Brazil attends Gulfood 2019 in Dubai
From Sunday (Feb. 17) through Thursday (21), 67 Brazilian companies took part in the Gulfood 2019, the biggest commercial fair for food, beverage, and agribusiness in the Arabic World, held in Dubai. The initiative was backed by the Brazilian Agency for the Promotion of Exports and Investment (Apex-Brasil).
Held since 1989, Gulfood is a major gateway for Brazilian goods into the United Arab Emirates and nearby markets. Its latest edition (2018), drew over 98 thousand visitors from 193 countries and more than 5 thousand exhibitors from 120 countries. The event brings together buyers and professionals from sectors across the production chain of the food and beverage industry, including decision makers and global influencers.
In 2017, Brazil’s exports to the Arab Emirates added up to $2.6 billion, up 12.2 percent from 2016. Exports plus imports totaled $2.8 billion, which shows Brazil’s great trade surplus in this market, with a significant amount of business opportunities. Also, in 2017, products in the food, beverage, and agribusiness accounted for 65 percent of the goods exported by Brazil to the Arab Emirates.
Economic diversity
Among the advantages mentioned by Apex-Brasil in making business with this Middle Eastern partner is the piecemeal diversification of the economy of the Emirates, which have been addressing their vulnerability to oil price fluctuations compared to other countries bordering the Persian Gulf, which lends more security to Brazilian exporters seeking to make business.
Together, the countries making up the Cooperation Council for the Arab States of the Gulf—Oman, the United Arab Emirates, Saudi Arabia, Qatar, Bahrein, and Kuwait—comprise the fourth biggest international buyer of Brazilian products.
Individually, the United Arab Emirates ranked 22nd on the list with top destinations of Brazilian exports in 2017, with 1.15 percent of the total share ($2.5 billion). Despite having a small territory compared to its neighbors, the Arab Emirates are Brazil’s third largest importer in the Middle East—followed only by Saudi Arabia (1.22 percent, $2.65 billion), Iran, (1.18 percent, $2.55 billion)—and is regarded as one of the most important markets in the region.
*With information from Apex-Brasil
