Cairo: Minister of Investment and Foreign Trade Mohamed Farid Saleh held talks on Friday, August 7, 2026, with Brazil's Minister of Development, Industry, Trade and Services, Marcio Fernando Elias Rosa, on ways to strengthen trade and investment relations between Egypt and Brazil, expand bilateral trade, and open new markets for Egyptian exports, on the sidelines of the 16th BRICS Trade Ministers' Meeting in Jaipur, India.
According to State Information Service Egypt, Farid reaffirmed the Egyptian government's commitment to deepening economic ties with Brazil and maximizing opportunities for cooperation in trade, investment, manufacturing, energy, and tourism, noting Brazil as a key partner in South America. The talks also explored positioning Egypt as a regional hub for supplying low-carbon marine fuels, particularly biofuels for vessels transiting the Suez Canal, aimed at enhancing the canal's competitiveness.
The Brazilian minister reviewed his country's experience in developing biofuel technologies, including Sustainable Aviation Fuel (SAF) and biofuels for maritime transport. Both sides agreed that Brazil would provide a technical presentation on the products and their advantages to Egypt. Farid proposed a videoconference involving representatives from the Suez Canal Authority, the Ministry of Petroleum and Mineral Resources, and other relevant bodies to explore technical aspects and opportunities for cooperation.
Investment opportunities in Egypt's petroleum, oil, and natural gas sectors were outlined by Farid, suggesting meetings with Petrobras and other specialized Brazilian companies. Rosa expressed readiness to present these opportunities to Brazilian companies. Additionally, both ministers discussed organizing a joint workshop between Brazil's APEX Brasil trade and investment promotion agency and its Egyptian counterpart to showcase investment opportunities.
The meeting emphasized reactivating and restructuring the Egyptian-Brazilian Business Council to ensure participation from business leaders keen on advancing economic and investment ties. The Brazilian minister highlighted Egypt as an important partner and a gateway to African markets and expressed hope for Brazil to become Egypt's gateway to South American markets.
Both sides agreed to continue efforts to facilitate market access for agricultural and pharmaceutical products. In tourism, Farid highlighted opportunities to expand cooperation and cited Egypt's diverse offerings, ready to provide support and training to Brazilian tourism authorities and companies.
Farid noted significant growth in Egypt-Brazil economic relations, with Egyptian exports to Brazil rising from $455 million in 2021 to approximately $1.27 billion in 2025, marking a 179 percent increase. Total bilateral trade reached about $5.83 billion in 2025. He added that the focus would be on diversifying bilateral trade, increasing Egyptian value-added exports, and encouraging joint investments to strengthen the economic partnership, opening new markets for Egyptian products.