(MENAFN) It has been shown recently that there's a strong need to intensify trade cooperation between the Arab and South American countries in view of the promising opportunities available in these nations.

Additionally, the private sectors in the two regions should take more intensive efforts and implement groundbreaking strategies to promote investments and business between the countries of the two sides.

17 percent of Arab exports go to the South American region, while 20 percent of their exports come to the Arab world. Arab exports to South America include, oil and petroleum products, while its imports include meat and grains.

Furthermore, free trade area between the two regions would further promote trade and investment between the two countries, plus there are several countries such as Brazil, Peru and Chile, which are emerging as ideal trade partners.