Emirates News Agency – The Business Forum between Sharjah and Sao...

Emirates News Agency – The Business Forum between Sharjah and Sao...
Emirates News Agency – The Business Forum between Sharjah and Sao...

Sharjah, 27 October / WAM / The business forum between Sharjah and Sao Paulo, Brazil, organized by the Sharjah Chamber of Commerce and Industry today reviewed joint investment opportunities and prospects for cooperation and bilateral partnerships in various economic sectors, providing the opportunity for more than 100 businessmen in the two countries to meet and discuss cooperation and investment opportunities available to the two countries. sides.

The forum, which was held at the Chamber’s headquarters, was attended by a high-level delegation from the Republic of Brazil headed by His Excellency Joao Doria, Governor of the State of Sao Paulo, His Excellency Abdullah Sultan Al Owais, Chairman of the Board of Directors of the Sharjah Chamber of Commerce and Industry, His Excellency Khalid Jassim Al Midfa, Chairman of the Sharjah Commerce and Tourism Development Authority, and Issa Hilal Al Hazami, Chairman of the Sharjah Sports Council His Excellency Ambassador Osmar Shahfi, President of the Arab-Brazilian Chamber of Commerce, His Excellency Fernando Luis Lemos Igrega, Ambassador of the Republic of Brazil to the UAE, His Excellency Mohammed Ahmed Amin Al-Awadi, Director General of the Sharjah Chamber of Commerce and Industry, His Excellency Saif Mohammed Al Midfa, CEO of the Sharjah Expo Center, and Mohammed Juma Al Musharrakh, Executive Director of the Sharjah Foreign Direct Investment Office “Invest in Sharjah” and Latifa Al Buabdelawi, Director General of the Islamic Center for the Development of Trade, Abdulaziz Shattaf, Assistant Director General of the Communication and Business Sector, a number of ministers from the state of Sao Paulo, officials from government institutions and bodies in the Emirate of Sharjah, as well as a large crowd of businessmen from major commercial, food and industrial companies Brazilian and Emirati.

The forum highlighted opportunities for building future investment partnerships between the two sides and increasing the volume of trade exchange, especially in the food sector. It also witnessed the signing of a memorandum of understanding between the Sharjah Chamber and the Investment Agency in Sao Paulo aimed at strengthening trade relations, developing and facilitating economic cooperation between business communities in both countries. To exchange trade delegations, enhance discussions in the fields of export and economy, support follow-up visits for this purpose, promote available investment opportunities, exchange experiences, knowledge and training for members.

His Excellency Abdullah Sultan Al Owais stressed that the organization of the forum came out of the Chamber’s keenness to strengthen the well-established bilateral relations between the UAE and Brazil, which are witnessing a clear growth in light of the two friendly countries’ desire to raise their relations to the highest possible levels, pointing out that the growth of economic relations between the UAE and Brazil is considered A practical indication of what can be achieved in the future based on the economic capabilities and capabilities of the two sides, especially since the total volume of trade exchange between the UAE and Brazil reached $2.7 billion at the end of last year, as agricultural food products accounted for 60 percent of the total Brazilian exports to the UAE, while The value of investment flows between the two countries amounted to about 700 million dollars (2.56 billion dirhams) during the past five years, which put the UAE in the first place in the Arab world in terms of trade and investment transactions with Brazil. The value of the UAE’s imports from Brazil in the first quarter of this year reached about 352.2 million $1.29 billion/ to come in third place among the largest importing countries The main imports from Brazil included iron, as well as food products such as sugar, poultry, beef, grains, soybeans and corn. The UAE is the second largest buyer of Brazilian products in the Middle East, and one of the UAE’s main exports to Brazil is oil, urea, sulfur, and aircraft spare parts.

Al Owais pointed out that the UAE is among the largest international investors in Brazil, with Emirati investments in Brazil estimated at about $5 billion.

He affirmed the Sharjah Chamber’s commitment to providing the necessary support and facilities for Brazilian businessmen to establish future economic partnerships, based on its strategic objectives to support business growth and promote the Emirate of Sharjah as a global trade center through the emirate’s promising investment incentives for businessmen and investors from all over the world to enable them to achieve more. of success and progress on its own land.

For his part, His Excellency João Doria, Governor of the State of Sao Paulo, praised the existing relations between the UAE and Brazil at various levels, stressing his country’s keenness to develop economic relations with the Emirate of Sharjah and to increase bilateral cooperation in a number of economic, commercial and food fields in particular, in which Brazil has made qualitative leaps at the regional levels. It aims to enhance trade exchange with Sharjah and build more fruitful partnerships between the two business communities in various sectors.

He pointed out that the state of São Paulo accounts for 30 percent of the total Brazilian economy, and owns the largest manufacturers of sugar, juices, coffee and fruits, and has the best airports and a developed road network, and this year witnessed an 8 percent improvement in its economy, which is the best improvement witnessed in 50 years, as it was able to save 1.2 million 1,000 jobs this year and has more than 20 new projects. São Paulo also includes 4 million entrepreneurs. During the year 2020 alone, it attracted more than one million entrepreneurial projects. Brazil is considered one of the top 10 economies in the world, and São Paulo is on the list of future cities as a result of its investment of about two billion US dollars in scientific research only.

In front of the Brazilian delegation and businessmen, Mohammed Juma Al Musharrakh reviewed the opportunities for foreign direct investment in the sectors that lead sustainable development in the Emirate of Sharjah, the developed investment environment in the Emirate and the main sectors that constitute opportunities to attract foreign investments and emerging companies around the world to the Emirate’s markets, the most important of which are: tourism, culture, logistics, and technology. Green, health care, human capital, innovation, advanced manufacturing and agricultural technology, noting that the Emirate of Sharjah was able to attract foreign investments by about $320 million during the pandemic, and also includes more than 10,000 companies in Sharjah’s free zones and about 60,000 small and medium companies, calling on Brazilian businessmen to benefit from The recent reforms represented in raising the percentage of ownership by foreign investors in a number of economic sectors to 100 percent, in addition to residency programs and distinguished visas for investors and many other incentives that are unique to the UAE at the level of the region.

A number of Sao Paulo state ministers and officials in the Commercial Investment Agency gave speeches in which they highlighted the most important elements of investment in the various economic sectors. The forum also included holding bilateral business meetings between businessmen from both sides that focused on discussing partnerships, cooperation, mutual coordination and discussing available investment opportunities.

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