A historic boom in economic relations between the Arab countries and Brazil

Osmar Chohfi:

Arab-Brazilian Chamber of Commerce invested heavily in digital technologies to bring buyers and sellers together

Digital technologies, exhibitions, and trade missions are means to deepen economic relations

Trade relations between the Arab countries and Brazil witnessed a big boom during the past year, and trade exchange reached about $32.8bn, with a growth rate of 35.1% compared to 2021. Agricultural products accounted for the largest share of Brazilian exports to the Arabs, while fuel and fertilizers were the most important products imported from Arab countries.

Ambassador Osmar Chohfi, President of the Arab-Brazilian Chamber of Commerce (CCAB), said that the chamber has invested heavily in digital technologies to bring together buyers and sellers, as well as to facilitate, reduce costs and ensure product compliance for trade between these countries via blockchain technology on the champer's ELLOS platform, which, he added, has become even more critical after the conditions imposed by global events from the Covid-19 pandemic, the container and logistics crisis, the increase in commodity prices, and the conflict between Russia and Ukraine, which affected doing business.

He also said that the Chamber is expanding in opening international offices, whether in Brazil or in the Arab region, as it has opened offices in Brasilia, Brazil and Cairo, Egypt, and soon a third office will be opened in the Arab region in Riyadh, Saudi Arabia.

In addition, the chamber also adopts a track to intensify participation in exhibitions and trade missions (buyers and sellers) in Brazil and the Arab countries, and it has also agreed with the Brazilian government to promote exports of halal products by qualifying Brazilian companies to become able to sell these products to Muslim consumers all over the world.

He stressed that the Arab countries are an important consumer market and a platform for re-exporting Brazilian products to the countries that make up the Organization of Islamic Cooperation, despite the different halal standards for each country, which represents a challenge for Brazilian companies, but it is not a far-fetched challenge.