Year to date, the North African country’s trade balance shows a negative deficit equivalent to USD 3.4 billion. Exports recorded a slight decline.
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The data refer to May and the year-to-date total, according to information from Abimaq.
The country needs to increase its purchases of the product on the international market. The federation is meeting with potential trade partners also in search of frozen beef.
Brazilian companies increased their exports to the Arab country last month. The leading products shipped were sugar and meat.
Brazil’s trade flow with the Arab country is based on food and fuels. Despite a 5.4% decline in trade over the first five months of the year, it grew last month.
The Secretary-General of Brazil’s Foreign Ministry met with the ambassador of the Arab country to Brazil to receive copies of his letters of credence.
An event held by the Arab-Brazilian Chamber presented the results since the free trade agreement came into effect, as well as its untapped potential and the challenges ahead.
The Arab African country recorded a decline in its economic activity in 2024 due to reductions in exports, imports, and lower credit lending.
The event will take place from Monday (19) to Wednesday (21) in the city of São Paulo. Around 10,000 buyers are expected, including importers from Saudi Arabia, the United Arab Emirates, Libya, and Kuwait.
Experts from the São Paulo Supermarket Association say the presence of imported products has grown in Brazilian stores and that the organization is working to facilitate their entry. A survey shows that Brazilian consumers are changing habits due to climate change.
According to the Libyan ambassador in Brasília, Osama Ibrahim Ayad Sawan, cooperation, the strength of the trade balance, and food security were the reasons for his country to exempt Brazil from a new import tax announced.
A delegation from the Unaizah Chamber of Commerce and Industry carried out a series of appointments in the state of São Paulo earlier this week. In a meeting at the Arab-Brazilian Chamber headquarters on Thursday, leaders discussed mutual support for the export of Saudi dates to Brazil and the sale of Brazilian products to Saudi Arabia.
According to the port management company Mwani, 247 vessels docked in the country in March, marking a 9% increase compared to February. The volume of building materials alone saw an 118% surge in activity.
Last year, the Arab nation grossed USD 37.9 million from glass and glass product exports to Brazil. The Egyptians moved from being the 10th largest exporter to the Latin American country in 2023 to the fourth in 2024.
