34 countries to talk about LatAm, Arab Countries maritime partnership
According to the director of the Arab League’s Transportation and Tourism Department, Dina Dhaher, trade between South American and Arab countries has seen robust growth in the past few years, and it warrants a direct sea transportation route, which does not exist at this time.
Presently, the routes connecting the two regions go around Europe via the Mediterranean Sea.
Ships taking that route must stop before crossing the Suez Canal. Another path is through Africa, where ships must also stop. The time it takes for a product to reach its destination is 39.5 days on average.
Dhaher said that lately, both South American and Arab countries entered into regional partnerships which strengthened their trade. She said their economies grew, and so did trade among them.
A study commissioned by the Arab Brazilian Chamber of Commerce and presented during the 4th Aspa Business Forum showed that in 2005, South America exported USD 7.9 billion in goods to Arab countries.
By 2014, exports had soared to USD 20.8 billion. Bilateral trade amounts to USD 34.7 billion and 80.1 million tons per year. ■