Mr. Ali El Saedi, Minister of Industry of the Arab Republic of Egypt

President Eduardo Duhalde,

Ambassador Celso Amorim, Minister of Foreign Relations,

Mr. Luiz Fernando Furlan, Minister of Development, Industry & Foreign Trade,

Messrs. Ministers of State, Governors, Senators and Deputies, members of the delegation that has accompanied me on the visit to Egypt,

Mr. Gamal El Nazer, President of the Egyptian Businessmen Association,

Ambassador of Egypt in Brazil Shadia Farrag,

Businessmen & women,

Ladies and Gentlemen,

It is to my great satisfaction that I participate at the closing of this Brazil-Egypt Business Meeting.

I hope that these working days in the Cairo have opened concrete business perspectives. Trade and investments can be powerful vehicles to bring our economies closer and to improve living conditions for our people.

Brazil and Egypt are countries of regional and global projection. We have many common interests.

Our governmental actions must create conditions to initiate new economic development cycles that eliminate social inequalities.

There exists a potential for complementary between our countries which is to be explored. It is of our mutual strategic interest to use this potential to our advantage. We need to identify partnerships and opportunities apart from the traditional world power circles.

We do not want to leave aside our relations with the developed world. We have to deepen them.

But this does not hinder us from establishing stronger economic and commercial ties with the developing countries. This new movement requires political will to change the pattern we have been used to for a long time.

My trip to the Middle East expresses this political will. I have come accompanied by an expressive group of Brazilian entrepreneurs, to whose presence, in this delegation, I am thankful.

Economic analysis clearly indicates that we have space for considerable improvements between Brazil and Egypt.

In addition to the products that have traditionally constituted our trade exchange such as Brazilian sugar and iron ore, and Egyptian cotton and carpets, we are witnessing, lately, the addition of other sectors in our bilateral exchanges. Examples are the fields of agriculture, irrigation, manufacturing of medicaments, and civil and military aviation.

Other products are being gradually identified, as part of the effort of this business mission.

The meeting of the bilateral Joint Commission in 2004 will extend the gamut of possibilities. This event will allow a detailed study of the various opportunities available for Egyptian exporters in the Brazilian market.

Trade is a two-way road. Brazil is open and ready to welcome the visits of Egyptian trade delegations who will find in our country and among the members of the Mercosul good business and investment opportunities.

There are strong links that join us. It is enough to mention the community of tens of thousands of Brazilians of Arab origin who are active in the most diversified productive channels.

In agro-business there are great possibilities for cooperation all along the productive chain: from cultivation to commercialization of coffee, corn, soy bean, wheat and products of animal origin.

The signing of a cooperation agreement between the Brazilian Fruits’ Institute

 (IBRAF) and HELA (Horticultural Exports Improvement Association) foresees the training of agronomists and technology transfer between our countries.

There is an ample range to benefit from the Brazilian-Egyptian comparative advantages whether in the domestic markets, or in third countries and regions, such as Europe and Asia.

The opening to the third markets is a factor capable of benefiting all parties interested in investing in Brazil and the Mercosul. The proximity of other South American markets and the facilities provided by the customs union of the Mercosul constitute a stimulus to investments in projects of common interest.

I lend prominence to the presence, in my delegation, of the former-president of Argentina, Eduardo Duhalde, who, today, stands at the head of the Permanent Commission of Representatives of the Mercosul.

Gentlemen entrepreneurs,

Negotiations to achieve greater trade liberalization in the region are progressing.

Negotiations with India and South Africa shall bring the Mercosul closer to other important markets.

I am confident that the Summit of the South American and Arab countries that we intend to convene during 2004, in Brazil, will provide a unique opportunity to promote a genuine approximation between our regions.

We want the business people of these two regions to be firmly engaged in this effort. They are the ones, together with our governments and societies, who will give life to those projects that, will certainly be born at that event.

Ladies and gentlemen,

Egypt is today an important trade partner of Brazil in the Middle East. Our trade exchange is around US$ 500 million and has the potential to grow further. Egypt is the country with which Brazil has registered its bigger surplus in the region. I reiterate our desire to identify forms to increase sales of Egyptian products to Brazil.

However, there are also other areas where the exchange can prosper, such as tourism, where the potential on both sides is enormous.

We have that to make a concerted effort to widen our traditional trade base. We need to add other products to provide scope and density to the relations of the two countries.

The creation of the Brazil-Egypt Business Council will serve as an instrument to find ways to stimulate our economic relationship. With this horizon, entrepreneurs of both countries will be able to create mutually beneficial partnerships.

The Brazilian government is pledged to collaborate in this endeavour.

The convening of this meeting is evidence of the promising perspectives of this approach.

Before concluding, I cannot fail to mention the purpose of my trip to five Arab countries. Beyond the political significance, we want to contribute to an effective change in the economic and trade relations’ pattern that have prevailed until today. Brazil and Egypt have cooperated in various international organizations and are both important leaders in the newly-formed G-20, which influences and will continue to influence, positively, the trade negotiations of the WTO, especially in fighting agricultural subsidies.

Joint action is needed to increase trade and investments flows between the countries of the South in order to create a new economic and commercial geography of the world. A geography that does not disdain relations with the developed world, but that creates a just equilibrium of power, interests, and benefits for all.

I am certain that I can rely on the enthusiasm of the business men and women of Egypt and Brazil for this reconstruction.

Thank you