digitally deliver all the required documentation to customs authorities for cargo clearance. The platform saves time, effort, and money on both ends, streamlining the trade process, therefore benefiting the end consumer.

During the session on the health sector and the COVID-19 crisis, the secretary-general of the ABCC spoke about the role Brazil plays in the supply of alternative medicines. According to him, natural nutritional supplements account for 34% of the pharmaceutical market in Brazil, mainly due to their prices being much lower than other medications. According to Mansour, there is great potential for cooperation with the Arab countries in this field, and companies in the sector have an excellent opportunity to achieve a strong presence in the Arab markets.

Translated by Elúsio Brasileiro

The post Arab Chamber participated in Russian–Arab Business Forum appeared first on Agência de Notícias Brasil-Árabe .

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