Brazil will \'increase investment\'
Brazilian ambassador to Cairo Marco Brandao revealed that Egyptian President Mohammed Morsi, will begin his first visit to Brazil next Tuesday. The President will be, accompanied by a delegation of ministers, including Foreign Minister Mohamed Kamel
Amr, and a number of businessmen to promote economic and trade cooperation and regional issues in the Arab world and Latin America.
The Brazilian ambassador said: \"We receive him (Morsi) with open hearts and hands,\" he added that the visit represents a \"cornerstone\" to supporting cooperation between the two countries.
During a business forum in Sao Paulo on Thursday Brandao confirmed that the President is expected to sign a number of agreements relating to agriculture, investment, environment and social affairs. He emphasised aviation and tourism agreements. Brandao further explained that Brazil its technical experience with Egypt
The trade between Egypt and Brazil currently amounts to around $3bn.
“Brazilian companies are seeking to increase investment in Egypt” said the ambassador, pointing out that there is currently only one Brazilian company which does so, totaling $1.5bn.