DAFZA Signs MoU with with the Arab-Brazilian Chamber of Commerce

Memorandum of Understanding (MoU) will focus on expanding bilateral Halal trade and investment opportunities between the UAE and Brazil

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Dubai: Dubai Airport Freezone Authority (DAFZA) has signed a Memorandum of understanding (MoU) with the Arab-Brazilian Chamber of Commerce (CCAB) with the aim of onboarding the Chamber as an HTMC service partner, during a webinar held by CCAB on June 10. The MoU signing ceremony was attended by Ms. Amna Lootah, DAFZA’s assistant director-general, and Mr. Rubens Hannun, CCAB president, in addition to officials from both sides.

The Halal Trade and Marketing Center is a global business development centre focused on opportunities within the halal economy for manufacturers, suppliers, and distributors of halal products and services. Cofounded by DAFZA and the Dubai Islamic Economy Development Centre (DIEDC), it is substantially supported by the key services partners across the halal economy ecosystem. Following the new partnership, CCAB will become a key contributor to the HTMC’s support services pillar.

During the signing ceremony, Ms. Lootah emphasized DAFZA’s ecosystem and its contribution to Dubai’s foreign trade in recent years. She explained DAFZA’s Islamic Economy Strategy and some of its key initiatives, which include the Halal Guidebook, the second version of which will be translated into Portuguese, in association with CCAB. As well as the role of HTMC in expanding opportunities for bilateral trade with the Brazilian market.

Speaking during the ceremony, Ms. Lootah commented: “The economies of Brazil and the UAE are highly complementary and show potential for significant cooperation in several trade and investment sectors, which are still unexplored or only partially developed. The UAE is the third-largest Arab trade partner and the second one in the Middle East for Brazil and there is a collaborative will to increase trade and investment between the two countries.

“The alliance between CCAB and HTMC will strengthen and increase the trade and investment flows between Dubai and Brazil. It will also generate opportunities and economic prosperity for companies in both regions. We are delighted to partner with CCAB as a service partner of HTMC and look forward to a bright future for halal trade between Brazil, Dubai and the wider region,” added Ms. Lootah.

Mr. Rubens Hannun commented: “Our relationship with DAFZA has strengthened over the years and is now consolidated with the signing of this important MoU. DAFZA’s work through the HTMC and CCAB contributes to the growth and development of manufacturers, suppliers and distributors in the halal economy. Our partnership will offer agility, reliable knowledge of the markets and a greater understanding of economic demands and trends, that allows us to maximise opportunities.”

CCAB organized the webinar to discuss the halal market opportunities for Brazilian companies. The virtual event showcased the latest trends, prospects and challenges in the halal economy. Brazil is the largest exporter of F&B products to the MENA region. It is estimated that Brazilian companies’ exported food and beverages to the region were worth 9.1 billion US dollars in 2018. However, there still remains untapped business opportunities for Brazilian companies in other halal sectors across the Arab countries.

During the webinar, a panel discussion took place and was moderated by Mr. Tamer Mansour, Secretary-General at the CCAB and included Mr. Rubens Hannun, Eng. Mr. Mohammed M. Saleh Badri, Co-Founder and Managing Partner at Prime Group, Mr. Ibrahim Abu-Helil, Co-founder and CEO at JIA Tourism Consultancy & Trade and Mr. Tomás Guerrero, Manager of HTMC.

The webinar showcased the role of the CCAB in helping Brazilian companies to get access to the halal market in the Arab countries as well as HTMC’s role in supporting companies in doing business in the Muslim-majority countries. The webinar also focused on trade facilitation from a technical point of view, including the harmonization of halal standards, elimination of trade barriers, as well as the process of halal certification. Trends in halal tourism were also discussed and the potential opportunities for Brazilian companies such as hotels or restaurants in a post-COVID-19 phase.

In March 2019, Brazil and the UAE signed investment cooperation and facilitation agreement, with the aim of stimulating, simplifying and supporting bilateral investments. In the first eight months of 2019, the bilateral trade between Brazil and the UAE witnessed US$2 billion worth of trade transactions.

Over 67 years, CCAB has been working to connect the Brazilian and Arab people to promote economic, social and cultural development, playing a pivotal role in developing the relationship between the two regions. CCAB is focused on growth and diversification of Arab-Brazilian trade, building relationships with public and private players in Brazil and the Arab world, with the aim of helping the Arab region be Brazil’s third-largest business and investment partner.

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