Brazilian companies close over $33 million business deals at Gulfood

The Brazilian Trade and Investment Promotion Agency (Apex-Brasil) has announced that participants from the country closed business deals estimated at a total of $33.2 million at the recently concluded Gulfood 2021 in Dubai.

Various pavilions of Brazil showcased at the exhibition eye prospects of reaching $236.7 million in the following months, according to Apex-Brasil.

Nearly 50 Brazilian companies participated in Gulffood 2021, the largest beverage and food industry event in the Middle East.

The Brazilian participants present at Gulfood 2021 noticed a change in the smaller quantity and flow of people due to access and circulation restrictions as pandemic containment measures. But this did not impact negatively on the business aspect.

“The Brazilian companies left the event very satisfied. The fact that the big players decided not to go was an enormous opportunity to diversify markets in the region and to prospect buyers”, says the president of Apex-Brasil, Sergio Segovia.

According to Segovia, holding Gulfood in person represented a step towards resuming the large international business events, and holding it in Dubai allows contact to be made with new business partners. “Dubai has a strategic location between East and West and is a hub for commercial and cultural relationships between various parts of the world. Among the big players, Brazil was the one with the largest delegation.”

“Besides, Gulfood offered perspectives to Brazilian businessmen about the resumption of the international fairs calendar, it showed that this will be even more important for Brazil because the pandemic has demonstrated the confidence that the world has in the country for its food security. The fairs are vital to dynamize and potentiate this role of Brazil, which was evidenced in the midst of the pandemic,” Segovia said.

The result represents what was negotiated by the companies that attended the event with the Apex-Brasil (USD 19.2 million in the event and $103.2 million in the next 12 months), by the companies that participated with the Brazilian Association of Animal Protein (ABPA - $13.2 million in the event and $129.5 million in the next 12 months) and also with the Brazilian Association of Meat Exporting Industries (ABIEC - $850,000 in the event and $4 million in 12 months), partner institutions of the Agency in the international promotion of Brazilian products.

Gulfood 2021 which opened on Feb.21, 2021 and ran until Feb.25 was the biggest trade fair of the Food, Beverage and Agribusiness sectors in the Middle East and North Africa (Mena) region.

The fair which began in 1989, is an important platform for the entry of Brazilian products to the United Arab Emirates and adjacent markets.

In its last edition, available data (2019) showed that it registered over 98,000 visitors and attracted more than 5,000 exhibitors from 192 countries. The profile of the buyers stand out and include trade professionals from all segments of the food and beverage production chain, with important decision makers and global industry opinion makers taking part.

Market studies conducted by Apex-Brasil indicated that food sub sectors presented a $10.8 billion opportunity for Brazilian products in imports from countries in the region and $4.2 billion in Brazilian exports to these markets. The Brazilian participation correspond to the significance of these sub sectors and 38.9 per cent of the companies at the Brazilian pavilion cater to this segment.

Apex-Brasil has its own office in Dubai to leverage the opportunities and further expand the presence of Brazilian companies.

The UAE is one of the priority markets for Apex-Brasil and Gulfood attracts buyers from major and relevant markets of Middle East and North Africa (Mena), such as Saudi Arabia, Iran, Algeria and Egypt. Dubai is acclaimed as a regional trading hub and a re-export platform for businesses seeking to grow in the Middle East, Africa and Southeast Asia.

Apex-Brasil said the progressive diversification of the country’s economy has also helped grow business seamlessly reducing its vulnerability to oil price movements in comparison with other Gulf states, which gives more security to Brazilian exporters and trade to be based in the country.

The Brazilian Trade and Investment Promotion Agency (Apex-Brasil) works to promote Brazilian products and services abroad, and to attract foreign investment to strategic sectors of the Brazilian economy.

Apex-Brasil organises several initiatives aiming to promote Brazilian exports abroad.

The Agency´s efforts comprise trade and prospective missions, business rounds, support for the participation of Brazilian companies in major international trade fairs, arrangement of technical visits of foreign buyers and opinion makers to learn about the Brazilian productive structure, and other select activities designed to strengthen the country’s branding abroad.