On November 9^th 2016, Jebel Ali Free Zone (Jafza), part of DP World, and the UAE’s flagship trade and logistics hub for the Middle East region and Africa, has signed a Memorandum of Understanding (MoU) with Investe São Paulo, Brazil to strengthen trade cooperation and investment.

The cooperation agreement signed by the Sultan Ahmed Bin Sulayem, Group Chairman and Chief Executive Officer of DP World, and Chairman of Ports, Customs and Free Zone Corporation, and the President of Investe SP, Juan Quirós, will enable small and medium-sized enterprises from the state of São Paulo to use Jafza’s offices and distribution centers with 35% discount over market price and take advantage of the security, local support and business intelligence to re-export their products to the Middle East, Northern Africa, Asia and more.

Trade relations between Jafza and Brazil reached the mark of USD 764 million (2015) and are likely to grow in the coming years, fulfilling Brazil’s old dream of having a re-export platform in the Middle East.

The objective of signing the MoU with Investe São Paulo is strategic. The state of São Paulo represents the fourth largest economy in Latin America, with a consumer market of 44 million inhabitants, which enables considerable growth in bilateral trade between Brazil and GCC in upcoming years.  

Investe São Paulo works towards the promotion of investment and exports for the state of São Paulo. The organisation aims to improve the business environment in the state by adopting the best global innovations, and by providing the necessary support to Brazilian companies wishing to expand their activities internationally, particularly the Middle East.

 

Source: Jebel Ali Free Zone (Jafza) and Investe São Paulo.