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Abu Dhabi /Â WAM
Hameed Mohammed bin Salem, Secretary-General of the Federation of UAE Chambers of Commerce and Industry, has stressed the importance of developing investment and trade ties between the UAE and Brazilian private sectors in light of potential investment opportunities in both countries.
Salem said the idea of establishing a UAE-Brazilian Business Council or an Arab-Latin Chamber of Commerce Union is seen as a first step in promotion bilateral trade ties between both countries.
The remarks were made during a meeting at the Federation of UAE Chambers of Commerce and Industry’s headquarters, with Rubens Hannun, President of the Arab-Brazilian Chamber of Commerce, and Dr. Michel Alaby, Secretary-General and CEO of the Arab Brazilian Chamber of Commerce, and other officials.
The meeting discussed several suggestions and recommendations aimed at developing the UAE-Brazilian partnership through the Arab-Brazilian Chamber of Commerce, including increasing bilateral trade, exchanging visits and holding bilateral meetings between businessmen and investors, exchanging trade and investment information, especially in original electronic certificates, and encouraging various joint economic events to highlight available business opportunities.
Salem emphasised the importance of the private sector’s role in developing joint investments by overcoming all obstacles while developing trade exchange between the UAE and Brazil, which amounted to AED8.2 billion in 2016, and the establishment of an economic partnership between both countries in view of the increased presence of Brazilian companies in the UAE, as well as the increase of its trademarks that reached 210.
Hannun expressed his interest in developing bilateral trade ties between the UAE and Brazil and invited UAE businessmen to visit Brazil and explore various investment opportunities. He also praised facilitations granted by the UAE’s investment laws, which incentives to increase the scope of investments in the Middle East.