Value of exports from the Arab countries to the Brazilian market stepped up 134% in January, driven by the mineral fuel prices.
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The Arab Brazilian Chamber of Commerce and the Arab Union of Customs Executives discussed signing a memorandum of understanding aimed at removing customs barriers that could hinder Brazil-Arab trade.
The institution issued an initiative to guarantee import operations through covering risks associated with issuing letters of credit.
The International Monetary Fund report estimates a 2.2% growth in the United Arab Emirates in 2021 and 3.5% in 2022. The organization defends prompt measures to contain the spread of COVID-19 and economic support leveraged the improvement.
According to the secretary-general of the Arab Brazilian Chamber, Tamer Mansour, the 2022 edition was one of the best and could surpass the results of the last five years.
Based in Baghdad, Royal Nuts has Brazilian nuts among its products, and the item is also included in the brand’s nut mix.
Beef, poultry, wheat, maize, and medicines are some of the products excluded from the decision of the Central Bank of Egypt to accept only letters of credit on imports.
Plant-based products can be seen in most booths at Gulfood 2022, signaling a consumer trend, along with healthier foods and sustainable packaging.
Executives from the Arab Brazilian Chamber of Commerce and the Egyptian Food Export Council met during Gulfood in Dubai and discussed initiatives to increase food trade between Brazil and Egypt.
In addition to expanding to new markets, companies have sought to establish points of sale or plants in the Arab countries. Examples of this are BRF and Tropicool, brands participating with the Arab Brazilian Chamber in Gulfood 2022.
Combined electrical power generated from wind and solar sources is already the second most used in the Brazilian market, behind only hydraulic. The use of clean energy sources has been growing in the country.
Egyptian banks were instructed to only accept letters of credit for import operations from early March. Entrepreneurs from the sector plead for a reversal of the measure.
This year’s edition has companies from different sectors, including pet food. For many Brazilians exhibiting at the show, target markets are in Africa.
The oil company posted several record numbers last year, including pre-salt production. The company has also increased its gasoline, diesel and jet kerosene sales.
