The volume of trade exchange between Egypt and Brazil during the first ten months of 2023 amounted to about 2.4 billion dollars to make Cairo the Fourteenth partner of Sao Paulo, according to the statements of Paulino Franco, ambassador of Brazil to Egypt, who stressed that relations relations between the two countries have a long history and are characterized by friendly diplomatic relations and cooperation in various fields, and one of the oldest diplomatic relations, as the two countries celebrate the 100th anniversary of their diplomatic relations next year.
During the meeting organized by the Regional Office of the Arab-Brazilian Chamber of Commerce in Cairo, in cooperation with the Brazilian embassy in Cairo, which included a number of officials in the Ministry of Commerce, Industry and agriculture from the two countries, along with a delegation of Brazilian businessmen, he pointed out that commercial and investment activities between the two countries have increased steadily over the past years.
He added that Brazil is the largest trading partner of Egypt in Latin America, while Egypt ranks fourth as the largest trading partner of Brazil in Africa, which led to a trade balance of 2.4 billion dollars during the period (January – October) 2023, where Brazilian exports to Cairo recorded about 1.89 billion dollars, while Egypt exported to Sao Paulo about 440 million dollars.
He added that as part of the celebration of the 100th anniversary of diplomatic, social and economic relations between Egypt and Brazil, the Cairo-Sao Paulo direct air line will be operated, further strengthening communication and facilitating increased participation between the two countries.
Ambassador Ashraf Mounir, Deputy Assistant Foreign Minister for Latin America, said that Brazil is Egypt’s first trading partner in Latin America, and is the gateway for Egyptian products to the Latin continent, and Egypt is a gateway for Brazilian products to the African and Middle East market.
He explained that the Egyptian government is looking forward to further cooperation with Brazil at all economic, political and social levels, and there are promising opportunities that should be exploited to the best advantage, especially that trade exchange is limited to a limited number of goods, and trade should be switched from investment and exchange of experiences between the two countries.
Fahmy said that Brazil is an important trade partner for Egypt and that Egypt is ready to provide all the quantities of fertilizers that Brazil needs, especially urea and phosphate fertilizers, as the Foreign Ministry organized a visit for the ambassadors of Latin American countries in Cairo to the Abu Qir Fertilizer Company factory, and the Regional Office of the chamber in Cairo had a big role in that visit.
Michael Gamal, regional director of the Arab-Brazilian Chamber of Commerce in Cairo, said that economic relations between Egypt and Brazil have been growing significantly, especially since 2017 following the entry into force of the Mercosur agreement, which led to the exemption of many Egyptian products from customs duties when entering the Brazilian market.
