International Monetary Fund has warned about the impacts that coronavirus will have on countries that are fragile and in conflict situations, such as Iraq, Djibouti and Somalia. Economy is expected to shrink by 7% in 2020, and internal problems could increase.
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During an Arab Chamber webinar on Wednesday (13), vice president Hamilton Mourão offered to help bring about the creation a direct shipping lane linking up Brazil and the Arab countries, and to pen double taxation treaties on investments with more Arab governments.
Trade, politics-diplomacy and technical cooperation will be the three pillars of the congressional group, said group chair senator Jean Paul Prates during a webinar hosted by the Arab Brazilian Chamber and by Fambras Halal.
Industries such as transport and ports had to rise to the occasion so trade would keep flowing amid the pandemic. The crisis ultimately fast-tracked digital solutions within the industry, according to experts from Brazil and elsewhere who were featured in an Arab Chamber webinar.
Arab Chamber holds next Wednesday (8), from 9 to 10:30 am (BRT), an online conference on food supply in Brazil-Arab trade. Khaled Hanafy, of Egypt, and minister Tereza Cristina, of Brazil, will join.
To help fight coronavirus, Brazilian companies from different sectors turn their plants and expertise to the production of masks, ventilators, and medical coats and shoes.
Government called for the population to consume domestically available products such as hard wheat and authorized the direct sale of flour from the mills to the population.
Brazil’s National Agency of Petroleum reported the cancellation the 17th bid round due to coronavirus.
United Nations Economic and Social Council estimates that the world will go through a recession in 2020 due to COVID-19, with sectors such as retail, hospitality and transport being strongly affected.
The Steering Committee for the world exhibition set to kick off in October in the UAE is considering moving the event to a later date. The move will be voted on by the Bureau International des Expositions member countries.
Despite the novel coronavirus, the Brazilian poultry company said it exports are ongoing. Beef company Marfrig said its units are operating normally. Minerva, whose activities include food services, put all workers on leave at some of its plants.
To help fight COVID-19, the measure announced last Wednesday by the Ministry of Economy of Brazil includes 61 products, such as test kits for coronavirus, and pharmaceutical, medical and hospital equipment and apparatus.
During a video conference this Thursday (26). The leaders of the world’s leading economies pledged to inject USD 5 trillion into global markets to address the coronavirus crisis, and to work to keep global supply chains working.
Central Bank’s index showed a month-on-month economic growth last January.
