The National Oil Company confirmed the end of the blockade that hindered the normal production and export of Libyan oil. The insecurity of supply affected international oil prices.
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Commodity sees price increase of up to 3% on Monday (26) due to news on oil production and export.
Iron ore, chicken, beef, sugars, and coffee were the top export from Brazil to the North African country in the first half of the year.
Brazilian president had a meeting with Chairman of the Libyan Presidential Council Mohammad Al-Manfi on Sunday (18) before returning from Ethiopia to Brazil.
There was a 10.8% drop in revenue and a 16.6% decrease in volume from 2022, according to sector association data. In December, Libya imported USD 730,000.
The IMF mission anticipates normalization of growth one year after the strong performance resulting from the World Cup and estimates that the country’s economy could grow by 5%.
First edition of BFSHOW in Porto Alegre will feature importers from across 29 countries, including Egypt, the United Arab Emirates, Kuwait, and Libya.
Lyba’s ambassador to Brasília, Osama Sawan, visited the headquarters of the Arab-Brazilian Chamber together with Libyan Iron & Steel Company chairman Mohamed Abdulmalek.
A Brazil Africa Institute program is set to get funding from the UAE’s International Cooperation Ministry for training youth to work in healthcare and agriculture.
People who want to aid Libyans affected by the heavy rains and floods this month can donate to the Arab Brazilian Chamber of Commerce campaign. Medicines and food purchased with the funds will be sent to the country through a Brazilian government agency.
The federal government issued a statement conveying its solidarity to the families of the victims from the storm in Libya. The death toll stands at 5,000. The Arab-Brazilian Chamber conveyed its solidarity, too.
The Arab Brazilian Chamber organized the companies’ participation and over 1,000 business meetings, helping generate millions in business over the next 12 months.
Libyan executives arrived in the country aiming to close deals and make new contacts. Among them are businesspeople from a food importing group and Tripoli Chamber of Commerce executives.
Tripoli-based authorities had meetings last week with Brazil Africa Institute president João Bosco Monte and expressed the desire to revive the relations their country once had with Brazil.
