Business

The Arab-Brazilian Chamber of Commerce (ABCC) is positive that the vibrant trade connections between the Arab region and Brazil will continue this year as mirrored by the considerable growth in Brazil's agriculture exports to the Middle East throughout the initial 2 months of 2017. According to the recently launched information by the South American nation's Ministry of Farming, Livestock and Supply (MAPA), the worth of Brazil's agriculture exports to the region stood at USD 1.336 billion, up 22.8 per cent over the same period last year.

MAPA's report revealed that the share held by the region in overall international sales by the market reached 11.3 per cent in January and February of this year from 9.3 per cent in the first 2 months of the previous year. This made the Middle East Brazil's third biggest agriculture importer for the period behind Asia and the European Union.

Dr. Michael Alaby, CEO, ABCC, stated: "The Middle East's enhancing need for agriculture products many thanks partly to its expanding populace and consistent financial surge continues to own the durable trade ties in between Brazil and the region. In the years to coming, we will see stronger coordination and participation built on mutual confidence, count on, and typical passions in line with our dedication to increase trade and financial investment flows between the nation and their key Arab companions. Mainly, just what we do is provide a reliable platform for the fastest and best means for both Brazilian and Arab business to meet and make their particular business development intends a truth. We would like to think that the new MAPA data concerning Brazil's thriving agribusiness exports to the region is a positive nod to our unrelenting efforts.

Saudi Arabia was named the leading Arab purchaser of Brazilian agriculture products, with its transactions getting to USD 426.5 million to go beyond January and February 2016 figures by practically 30 percent, while Algeria's acquisitions got to USD 223 million or a boost of 42 per cent. In February 2017, the value of agriculture exports stood at USD 648 million, growing at 3.4 per cent in contrast to the same month of in 2015. Brazil's MAPA connected the solid efficiency to the enhancing deliveries of soy, poultry, beef and raw sugar to the Middle East.

Generally, total Brazilian agriculture exports in February generated USD 5.93 billion, while international sales in the very first 2 months of 2017 totaled USD 11.8 billion, standing for a 0.9 per cent development over the very same duration in 2014. The soy complex (grains, bran and oil) was the high performing group of products in January and February 2017. Furthermore, it videotaped a solid surge in shipments at 65 percent in February and 61 percent in the very first two months of the existing year.

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