São Paulo – The Brazilian Ministry of Development, Industry and Foreign Trade has informed this Monday (2nd) that the first leg of its business mission to North Africa has yielded US$ 500,000 worth of immediate deals, plus an expected US$ 1.5 million in contracts for the coming 12 months. The program opened on Sunday (1st), in Algiers, the capital of Algeria.
According to the ministry, business matchmaking rounds were held amounting to 46 meetings with Brazilian and Algerian businessmen. The delegation is led by the ministry’s executive secretary, Ricardo Schaefer, and comprises delegates from the food, logistics, medical equipment, agricultural implements, and steel industries.
The delegates also met with Algerian government officials. According to the ministry, they discussed the creation of a workgroup to work towards an agreement for cooperation and facilitation of mutual investment, among other topics.
The second and final leg of the mission will take place in Morocco. The initiative is backed by the Brazilian Export and Investment Promotion Agency (Apex), the Arab Brazilian Chamber of Commerce, the Brazilian Ministry of External Relations (aka Itamaraty) and the National Confederation of Industry (CNI).
*Translated by Gabriel Pomerancblum
