The “Why Brazil?” event will showcase opportunities between the two countries, featuring presentations and meetings with entrepreneurs.
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Representatives from the Arab country visited São Paulo in search of business opportunities and partnerships with Brazilian firms.
The event, hosted by the Brazilian embassy, was held at a hotel in the Gulf country’s capital, Muscat, and brought together local politicians and business representatives.
In the first quarter of this year, financial institutions in the Gulf reported a net profit of USD 15.6 billion, 7.1% higher than in the previous quarter.
Lawyer Marcelo Lucas writes an article about the Arab country as an investment destination, its benefits, and economic environment. With offices in Dubai and Riyadh, he will lead a delegation of Brazilian businesspeople to Oman next weekend.
The Ministry of Commerce, Industry and Investment Promotion presented economic data for 2024, including commercial registrations and foreign direct investment, both of which rose.
Executives from the Arab-Brazilian Chamber of Commerce met with the Oman Chamber of Commerce and Industry, discussed advancements in the partnership between the two institutions, and explored ways to increase trade between the two countries.
The International Monetary Fund (IMF) reports that the country has adopted economic measures that foster growth beyond the oil sector.
The Import Price Index fell in the second quarter of this year. Oman purchased products from abroad at lower prices, including fuels and lubricants, machinery and equipment, as well as vegetable and animal oils.
Talal Sulaiman Al Rahbi was awarded a commendation by the Brazilian Academy of Honors for Merits at an event held at the Chamber of Deputies auditorium on Thursday (12). He mentioned that the moment is particularly timely as Brazil and Oman celebrate 50 years of diplomatic relations and that he is working to increase investment flows between the two countries.
Arab country grossed OMF 6.2 billion in revenue in the second quarter of 2024, most of which, i.e., OMR 3.4 billion, coming from the oil sector.
A delegation from Brazil’s agriculture ministry received from Oman’s government the sanitary approval and authorization for Brazilian exports of live cattle to the Arab country.
The Arab country is projected to grow 1.3% in 2023 and 1.4% this year, supported by favorable oil prices and reforms. Agriculture, construction, and services are driving the Omani economy.
The oil production cuts are expected to make the Gulf country grow less this year compared to 2022. Still, GDP is projected to increase by 1.3%. Inflation has receded, and reforms favor economic recovery.
