Brazil exported $5.2 million worth of auto parts to the Arab world in 2012, with shipments to the UAE amounting to $699,000, said the Brazilian Trade and Investment Promotion Agency (Apex-Brasil).

The agency recently gathered leading Brazilian automotive companies and Arab investors to discuss new investment opportunities in the automotive sector during the recently concluded Brazilian Autoparts Manufacturers Event at the Capital Club in Dubai.

The UAE has also been an important gateway to local aftermarkets across the Mena region, a very important destination for Brazilian auto parts shipment, which globally was estimated to be worth $10.47 billion in 2012.

Other key markets in the Mena region include Egypt, which imported over $3 million worth of auto parts from Brazil in 2012, Tunisia, Jordan, and Saudi Arabia among others.

Sidney Alves Costa, director general of the Apex Business Centre in the Middle East, said: “Brazilian auto parts are exported to around 186 countries and this clearly validates the important role of Brazilian manufacturers in the global trade of auto parts.

“The Mena region has accounted for a huge percentage of Brazilian auto parts exports and Apex-Brasil is therefore taking proactive efforts to further stimulate new growth opportunities in the region.

“The UAE, in particular, has been a key market for Brazil in the Mena region and will certainly play a major role in further expanding trade activities between Brazil and the Arab world,” he added.

“The Brazilian Autoparts Manufacturers Event organized by Apex-Brasil in Dubai was part of our ongoing thrust to build on the important gains that Brazilian manufacturers have achieved in the region. The enthusiastic response that we received from all key stakeholders and participants of the event clearly points to a very positive growth outlook for Brazilian auto parts suppliers in the Arab world,” Costa concluded. – TradeArabia News Service