Cairo - Decypha: Brazil exports $1.336 billion worth of agricultural products to the Middle East for the first two months of 2017, according to the Arab Brazilian Chamber of Commerce.

Agriculture exports have increased by 22.8% for the months of January and February of 2017 compared to the same period last year, revealed the latest data from UAE’s Ministry of Agriculture, Livestock, and Supply.  External sales for the region have increased to 11.3 %, up from 9.3% in 2016.

 In the Middle East, Saudi Arabia is the largest importer with value of transactions reaching $426.5 million for the first two months, up 30% from the same period last year. Algeria came in second with imports at $223 million, a 42% increase from 2016.

“The growing demand in the Middle East for Brazilian agriculture products is in part due to the growing population and sustained economic growth, reinforcing the strong trade relations between Brazil and the region,” said Dr. Michael Halaby, CEO of the Arab Brazilian Chamber of Commerce.

“We are committed to increasing investment flows between Brazil and its Arab partners, and we are essentially providing an effective platform to find a more efficient way for Brazilian and Arab companies to pursue their business expansion plans. The latest report findings is a positive indicator of our continuous efforts in the promotion of trade relations between Brazil and Arab countries,” added Halaby.

The Middle East is the third largest importer of Brazilian agriculture products following Asia and European Union.

Brazil’s total agricultural exports in February totaled $5.93 billion, while total foreign sales in the first two months of this year amounted to $11.8 billion, a 0.9% growth over the same period last year.

By Decypha News Editorial Team