Discussions at the Brazil Investment Forum highlighted a favorable economic scenario for attracting foreign investments in Brazil. According to an executive from the IDB, Brazil is a key player in addressing major global challenges.
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Speeches and discussions reaffirm the need to strengthen and integrate trade exchanges. The UAE minister participated in a panel. The vice president of Brazil delivered a speech.
The Arab country held a forum in São Paulo on Friday (25) and participated in the first business council meeting with Brazil, focusing on advancing economic partnerships.
Musaab Al Mulla, vice president of energy and economic insights at Saudi Aramco, outlined at the B20 Summit in São Paulo how the company intends to achieve its planned reduction of greenhouse gas emissions. Increased efficiency in energy generation and emissions offsetting are part of the strategy.
To circumvent the rising prices of olive oil, Brazilians are buying it in smaller volumes, according to Rita Bassi from the Oliva association. The outlook is for a decrease in prices, however, due to the good olive harvest beginning in producing countries.
The Brazilian Chamber of Foreign Trade raised the import tax to 25% on certain iron and steel products and also increased rates on other items, including sodium chlorite and optical cables. Conversely, tariffs were eliminated for three products, including polyester threads.
GDP growth is lower than that recorded in 2023 due to the slowdown in the extractive sector. In a meeting with local authorities, the fund released new disbursements to the country.
The research institution TRENDS Research & Advisory from the United Arab Emirates hosted a symposium within the Brazil Africa Forum in São Paulo. In an interview with ANBA, senior researcher AbdulAziz Al Shehhi highlighted the role that Brazil and the UAE play as investors and supporters of Africa.
Brazil’s year-to-date exports to the Middle East and North Africa grossed USD 17.7 billion through September, up 25% from the same period last year. The performance is on track for a new record.
A World Bank analysis points out that the 26 poorest nations in the world are deeper in debt than at any time since 2006 and have struggled to attract low-cost financing.
The Arab country’s GDP may slow down in 2024, the same as it did in 2023, but an expected reversal of oil production cuts paves the way for 2.8% growth next year, the IMF said.
The Arab country’s GDP grew specially because non-oil activities. The manufacturing sector performed well, as did the financial and insurance sectors, professional, scientific and technical activities, transportation and storage, and information and communication.
Saudi Arabia’s region hosts mining complexes but still has potential in the sector, according to a Ministry of Industry and Mineral Resources’ spokesman.
Mwani Qatar signed a memorandum of understanding with the Qatar Free Zones Authority, through which it will provide support in port and logistics services to companies operating in the country’s free zones.
