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Qatar seeking closer business ties with Brazil

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Qatar Development Bank (QDB) has led a Qatari business delegation to Sao Paulo, Brazil to partake in a series of networking events and matchmaking sessions as part of efforts to charter a new course in the nation’s commercial relations and export trends

QDB’s export arm, Tasdeer, accompanied the group of local manufacturers in coordination with the embassy of the State of Qatar in Brazil and the Arab Brazilian Chamber of Commerce.

QDB said the Arab Brazilian Chamber of Commerce played a critical role in the matchmaking sessions in the city of Sao Paulo, Brazil’s economic hub. The delegation, which included business representatives from Qatar’s agrifood, pharmaceuticals, petrochemicals, and metals industries, was by far the biggest to arrive from the Middle East, according to the chamber.

Hassan Khalifa al-Mansoori, executive director of Export Development & Promotion Agency, Tasdeer, said, “Trading with Brazil is advantageous for Qatar as our businesses will gain access to a new market, forge ties with new trading partners, and form new professional friendships with their counterparts in Brazil.

“To this end, I’m indebted for the support extended to QDB by both the ambassador of the State of Qatar to Brazil Mohamed bin Ahmad al-Haiki and Arab Brazilian Chamber of Commerce CEO Michel Alaby.”

He added, “With this trip, we, at Tasdeer, plan to build on the past successes of Brazil-Qatar trade relations. Last year, Brazil exported QR1.39bn ($378mn) worth of goods to Qatar and imported QR1.97bn ($532mn) from Qatar. This year, we aim to reach new heights in Qatar-Brazil economic partnership.”

Through its research-driven export initiatives, Tasdeer regularly aims to assist all local enterprises, particularly those with the ability to export and to break into regional and international markets.

The trip to Brazil came against the backdrop of a recent research conducted by QDB on the Latin American country’s market. The study took into account important aspects such as market size, average prices, market competitiveness, market needs, business culture, regulatory standards, as well as export procedures, trade laws, and compliance of Brazilian import-export documentation.

Since the establishment of Tasdeer, the exports development programme has successfully introduced Qatari exports to various world markets and reinforced the QDB’s support to local business through the provision of credit guarantees, services on trade finance, and risk hedging on invoices. (Source: The Gulf Times