São Paulo – Brazil and the United Arab Emirates signed a memorandum of understanding on Wednesday (9) for technical cooperation on issues related to export credit insurance. The agreement was signed by government trade body Camex affiliated with the Ministry of Development, Industry, Trade and Services of Brazil, together with the Brazilian Guarantee Funds Management Agency (ABGF) and Etihad Credit Insurance (ECI), which is the Gulf country’s export credit agency.
According to information from the ministry, the MoU creates an “institutional framework” that allows for the exchange of information, experiences, and practices on insurance, finance, and project support.
In a statement, CAMEX Executive Secretary Rodrigo Zerbone said the initiative reinforces the Brazilian government’s efforts to expand international partnerships, in addition to “bringing Brazil’s export credit insurance policy closer to its foreign counterparts, contributing to strengthening Brazil’s productive capacity and integrating the national industry into global value chains.” The MoU does not yet include operational obligations.
The UAE is one of Brazil’s leading Arab partners. In 2024, Brazil exported USD 4.5 billion to the Gulf nation, an increase of 43.7% compared to 2023. In the opposite direction, it imported USD 898.6 million, a decrease of 25.3% in the same comparison. Brazil’s leading exports were sugar, chicken meat, and beef. Oil was the top imported product.
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Translated by Guilherme Miranda
