Arab-Brazilian Chamber of Commerce to Set up International Office in Riyadh

Arab-Brazilian Chamber of Commerce to Set up International Office in Riyadh

The ABCC said the new office would offer 'enormous' economic benefits to the Brazilian and Arab markets The move follows the success of ABCC's first office in the region, which opened in Dubai two years ago. In addition to the Riyadh office, ABCC also plans to open an outpost in Egypt, it was announced last week. The facilities, which aim to bolster trade relations between major Arab markets and Brazil, will assist companies looking to partner Brazilian firms, and vice versa. ABCC President Rubens Hannun said that the development would give members a competitive edge and offer "enormous" economic benefits to the Brazilian and Arab markets. "It will bolster trade activities among relevant parties as we remain committed to deliver solutions through our offices in the Arab world, including cost-effective procedures and faster import-export processes. It is a milestone in our ongoing efforts to reinforce trade ties between Brazil and the Arab countries," he said. While Brazilian food and beverage exports to the Arab region were down 8. 7 percent year-on-year in 2020, the region accounts for $6. 19 billion worth of produce and is Brazil's second largest purchasing market after Asia, according to figures published last week by the