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UAE firms sign deal with Brazilian counterparts

DUBAI - Major companies in the UAE have signed deals with their Brazilian counterparts during the recently concluded ‘Brazilian Trade Mission to Middle East 2012’.

The Brazilian Trade and Investment Promotion Agency (Apex-Brasil) announced that the Mission that concluded recently in Riyadh, Doha and Dubai, recorded $65.3 million in deals either closed during the event or to be consummated within the next 12 months, involving Brazilian companies and their counterparts in the UAE, Saudi Arabia, Oman, Bahrain, Qatar, Kuwait, Jordan and Lebanon.

The UAE in particular made significant gains, with the signing of key business deals that will see $29.8 million worth of Brazilian exports to the UAE over the next 12 months.

The business meetings in Riyadh and Doha meanwhile generated business worth $16.5 million for the Brazilian companies. In total the trade mission featured 503 matchmaking meetings involving 232 buyers from the ME and Levant regions.

Apex-Brasil also revealed that it has signed memoranda of understanding with JAFZA, Dubai Media City, Dubai Export Development Corporation, and Dubai Foreign Direct Investment. Mauricio Borges, president of Apex-Brasil, signed the agreements with Ibrahim Al Janahi, deputy CEO and chief commercial officer of JAFZA; Mohammad Abdullah, managing director of Dubai Media City.