The Arab-Brazilian Chamber of Commerce is considering establishing a logistics and storage hub for grains, sugar, and oils in Egypt's Suez Canal Econo
The Arab-Brazilian Chamber of Commerce is considering establishing a logistics and storage hub for grains, sugar, and oils in Egypt’s Suez Canal Economic Zone (SCZone) with Brazilian investment backing.
Walid Gamal El-Din, SCZone’s Chairman, met with representatives from the Chamber to explore collaborative opportunities, particularly enhancing partnerships between SCZone ports and Brazil’s Santos and Itaqui ports.
International trade
El-Din emphasized SCZone’s strategic global connectivity, bolstered by a network of international trade agreements that provide robust access to world markets. Additionally, he highlighted recent investor-friendly reforms in SCZone, such as a streamlined one-stop-shop system for simplifying licensing and permitting across all sectors, designed to facilitate foreign investment.
This initiative aligns with Egypt’s recent entry into BRICS, where Brazil is a prominent member, amplifying the significance of Brazil-Egypt economic cooperation. The Arab-Brazilian Chamber delegation expressed its commitment to deepening economic ties, with plans for joint initiatives in logistics, food production, pharmaceuticals, and automotive manufacturing.