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09/10/2017 - 07:00hs
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CNI to host business meeting in Abu Dhabi

Brazil’s National Confederation of Industry will hold a forum for Brazilian and Arab entrepreneurs on October 17 in the UAE. Chairmen from Brazilian industry federations will attend.



José Paulo Lacerda/CNI

Abijaodi: CNI will provide overview of economy

São Paulo – Brazil’s National Confederation of Industry (CNI) will hold the 1st Brazil - United Arab Emirates Business Forum on October 17 in Abu Dhabi, the UAE’s capital. The event will be attended by local entrepreneurs, as well as Brazilian ones who chair industry federations.

Speaking in an interview with ANBA, CNI Industrial Development director Carlos Eduardo Abijaodi said the forum is intended to capitalize on the fact that Brazilian federation chairs will be in the UAE. These executives, who are also business owners, will be in the country for WorldSkills, a vocational skills competition taking place in Abu Dhabi from October 15 to 18. Competitors will include roughly 50 students from Brazil.

At the forum, the CNI will provide an overview of Brazil’s economy, working with its own numbers regarding industry output and employment – which Abijaodi claims are on track to a gradual recovery –, as well as the fact that inflation is easing and the exchange rate is steady. Four infrastructure projects in different states of Brazil will also be introduced that can be invested in next year. “These are the ripest, more concrete ones,” the director says.

The forum will also feature presentations from the Dubai Chamber of Commerce and Industry and the Abu Dhabi Chamber of Commerce and Industry. Arab entrepreneurs are being invited to the event by both chambers, as well as the office of the Brazilian Trade and Investment Promotion Agency (Apex-Brasil) in Dubai. The event is being held by the CNI with the partnership of the Embassy of Brazil in Abu Dhabi.

Abijaodi explains that the CNI will provide figures on Brazilian investments in the UAE and vice versa. According to data from fDi Markets, eleven Brazilian companies have a combined USD 421 million invested in 12 different projects in the UAE, accounting for 1,259 jobs. Brazil is the 26th biggest investor in the UAE. Conversely, USD 1.5 billion worth of UAE cash is invested in 20 projects in Brazil, with jobs amounting to 2,579. The UAE is the 32nd biggest investor in Brazil.

The preferred overseas targets of UAE investors are real estate, oil and gas, tourism, logistics, financial services, and metals. Brazilians invest predominantly in oil and gas, metals, chemicals, renewable energy, food, and plastics. “We have a lot in common,” says Abijaodi, stressing that the purpose of the forum is to encourage mutual investment.

The CNI’s delegation in the forum will be headed by its chairman Robson Braga de Andrade. The Forum will run from 10 am to 12:30 pm at the Hyatt Hotel, followed by a networking luncheon.

*Translated by Gabriel Pomerancblum

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