ADEX and Brazilian delegation explore ways to enhance trade cooperation
H.E. Mohammed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development (ADFD), and Chairman of the Exports Executive Committee of Abu Dhabi Exports Office (ADEX), welcomed a delegation from the republic of Brazil led by H.E. Flvio Augusto Viana Rocha, Special Secretary for Strategic Affairs of the Presidency of the Brazilian Republic. Along with Mr. Khalil Al Mansoori, Acting Director General of ADEX, and officials from both sides attended the meeting that took place during the eighth edition of the World Government Summit 2022 (WGS2022), held at Expo 2020 Dubai.
H.E Mohammed Saif Al SuwaidiemphasizedADFDs and ADEXs keenness to strengthen their economic relations with Brazil, pointing out that the UAE is one of the main trading partners of Brazil in the Middle East.
Meeting between the two sides provide new opportunities for future cooperation and promote an increase in trade volume, given the strong integration of the UAE and Brazilian economies in the trade and investment sectors, he said.
In his remarks, H.E. Flvio Augusto Viana Rocha highlighted that the UAE is a strategic partner of Brazil and a regional center for trade in the MENA, noting that Brazil aims to expand economic and investment cooperation with the UAE through the Brazilian Trade and Investment Promotion Agency (APEX), which has an office in the UAE, and considers the region as a crucial logistic, trade, and economic portal for Brazil to access the MENA markets.
Furthermore, Mr. Khalil Al Mansooriexplained howADEX works to support the national economy and boost UAE exports in the global market. He also identified the Brazilian market as one of the strategic marketsin Latin America for UAE exports, and we aim to increase Brazil's share of the countrys total trade in the future.
As of 2020, trade between the UAE and Brazil amounted to USD 2.7 billion, with agribusiness products making up 60% of Brazil's total exports to the UAE,while most of Brazil's imports beingchemicals and Sulphur from the UAE.
