Minister of Investment and Foreign Trade Mohamed Farid Saleh held talks on Friday, August 7, 2026, with Brazil's Minister of Development, Industry, Trade and Services, Marcio Fernando Elias Rosa, on ways to strengthen trade and investment relations between Egypt and Brazil, expand bilateral trade, and open new markets for Egyptian exports, on the sidelines of the 16th BRICS Trade Ministers' Meeting in Jaipur, India.
During the meeting, Farid reaffirmed the Egyptian government's commitment to deepening economic ties with Brazil and maximizing opportunities for cooperation in trade, investment, manufacturing, energy, and tourism, describing Brazil as one of Egypt's key partners in South America.
The talks also addressed a proposal for cooperation to position Egypt as a regional hub for supplying low-carbon marine fuels, particularly biofuels for vessels transiting the Suez Canal, with the aim of enhancing the canal's competitiveness and leveraging its strategic role in global trade.
The Brazilian minister reviewed his country's experience in developing biofuel technologies, including Sustainable Aviation Fuel (SAF) and biofuels for maritime transport. The two sides agreed that Brazil would provide the Egyptian side with a technical presentation on the products and their advantages.
Farid proposed holding a videoconference involving representatives from the Suez Canal Authority, the Ministry of Petroleum and Mineral Resources, and other relevant bodies to explore technical aspects and opportunities for cooperation in this field. The minister also outlined investment opportunities in Egypt's petroleum, oil, and natural gas sectors, particularly in refining and related activities, proposing meetings with Petrobras and other specialized Brazilian companies to discuss potential investments in Egypt.
For his part, Rosa expressed his readiness to present Egypt's investment opportunities to relevant Brazilian companies. The two ministers also discussed organizing a joint workshop between Brazil's APEX Brasil trade and investment promotion agency and its Egyptian counterpart to showcase investment opportunities and trade promotion mechanisms in both countries.
The meeting further highlighted the importance of reactivating and restructuring the Egyptian-Brazilian Business Council, including the exchange of updated membership lists, to ensure the participation of business leaders with a genuine interest in advancing economic and investment ties and translating available opportunities into joint partnerships and projects.
The Brazilian minister said his country views Egypt as an important partner and a gateway to African markets, expressing hope that Brazil would serve as Egypt's gateway to South American markets. He also stressed the importance of expanding bilateral trade beyond primary commodities and strengthening cooperation at the government level between the two countries.