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Brazil mission yields $81m deals.

The Brazilian Trade and Investment Promotion Agency (Apex-Brasil) has announced that its recently concluded trade mission to the Middle East generated $81.3 million in deals either closed during the event or to be sealed within the next 12 months.

The deals involve companies in all the GCC states plus Jordan and Lebanon.

Significant gains were made with UAE firms, the value of deals amounting to nearly $30 million of Brazilian exports to the country.

Business meetings in Riyadh and Doha generated business worth $16.5 million for the Brazilian companies. The trade mission featured 503 matchmaking meetings involving 232 buyers from the Middle East and the Levant.

Mauricio Borges, president of Apex-Brasil, also signed MoUs with Jafza, Dubai Media City, Dubai Export Development Corporation and Dubai Foreign Direct Investment.

The agreements were signed with Ibrahim Al Janahi, deputy CEO and COO of Jafza; Mohammad Abdullah, managing director of Dubai Media City; Saed Al Awadi, CEO of Dubai Export Development Corporation, and Fahad Al Gergawi, CEO of Dubai Foreign Direct Investment.

The MoU with Jafza aims to enhance the presence of Brazilian companies in the UAE through offices and production houses in the free zone. Apex-Brasil, itself, established its offices at Jafza back in 2009. The partnership with Dubai Media City will enable Brazilian companies to establish an office in Dubai at low cost, helping create an incubator for Brazilian companies from the services sector. Apex-Brasil and Dubai Export Development Corporation have agreed to exchange information and improve cooperation in exports. The MoU with Dubai Foreign Direct Investment will enhance mutual collaboration and seeks to jointly promote events.

Borges said the landmark agreements strongly demonstrated the dynamic relationship between Brazil and the region, particularly in trade and investment, and underlined the eagerness of key institutions from both sides to explore new avenues for cooperation and mutual growth.

"Apex-Brasil will continue to reach out to key governmental institutions and major business organisations to further cultivate trade and investment activities between Brazil and the entire Middle East region," he added.

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Publication:Gulf Industry
Geographic Code:3BRAZ
Date:Mar 1, 2012
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