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CAIRO – 3 April 2018: Export Development Authority has organized the First Egyptian Trade Mission to Brazil from April 2 to 5, 2018, within the framework of activating the Mercosur Agreement to maximize trade movement from Egypt to Brazil.
The first trade mission to Brazil comes in coordination and cooperation with the Egyptian Commercial Service Office (ECS), Arab Brazilian Chamber of Commerce and the Egyptian Commercial Service office in Sao Paulo.
The mission coincides with the Arab-Brazilian Forum that organized by the Arab Brazilian Chamber of Commerce, along with the Union of Arab Chambers.
The forum hosted approximately 400 people, including government authorities, diplomats, economists, executives and entrepreneurs.
Egypt participates in the forum through a number of delegations in many export sectors, with the aim to export to Brazil.
Egypt’s exports to Brazil increased by 64.7 percent year-on-year in 2017, to stand at $155.4 million, compared to $94.3 million in 2016.
The Brazilian Ambassador to Cairo, Roy Amarell, said earlier that entering the Mercosur Agreement into force will enhance trade and investment with Egypt, noting that Egypt is the main importer of Brazilian products in Africa.
The Mercosur Agreement is a free trade agreement signed by Egypt and Mercosur countries in 2010, including immediate customs clearance for 63 percent of the exports of Brazil, Argentina, Uruguay and Paraguay to Egypt.
There are potential trade opportunities for Egypt and Brazil under the Mercosur Agreement that include the trade of animal feed, wood, paper and iron and steel.
The South American Common Market (Mercosur) is an economic bloc compromising Argentina, Brazil, Uruguay and Paraguay.
The trade deal, which covers food, cars, auto parts and industrial supplies, was signed by Egypt and Mercosur members in 2010, but it only came into force in 2017.