Economies in the region are headed for a slowdown this year, driven by high inflation and the conflict in Sudan. Growth will decrease from last year’s 5.3% to 3.1% in 2023.
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According to the IMF, products such as food have been strongly impacted by inflation in the Middle East and North Africa region.
Bader Alhelaibi was welcomed at the Federation of Business Associations of Santa Catarina by its chairman Sérgio Rodrigues Alves and congresswoman Caroline De Toni. The meeting with businesspeople aimed at strengthening trade relations between the Arab country and the state.
The companies that participated in the show in Dubai through a partnership between ABPA and ApexBrasil made sales of USD 50 million in loco and are expected to make exports at an even higher value over the next twelve months.
The amount was sent to the Middle East and North Africa in the last fiscal year, which ended in June 2021. The goal is supporting these nations in the fight against COVID-19.
Wheat exports from Brazil to the Arab bloc fetched USD 26.78 million in the first month of 2021. The product’s consumption in Arab countries is expected to grow by 2.5% a year.
Amid the pandemic, the International Monetary Fund expects the Middle East and North Africa to attain an economic growth, revising its previous forecast of 2.2%.
The Annual Investment Meeting (AIM) is inviting Brazilian agribusiness companies interested in branching out to join a program slated for next November.
MENA accounted for 20% of total portfolio flows to emerging financial markets from 2016-2018.
