Significant growth in Arab-Brazilian trade exchange

DUBAI — The Arab-Brazilian trade exchange has significantly developed during the first half of 2017, with the daily growth rate of Brazilian exports to the Arab countries being on the rise during the monitored period, according to the Arab-Brazilian Chamber of Commerce.

A report released by the Chamber has stated that the Brazilian exports bound to the Arab nations increased 15.4 percent during 2017 as compared to the corresponding period last year.

The exports, as per the report, includes sugar, iron, red meat, hunting gear and supplies, vehicles, engines, chassis, soya bean, chicken, coffee beans and gemstones, with the Kingdome of Saudi Arabia, UAE, Algeria, Egypt, Oman and Bahrain coming on top of the importing countries.

Dr. Michel Al Halabi, Secretary General of the Chamber, attributed the growth in trade exchange to the resilient relations binding the two sides and the blossoming partnerships across all fields.

In the meantime, the Brazilian imports from the Arab countries grew 27 percent during the same monitored period, from US$2.7 billion to $3.4 billion, and primarily included crude oil, potassium chloride, fertilisers, plastics, polymers, pesticides, semi-finished iron, airplanes spare parts, aluminum bars, and non-fabricated textiles.

Source: Emirates News Agency