Brazilian members of a bilateral business council decided on creating a taskforce to identify and come up with solutions for eventual barriers to increasing commerce and investment flows.
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The Brazilian Institute of Geography and Statistics (IBGE) said it was the sharpest downturn since record-taking began, in 2003.
Delegation headed by the country’s minister of Industry and Trade, Ali Al-Sunaidy, will be this week in São Paulo and Brasília. The group will attend business matchmaking, corporate seminar and 1st meeting of Bilateral Joint Committee.
On March 08 and 09, an event will bring together executives and government officials in Kuwait City. The goal is economic diversification.
The country posted a USD 923 million surplus in the first month of the year. Exports fetched USD 11.246 billion and imports amounted to USD 10.323 billion. Sales to the Middle East slowed down.
Financial institutions believe the rate will mark 7.26% this year and 5.8% in 2017, according to Focus bulletin by the Brazilian Central Bank.
Shower maker Fame is taking part in the Khartoum International Fair and had an order placed by its representative in the Arab country. The product is not widespread in the local market yet.
Brazilian members of the council, which gathers business owners from both countries, will meet next Tuesday to assess events schedule and goals to be accomplished.
Exporters association Abiec is taking 18 meat companies to the Gulfood fair in Dubai. Outside the event, two barbecues will be thrown for importers, authorities and opinion-makers in the UAE and Saudi Arabia.
The International Monetary Fund said the oil glut has affected the country’s economy and suggests cost containment measures including tax raises and wage freezes.
The country’s government defined a new electoral model that will open space for the representation of women and minority groups. Elections are expected to take place in September.
Agricultural equipment and commodities are the most sought items by companies from Sudan visiting the Brazilian stand at the Khartoum International Fair.
International Monetary Fund technicians have completed their third review of the country’s economy and the precautionary and liquidity line, which serves as a buffer against the crisis, remains in place.
The president of the Arab Chamber pointed out the importance of long-term contact for the maintenance and expansion of business with Middle East and North Africa countries. The Chamber released extensive activity calendar.
