Business Between the UAE and Brazil
Trade between Brazil and the UAE is increasing exponentially; the number of visitors from Brazil to the UAE is estimated to double from 40,000 in 2012 to 80,000 in 2014.
“Brazil is Dubai’s primary business partner in Latin America so in delivering our strategy to increase visitor numbers from the region it was the natural location of choice for our first South American representative office”.
Tatiana Lacerda Prazeres, Secretary of Foreign Trade of Brazil said:
“The growing trade activity between Brazil and its partners in the Middle East, particularly the UAE, clearly reflects the strong bilateral relations that Brazil has nurtured across the region. Trade relations with the UAE has been especially robust as a result of our proactive efforts to create networking platforms that bring together key industry players from both countries to interact and explore mutually beneficial business opportunities.”
Shaikh Mohammad has stressed on the UAE’s keenness to sign trade agreements, and economic and investment partnerships in particular with Brazil, which is one of the most important emerging economies on the global stage.
Brazil is one of the growing and developing markets that DP World focuses on. Sultan Ahmad Bin Sulayem, Chairman of DP World has joint ventures with the terminal operator’s Embraport project, the largest Brazilian private multi-modal port terminal in the city of Santos, scheduled to be completed this year.
According to Costa, Brazil is currently eyeing the GCC and the UAE for investments and partners in very specific sectors including energy, semi-conductors, logistics and infrastructure.
Recent Trade and Investment Highlights:
- Brazilian exports to UAE grow 13% to reach over $2.45 billion in 2012.
- There are currently 20 established Brazilian companies in Dubai, UAE.
- Brazilian exports to the UAE have increased by 13.3% from $2.16 billion in 2011 to over $2.45 billion in 2012, according to Apex-Brasil.
- BMI‘s Brazil Shipping Report say experienced growth of 7.1 percent in total tonnage in the first half of 2011.
- BMI investment forecast in public and private infrastructure; ports will deal with demand and capitalize on trade opportunities.
- Brazil seeks investments worth up to $500 billion from projects across different sectors in the UAE and GCC region.
- Currently, the Gulf has invested roughly $4-$5 billion in Brazil, according to Sidney Alves Costa.
- $2 billion acquisition of a stake in Brazil’s EBX group by Abu Dhabi state investment fund Mubadala in 2012.
- Dubai’s DP World is in partnership with Brazilian construction from Odebrecht to buy a majority stake in Embraport, the largest Brazilian private multi-modal port terminal.
- Bilateral trade between the two countries reached 5.3 billion, depicting an increase of 6.62% from the previous year.