A Memorandum of Understanding (MoU) was recently signed between Jafza and Apex-Brasil (Brazilian Trade and Investment Promotion Agency) to support and encourage Brazilian SMEs to establish their initial operations in Jafza to explore opportunities in the UAE and the region.
The MoU was signed by Jafza Deputy CEO, Ibrahim Mohamed Aljanahi and the President of the Brazilian Trade and Investment Promotion Agency Mauricio Borges at a brief ceremony on the sidelines of a business conference organised on the visit of the Brazilian Trade Mission to the UAE on Feb.15.
The ceremony was attended by Fernando Pimentel, Minister of Development, Industry and Foreign Trade and other senior Brazilian and Jafza officials.
The MoU provides both parties to work together to lay down the framework for the establishment of Apex-Brasil as a business incubator at Jafza to support Brazilian start-ups to establish their operations in the free zone.
Ibrahim Aljanahi commenting on the collaboration said: “Sustainable growth of the small and medium enterprise sector is very important to the development of economies. This is why Jafza pays special attention to SMEs in the free zone. We are delighted to extend support and encouragement to Brazilian SMEs to establish their operation in the region from Jafza.”
Mauricio Borges said: “We are grateful to Jafza’s overwhelming support and encouragement to Brazilian entrepreneurs in their pursuit to establish their business in the region.”
The initiative is expected to further strengthen bilateral trade between Dubai and Brazil. Brazil’s total trade with the Middle East is at present estimated at over $7 billion.