The International Monetary Fund announced the deliverance of USD 1.6 billion to the country, concluding a USD 5.2 billion agreement. The organization reemphasized the sound prospects for the Egyptian economy, expected to grow 2.8% in the current fiscal year and 5.2% in the next.
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Egyptian president approved the Suez Canal Authority’s plan to widen and deepen the southern part of the canal, where a ship had got stranded in March.
The administration plans to take advantage of the downtime afforded by the pandemic to overhaul the sector. In an interview with ANBA, Egypt’s ambassador to Brasília discussed the investments taking place to drive the industry.
Mummies and sarcophaguses were moved into the newly opened National Museum of Egyptian Civilization in a parade designed to promote the country as a travel destination.
Jaguatirica publishing house’s ‘Teaching Soccer: Beyond the Ball Rolling’ will be published in Egypt by Al-Arabi publishing house in January 2022. The book is the result of the work by researchers of Brazilian university UFMG.
Egypt’s Agricultural Exports Council (AEC) is hosting on Wednesday (10) the seminar ‘How to Export to Brazil,’ featuring the secretary-general of the Arab Brazilian Chamber of Commerce and Brazil’s agricultural attaché to Cairo.
Wadi El Zaytoon was already a supplier of olives to the Brazilian market. Last January, its first batches of oranges, limes and tangerines arrived in the country, with an additional 100 shipping containers’ worth of fruit expected by June.
Oranges from Egypt broke into the Brazilian market last May, and imports are going on, giving more options to local consumers.
The organization partnered up with the Confederation of Trade and Business Associations in Brazil (CACB) and the service is being made available in São Paulo and Itajaí since early February. Preferential certificates of origin are a requirement for eligibility for tariff breaks or tariff exemption in trade with countries that sustain free trade agreements with Brazil.
During a video conference on Tuesday (2), Brazil’s and Egypt’s Foreign Ministers discussed the Mercosur-Egypt agreement, ways to encourage more cooperation between the public and private sectors in both countries, and other issues.
Imports to the Arab country also slid last year, by 12%, the Ministry of Trade and Industry reported.
An online conference saw Brazilians and Egyptians discuss the numbers resulting from the Mercosur-Egypt agreement. The Arab Brazilian Chamber of Commerce’s president and secretary-general were featured.
Industry organization Abimde partnered up with the Arab Chamber for a webinar on Thursday (16) to discuss Brazil’s participation in an industry show next December in Cairo. The meeting was joined by Brazilian and Egyptian officials, as well as representatives from other industry groups.
The Arab country was awaiting publication of a ruling in Brazil’s Official Gazette so it could begin to sell citrus to the Brazilian market. The Arab Chamber will help promote sales.
