Sharjah & Brazil sign MoU to strengthen trade relation

By Arya M Nair, Official Reporter
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The Sharjah Chamber of Commerce and Industry (SCCI) has signed a Memorandum of Understanding (MoU) with the Brazilian Chamber of Commerce of São Paulo.

The MoU aims at strengthening trade relations, fostering mutual work prospects, and propelling investment opportunities accessible to each side. The initiative also seeks to augment the cooperative endeavours between the business communities in the UAE and Brazil.

The MoU was signed by Mr. Abdullah Sultan Al Owais, Chairman of the SCCI, and Mr. Roberto Mateus Ordine, President of São Paulo Chamber of Commerce. Other notable attendees included Mr. Abdulaziz Mohammed Shattaf, Assistant Director-General of the Communication and Business Sector at the Sharjah Chamber, and Mr. Jamal Saeed Buzangal, Director of the Media Department at the Chamber, along with several officials from both delegations.

The MoU outlines various avenues of collaboration, including exchanging trade delegations and discussions related to exports and the economy. It also supports the facilitation of visits and the development of a trade network.

The agreement also entails the exchange of commercial data, information, and statistics, activation of joint research endeavours, and participation in events, exhibitions, and trade conferences on each side. Moreover, it promotes sharing of technical knowledge, experiences, and training opportunities among members.

Mr. Al Owais emphasised that the MoU will significantly strengthen collaboration between the two chambers and benefit private sector entities and proprietors of innovative projects, ensuring mutual gains in trade and economic cooperation.

Mr. Al Owais also highlighted the enduring and constructive nature of the UAE-Brazil bilateral relations, which are observing a distinct growth in the volume of economic cooperation.

This agreement heralds a new era of collaboration between the two chambers, aiming to accomplish shared objectives and interests, he added.

Mr. Mateus Ordine echoed similar sentiments, stating that the MoU signing heralds a new era of bolstered efforts to strengthen cooperation in numerous areas of mutual interest. This comes against the backdrop of the enduring and robust relations between Brazil and the UAE, coupled with the current endeavours by both nations to fortify and expand their well-rooted economic ties.

Mr. Mateus Ordine also noted that the UAE ranks among the largest international investors in Brazil, with the trade exchange volume between the two nations witnessing remarkable growth. In 2022 alone, Brazil’s imports from the UAE tallied up to $2.65 billion, while its exports to the UAE amounted to $3.26 billion.

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