Trade between Brazil and Arab countries grew by 44 percent during 2021, with food exports alone reaching an estimating $14 billion, its highest since 2012, said Tamer Mansour, CEO of the Arab Brazilian Chamber of Commerce.
This comes as Arab countries, especially in the Gulf region, are combating the pandemic through strict measures such as vaccination and others, which help facilitate trade, and grow it back to pre-pandemic levels, Tamer told CNBC Arabia.
January reports revealed that trading between Brazil and Arab countries could increase further, by 2 to 4 percent in 2022, he added.
Trade between the United Arab Emirates and Brazil grew 33 percent in the first eight months of 2021, defying the atmosphere of gloom plaguing the global economy due to the Covid pandemic.
Brazilian Vice President Hamilton Mourão had told UAE media that the bilateral investments also had an upswing, with UAE’s investments in Brazil exceeding $10 billion.
