Cairo: The Arab-Brazilian Chamber of Commerce has announced plans to potentially establish a logistics and storage hub for grains, sugar, and oils in the Suez Canal Economic Zone (SCZone), with backing from Brazilian investors. This initiative aims to strengthen the economic ties between Egypt and Brazil.

According to State Information Service Egypt, Walid Gamal El-Din, Chairman of the SCZone, recently met with a delegation from the Chamber to discuss collaborative opportunities. The discussions focused on forming partnerships between SCZone’s ports and Brazil’s Santos and Itaqui ports, emphasizing mutual benefits.

El-Din highlighted SCZone’s strong international competitiveness and its favorable position due to access to numerous global trade agreements. This strategic advantage allows SCZone to extend its reach into international markets effectively.

He also mentioned recent advancements in investor services within the zone, including the implementation of a streamlined one-stop-shop system that simplifi
es the licensing and permit processes across various sectors. This improvement aims to attract more investors and facilitate business operations.

Additionally, El-Din underscored the importance of collaboration with the Brazilian business community, particularly as Egypt becomes a member of the BRICS group, where Brazil is a significant player. This partnership is seen as pivotal in enhancing economic relations.

The Arab-Brazilian Chamber delegation expressed its commitment to bolstering economic ties, with a focus on cooperation in logistics, food production, pharmaceuticals, and automotive manufacturing. This initiative is expected to open new avenues for economic growth and development between the two nations.