Brazil eyes Mideast auto parts market
Dubai, March 31, 2010
Brazilian automobile parts companies will pursue opportunities in high-growth markets such as the UAE during an upcoming multi-industry exhibition in Dubai.
Brasil Trade Middle East 2010 will run from May 9 to 11 at the InterContinental Hotel in Dubai Festival City.
Automobile parts ranked third behind housing and construction products and food and beverage among Brazil’s leading exports to the Gulf in 2009. The South American country sold $5.93 million worth of automotive goods to GCC countries last year.
It is looking to grow its auto parts exports in the GCC, one of the most important and developing automobile economies in the world and home to almost four million passenger vehicles.
Car sales in the Gulf have been picking up since the second quarter of 2009 and continue to exceed market expectations. Brazil is particularly eyeing countries such as the UAE that have exceptionally high per capita incomes and stable economies and yet lack local automobile production facilities.
“There are currently several road infrastructure projects underway in the Gulf which will eventually translate to good opportunities in transportation-related businesses,” said Alessandro Teixeira, president of Apex-Brasil, organiser of Brasil Trade Middle East 2010.
“The region has emerged as one of our top partners over the past years and so we want to gain a stronger hold on this important market as it further grows its automobile sector. Brasil Trade will allow us to interact with potential partners and see for ourselves how the auto parts business is faring in high-growth countries such as the UAE,” he added.
Brazil exported $4.6 billion worth of goods to and imported $1.7 from the Gulf in 2009, a statement said.
The more than 30 Brazilian exporters attending Brasil Trade Middle East 2010 will discuss how its Gulf partners can further expand commercial exchange and maximize the international popularity of Brazilian products. – TradeArabia News Service