Egypt, Brazil discuss launching logistic zones, direct flights

CAIRO – 11 June 2024: Assistant to Foreign Minister for Americas Affairs Sameh Abou El Enein and Brazilian Assistant to Foreign Minister for Africa and Middle East Affairs Carlos Duerte co-chaired Tuesday talks on bolstering economic cooperation building upon the outcomes of the Brazilian president's visit to Egypt in February.

The two sides discussed plans to establish a logistic zone in the Suez Canal Economic Zone (SCzone) that would mainly consist of grain silos, and a similar one in Brazil. That is in addition to launching direct flights between the two countries.

Both delegations conferred over ways of increasing the size of bilateral trade exchange that currently stands at $2.8 billion per annum, given that there is a free trade agreement signed between Egypt and Mercosur comprising Brazil, Argentina, Paraguay, and Uruguay. They also stressed the importance of encouraging the reciprocity of investments, experience and technology.  

The Egyptian side further asserted aspiration to cooperate more with Brazil within the BRICS and as a chair of the G20.