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.
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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.
Saudi-led Middle East Green Initiative expanded as 11 new members signed up, including Algeria and Lebanon, as well as the United Kingdom as an observer. The goal is to cooperate regionally in combating climate change.
The federal government announced the “Rice for the People” program to promote the rice production and stockpiling in the country. The goal is to stimulate the harvest of additional 500 thousand tonnes.
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.
On the second day of the Brazil Africa Forum, Brazil’s secretary for Africa and the Middle East, Carlos Sérgio Sobral Duarte, spoke about the continent’s economic progress and said the trade relationship with Brazil is modest compared to its potential.
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.
Algeria has joined the list of the top 20 importers of Brazilian beef, at 34,200 tonnes from January to September. The UAE also increased their purchases, contributing to the rise in exports.
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 organization has joined the Azerbaijan Halal Business Forum, where it is introducing Brazilian small and medium businesses active in the halal market. COP29, which will be held in the capital, Baku, was also on the agenda.
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 country could be a global leader in the sustainability debate, but first it must address domestic issues.
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.
The accolade is awarded in recognition of innovative efforts towards sustainability in six different categories. Winners will be known on January 14 in Abu Dhabi, United Arab Emirates.
