GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Food Industry

 
  Share

UAE, October 16, 2017- The Arab-Brazilian Chamber of Commerce (ABCC) has announced that the Free Trade Agreement (FTA) signed between Mercosur and Egypt came into effect. Signed in 2010, the agreement outlines bilateral trade between Egypt and Mercosur, the bloc made up of Brazil, Argentina, Uruguay and Paraguay, through which 63 per cent of its exports will be covered immediately, becoming eligible for import tax exemption. Last year bilateral trade between Brazil and Egypt reached over USD 1.8 billion, of which 78 percent was made up of products covered by the agreement. Over the next 10 years, a projected 99 percent of trade between Mercosur and Egypt will fall under the agreement. 

Products exported from Brazil to Egypt that will reap the immediate benefits of this agreement include beef products, cereal, ores and inorganic chemical products, while Egyptian exports covered by the agreement will include both organic and inorganic fertilizers, vegetables, cotton and textiles.  Brazil exported over USD 1.35 billion worth of goods to Egypt from Q1 to Q3 of 2017, reflecting an increase of 13 per cent compared to the same period in 2016. According to data published by the Ministry of Industry, Foreign Trade and Services (MDIC), Brazil imported USD 119.3 million worth of goods during the same period in 2017, reflecting an increase of 138.5 per cent in comparison to 2016. 

Dr. Michel Alaby, Secretary General and CEO of ABCC, said: “As the Free Trade Agreement signed between Mercosur and Egypt comes into effect, we can expect to witness a boost in trade as well as a strengthening of the partnership between Brazil and Egypt. Egypt is an important trade partner of Brazil in Africa as it accounts for 23 per cent of the purchases of Brazilian products in the continent. The list of products covered by the agreement is extensive. Regarding Mercosur's exports to Egypt, there are nearly 10,000 products included, with almost 63 per cent of exports to be covered immediately.”

The Mercosur-Egypt Free Trade Agreement will be discussed within training courses offered to Brazilian exporters across initiatives such as the National Export Culture Plan (PNCE), as well as in frequent talks with Brazilian companies. One of the Plan's work fronts is the training of exporters in Brazil.



Posted by : GoDubai Editorial Team
Viewed 4734 times
Posted on : Monday, October 16, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : More café re-opens its doors
Next Story : Improving food security measures key for MENA region to maintain high living standards & sustainable...
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Robinsons Honored for Outstanding Store Design
Safilo Group Reveals Its Spring/ Summer 2018 Collection
Bridal Glow is Skin Deep: Tips for every bride-to-be in 2018
Redefining the Skin Clinic Experience. #allnewkaya opens in Muscat City Centre!
Optim-Eyes Lashes & Brows with Filorga
Mealtop, Introducing a Whole New Dessert Experience
Catch Some Zzz's in the IKEA Nap Truck
Kate Spade New York Spring 2018 Collection
NEZO launches new identity to guide consumers in selecting the best salt for the...
South African artisans of fine leather products look to make big impression at L...
Dual Investments Brand LE66 to Relocate from City Walk to New Dubai Location in 2018
Global Expansion in sight for ICONS© Coffee Couture
Raymond Weil's Freelancer Ladies
Tag Heuer Carrera Heuer 02
Do You Feel Sleep Deprived? Nearly Half of UAE Would Give Up Social Media for an...
Al Ghurair Foundation for Education Event on ‘Graduating Work Ready Youth' Unvei...
15,000 participate in the Dubai Cares' annual Walk for Education 2018 in support...
DAMAC Properties deliveries surpass 20,000 unit milestone as it reports net prof...
Al Qattara Investments reveals expansion plans for Al Ain
Dealing with Diabetes: What German Medical Center's doctors say about the incura...
Indian FMCG Conglomerate Hamdard Laboratories brings “The Drink of India” - Rooh...
Galderma's “Leave Your Mark” Mobile Clinic heightens awareness of skin diseases ...
Jaguar Land Rover Awarded as Company of the Year
Dubai Culture Launches ‘My Environment My Responsibility' Initiative in Hatta
Name of New High-sided Vehicle to Be Rolls-royce Cullinan
Pink Caravan Ride Launches Mobile Mammography Clinic to Offer Specialised On-the...
Middle East Fuji LLC exhibits the Gold medalist of Japanese branded “Kobe Beef” ...
Preparing the perfect table setting with Bits & Pieces
The Allure of Mars: Making humans an inter-planetary species
Keys Ready to Make Her Mark at Dubai Duty Free Tennis Championships
WGS 2018: Teaching altruism, empathy, self-control will drive success, say educa...
Finnair and the Finnish Paralympic Committee agree to a partnership agreement
Arianna Huffington calls for a Third Women's Revolution to redesign a world focu...
Dubai Festival City marks successful first ever Nike+ Run Club edition
WGS 2018: DEWA Is Shaping the Future of Utilities with an Innovative and Holisti...
Capillary's digital growth initiative ‘Accelerate' partners with Google
The Future of Food: What's on your dining table in 2118
Saeed & Mohammed Al Naboodah Group Celebrates 60 Years of Excellence
Feast and famine: Bridging the gap between food abundance and malnutrition
Tommy Hilfiger celebrates the essence of ‘Classic American Cool'
His Excellency Dr Thani Al Zeyoudi Chairs First Meeting of UAE Council for Clima...
WGS 2018: Graça Machel Offers a Moving Tribute to South Africa's Iconic Former P...
WGS 2018: The Future of Superintelligence Is Far from Clear, Says Futurist
Etihad Aviation Group Launches Humanitarian Aid Mission for Rohingya Refugees
Classically elegant and stylish, the titanium mechanical NJ0090-13P makes a defi...
Get Your Weekend Entertainment Fix at Boxpark
Bean Body's Quick Guide To Men's Exfoliation
Sharjah Police Workshop Emphasises Innovation Benefits for All
WGS 2018: World Trade Organization relevant even as global trade alliances give ...
Can the AI that makes ‘fake news' viral also help filter it?