Dubai trade to Brazil expected to grow in near future, says DED

03/08/2011 - Dubai Investment News Posted by Neil King
Dubai trade to Brazil expected to grow in near future, says DED

People considering Dubai property investment could be interested to hear that the emirate's Department of Economic Development (DED) is expecting export growth to Brazil in the coming years. It follows a trade mission from the UAE to Sao Paolo and Rio De Janiero that took place recently that saw more than 15 UAE firms take part. DED now believes that machinery and parts, plastics and plastics articles and iron and steel products will be among the industries to see growth in the coming years. Saed Al Awadi, the chief executive officer of Dubai Exports, told albawaba.com that the Brazilian economy is poised for further growth in the future. "In the medium-term, both private and public consumption is expected to grow fast," he told the news provider. "The Fifa World Cup and the Olympics will offer excellent opportunities for exporters and investors in Brazil over the next few years." Meanwhile, Jumeirah is to begin hiring for a new hotel opening in the coming months where it is expects to hire around 400 workers in Dubai.