UAE, Brazil to expand bilateral halal trade and investment ties

Business Bureau, Gulf Today

Dubai Airport Freezone Authority (Dafza) has signed a Memorandum of Understanding (MoU) with the Arab-Brazilian Chamber of Commerce (CCAB) with the aim of on boarding the Chamber as an Halal Trade and Marketing Center (HTMC) service partner, during a webinar held by Arab-Brazilian Chamber of Commerce.

The MoU signing ceremony was attended by Amna Lootah, Dafza ‘s assistant director-general, and 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.

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.

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, Lootah emphasised 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, 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 alliance between Arab-Brazilian Chamber of Commerce 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 Lootah.

Rubens Hannun commented: “Our relationship with Dafza has strengthened over the years and is now consolidated with the signing of this important MoU.