Brazilian companies should take advantage of low risk letters of credit (L/Cs) to win business in the Gulf's booming construction market.

This was the advice given by the secretary general of the Arab Brazilian Chamber of Commerce (ABCC), Michel Alaby, who is urging Brazilian businesses to participate in a trade mission to Qatar, Kuwait and the United Arab Emirates (UAE).

Brazilian delegation

Alaby says Brazilian businesses will have opportunities to offer their products and services to a market worth US$135 billion in the month of November.

This is the value of imports of the three Arab countries to be visited between 18-30 November by a Brazilian delegation organised by the ABCC and the Brazilian Export and Investment Promotion Agency.

Construction opportunities

The mission will focus on opportunities in the construction sector, which Alaby said grew by 11.6 per cent in 2006 in the Gulf Cooperation Council (GCC) countries of Oman, Qatar, Kuwait, UAE, Saudi Arabia and Bahrain.

Kuwait, Qatar and the UAE are all making big investments in huge residential, leisure and commercial projects.

No risk

In all three countries to be visited, according to Alaby, the risk in operations with L/Cs is nil.

Companies can register for the mission at the ABCC.

This article represents the views of the author and not necessarily those of the ICC or any of the other partners in DC-PRO.