Brazil eyes food production, tourism, health invest. in Egypt

BRASILIA – 21 November 2017: "Food production, tourism, and health are the main sectors in which the Brazilian government can invest in Egypt," Joao Bosco Monte, the President of the Brazil-Africa Institution, Fortaleza University, stated to Egypt Today Tuesday.

“But I have a suggestion; as Brazil is close to Egypt, Egyptians should come to Brazil to see what possible partnership aspects can result in mutual benefits,” he told Egypt Today on the sidelines of the South-South and Triangular Cooperation (SSTC) conference in Brazil on Monday.

Monte’s comments came in light of Egypt’s latest participation in the ninth annual BRICS summit, which was held in China's port city of Xiamen in September.

Monte also added that Brazilian technology could be used not only in Egyptian projects but also in the projects of neighboring countries, particularly the Gulf States.

“I remember when I was in Saudi Arabia last year. We had a discussion about a triangular cooperation issue. The idea came that we should produce in Egypt, bringing the Brazilian experience, technology and management; as well as funds from Saudi Arabia,” he said.

Monte continued that food production is one of the key sectors where Brazilian technology can help produce sugar, soybeans, rice, oil, and many other items.

It is worth mentioning that Brazil is one of the biggest soybeans exporters in the world as it produces around 57 percent of total soybeans acreage worldwide, according to the latest survey conducted by AgRural consultancy this month, Agriculture website reported on November 13.

Monte also expressed Brazilian keenness to cooperate with Egypt in various fields including energy, health, pharmaceuticals, and tourism, noting that such cooperation can be translated into establishing direct flights between Egypt and Brazil via cooperating with EgyptAir.

Monte clarified that he has invited the former Egyptian ambassador to Brazil to hold discussions with the private sector on creating more investment opportunities in Egypt, noting that the investors welcomed the notion of investing in the megaproject of the Suez Canal Development Corridor, adding that there should be more discussions regarding that issue.

At BRICS Business Forum, Egypt’s President Abdel Fatah al-Sisi called on the BRICS bloc (Brazil, Russia, India, China, and South Africa) to bring more investments in Egypt.