São Paulo – The Arab Brazilian Chamber of Commerce will present the lecture Brazilian Economy: Outlooks for 2016 on January 28th, from 9:30 AM to 11:30 AM in its headquarters in the city of São Paulo. In the event, Zeina Latif, chief economist of XP Investimentos, will speak on the economic directions the country could take in the next twelve months. The Arab Chamber will also present its activity and events schedule for the year.
In a talk with ANBA, Latif, who holds a doctorate degree in Economy from the University of São Paulo (USP), said that the economic outlook for 2016 is very negative.
“We have a recession that started in 2014 and deepened last year. The government didn’t do the fiscal adjustment and, thereby, the country lost its investment grade, interest rates went up”, she said.
To her, the lack of a fiscal adjustment brought a recessive scenario for 2016. “It’s recession upon recession. It’s a scenario that isn’t normal. It’s a depression-like crisis”, assessed Latif.
According to her, the outlooks for 2016 are worrisome, since “the country shows signs of inflation de-anchoring”, bringing back the memory of the hyperinflation years in the 1980s decade. “We run the risk of not having a disinflation in 2016. It’s a very worrisome scenario. It’s an unseen scenario in the democratic period”, she said.
The economist says that the year will serve as a test to the national institutions and to the country’s maturity. “The authorities need to say enough and put the house in order. I’m afraid of us ending up in the position of Argentina of the last few years”, she emphasized.
Opportunities
With the domestic market displaying not very promising expectations, the foreign market becomes a good solution for business owners. That’s the assessment of Michel Alaby, the Arab Chamber’s CEO.
“I hope that with the currency depreciation and domestic recession, business owners see exports as a valid and interesting alternative for their companies’ sustainability”, said Alaby. “The Arab countries are a viable alternative for these exporters. These countries consume more than USD 1 trillion in imports. In food alone, it’s more than USD 80 billion”, he said.
According to the executive, besides the food sector, Brazil can expand its sales to the Arabs in the footwear, cosmetics and agricultural machines sectors, among others.
To highlight the opportunities that exist in the Middle East and North Africa markets, the Arab Chamber will release to business owners its 2016 activity schedule. Fairs, mission and exhibitions are part of the calendar.
According to Alaby, the idea for this year is to hold events that involve the many Arab countries. Nations such as the United Arab Emirates and Saudi Arabia are the most well-known by Brazilians, but the Arab League has 22 members.
According to Alaby, already on the organization’s schedule is the promotion of two economic forums in the city of São Paulo, a Brazil-Oman and a Brazil-Qatar forums, the organization of a cultural exhibition on Kuwait, also in São Paulo, and a cultural exhibition of several Arab countries in Brasília.
At Gulfood, the Middle East’s largest food industry fair, scheduled to take place from February 21st to 25th, the Arab Chamber will have an exclusive space. “We will set up a support office for the members, which we didn’t previously have. It will be an office located at the fair’s mezzanine, a supporting point for the members to gather with importers”, he explained.
According to the CEO, this year the organization should welcome a trade mission from the Comoros Islands and it’s working to promote the coming of missions from Djibouti and Somalia to Brazil.
Lecture Brazilian Economy: Outlooks for 2016 and presenting of the Arab Chamber’s Activity Schedule
January 28th, from 9:30 AM to 11:30 AM
Local: Espaço Câmara Árabe
Avenida Paulista, 326, 11º andar, Bela Vista São Paulo
The event is only for members
Free admission with limited openings
Registration and information with Natalie Garcia via phone (11) 3147-4073 or email ngarcia@ccab.org.br
*Translated by Sérgio Kakitani
