Brazil continues to cement its bilateral trade relations with Arab countries as reflected in a surge in exports from the region. According to statistics released by the Arab-Brazilian Chamber of Commerce (ABCC), collective exports from the Arab World to Brazil recorded a substantial increase in 2014 to reach a total of USD 11.427 billion. The key products imported from the region to Brazil comprised plastic, aluminum, organic chemicals, mineral fuel and oil, and fertilizers.
The imported products came primarily from the Kingdom of Saudi Arabia (KSA), Algeria, Morocco, Kuwait and Iraq. The KSA was the leading exporter with USD 3,299.25 billion, an increase of 3 per cent from USD 3,194.22 billion over the previous year. Brazilian imports from Kuwait increased 18 per cent in 2014, USD 1,205 billion, from USD 1,016 billion in 2013. Imports from Oman grew by 275 per cent from 2013’s USD 64, 76 million to USD 243 million in 2014, where UAE exports reached USD 500 million.
Dr. Michel Alaby, Secretary General and CEO of the Arab-Brazilian Chamber of Commerce, said: “Brazil and Arabian countries have had a long history of business relations which is heartening to see strengthening further with each passing year. In 2014, the exports to Brazil from the Arab World recorded a significant increase, especially from the GCC region, with fertilizers and mineral fuel and oil capturing the largest share. The Arab-Brazilian Chamber of Commerce reiterates its commitment to providing strategic support in further bolstering trade ties between the Arab regions and the South American country. In 2015, we look forward to facilitate meetings between Arab and Brazilian traders to further explore the latent trade potential.” Among the traded products, organic chemicals increased 266 per cent from USD 11 million in 2013 to USD 40.09 million in 2014, followed by aluminium which rose 129 per cent to reach USD 49.64 million. On the other hand, the import of plastic surged by 57 per cent to USD 282.66 million and fertilizers by 2.29 per cent to USD 1,867.52 billion.
Source : WAM News Agency for United Arab Emirates
