Egypt seeks broader industrial partnership with Brazil beyond trade at BRICS talks
Cairo targets Brazilian investment in biofuels, manufacturing, and renewable energy
Egypt is seeking to expand its economic relationship with Brazil beyond trade by attracting Brazilian investment into manufacturing, biofuels, and renewable energy, Industry Minister Khaled Hashem said during talks with his Brazilian counterpart on Thursday.
Hashem met with Brazil’s Minister of Development, Industry, Trade and Services Márcio Elias Rosa on the sidelines of the BRICS Industry and Trade Ministers’ Meeting in the Indian city of Jaipur. He said Egypt is targeting investment in biofuels, ethanol, sustainable aviation fuel (SAF), agricultural machinery, food processing, medical devices, engineering industries, automotive components, electronics, pharmaceuticals, and renewable energy.
Hashem said Egypt has begun developing two sustainable aviation fuel projects and is studying the expansion of ethanol and biofuel production, while seeking to benefit from Brazil’s expertise in low-emission fuels and advanced energy technologies.
He added that Egypt’s industrial zones could host joint manufacturing projects, allowing companies from both countries to exchange production inputs and integrate into regional and global supply chains.
Rosa said bilateral trade between Egypt and Brazil is approaching $5 billion and that the Egypt-Mercosur Free Trade Agreement provides a strong foundation for expanding trade and investment between the two countries.
He added that Brazil is seeking to diversify its international commercial partnerships and views Egypt as a strategic gateway to markets across the Middle East and Africa.
The two ministers agreed to encourage greater private-sector participation through reciprocal business missions, closer cooperation between export and investment promotion agencies, and discussions on establishing an Egypt-Brazil Business Council.
They also agreed to identify priority sectors for future investment and organise technical and investment meetings in Cairo and Brasília to advance joint industrial projects and strengthen economic cooperation.