Cairo: Head of the Egyptian Commercial Service Abdel Aziz El Sherif met Brazil's ambassador to Cairo Paulino Franco de Carvalho Neto to discuss ways to expand economic, trade, and investment relations, amid a sharp rise in bilateral trade.

According to State Information Service Egypt, trade between the two countries reached approximately $4.9 billion in 2024, marking a significant increase of 75.1% from 2023. Egyptian exports to Brazil nearly doubled, totaling around $940.5 million. Key exports included gasoline, phosphate and urea fertilizers, iron bars, and polypropylene. Meanwhile, imports from Brazil rose to about $3.9 billion, primarily driven by agricultural products and livestock.

The discussions between the two officials also centered on boosting Egyptian exports to Brazil, especially agricultural products. This follows Cairo's recent approvals to export citrus, guava, and mangoes to the Brazilian market. Furthermore, both sides agreed to enhance investment cooperation and considered the possibility of organizing an Egyptian-Brazilian business forum. As of February 2025, Brazilian investments in Egypt amounted to about $34 million, encompassing nearly 80 companies.