The Arab-Brazilian Chamber of Commerce (ABCC) has revealed that Brazilian investors are attracted to the UAE, particular the ease of doing business in the country and its lucrative business opportunities. 

 

It comes after the UAE's recent number one ranking in the Middle East and North Africa (Mena) region on the World Bank’s annual Ease of Doing Business Report for 2016. 

 

The strong appeal of doing business in the UAE will further strengthen the trade relations between the two countries that have witnessed robust growth at all levels over the years, it said.

 

According to the report, the UAE was positioned 31 globally among 189 countries, moving up by one spot from the 2015 ranking. 

 

The report measured the procedures and legislations to promote investment and trade as well as highlights obstacles affecting 10 key areas in business. 

 

It also offered quantitative indicators on business regulations and the protection of property rights.

 

Meanwhile, Brazilian exports to the Arab World reached $5.7 billion during the first half of the year, whereas Arab exports to Brazil touched $3.3 billion during the same period. 

 

ABCC has been working to enhance relations between the two countries through different activities, including facilitating business visits and seminars.

 

Dr Michel Alaby, secretary general and chief executive officer, Arab-Brazilian Chamber of Commerce, said: “The UAE is a fast-developing country with several mega projects underway that not only contribute to the gross domestic product but also help in diverting reliance away from hydrocarbons. 

 

"Under the directives of its visionary leaders, the nation’s highly conducive business environment through the implementation of strict regulations and strategic policies offers tremendous investment opportunities to Brazilian investors and entrepreneurs. Brazil has enjoyed excellent bilateral relations with the UAE for a long time which will continue to prosper in light of the attractiveness of doing business in the latter.” - TradeArabia News Service