An International Monetary Fund report highlights the Gulf Cooperation Council nations’ strategies to increase the digital sector’s share of GDP and make it dominant in government services.
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Information from Ernst & Young indicates that the outlook is favorable for the banking sector in the Gulf Cooperation Council countries, which are benefiting from local economic diversification efforts.
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.
In 2024, Brazil exported USD 23.68 billion and imported USD 10.18 billion from the Arab countries. The trade flow reached USD 33.87 billion, with a trade balance surplus of USD 13.49 billion.
The Arab-Brazilian Chamber has announced the balance of the Halal do Brasil project, through which, together with ApexBrasil, it promotes Brazilian halal products in Muslim-majority markets. A total of 124 companies have been supported by the program, and the number of countries reached is increasing.
The International Monetary Fund (IMF) reports that the country has adopted economic measures that foster growth beyond the oil sector.
The company signed an agreement for land reservation with the Royal Commission for Jubail and Yanbu. The project aims to establish a mega hub in the industrial city of Ras Al Khair.
Ankaa Space and Technology will establish the country’s first center for the development of drones and robots focused on agriculture, housing, and urban planning.
The World Economic Forum has signed an agreement to establish one of its Fourth Industrial Revolution centers, called C4IR, in Oman. It will be the sixth of its kind in the Middle East and the 22nd globally.
The Brazilian brand has footwear starting to arrive in Arab countries such as Kuwait, Egypt, and the UAE, in addition to established sales in Saudi Arabia, Oman, Jordan, Libya, and Sudan. Opananken makes an Arab sandal specially developed for the region.
Oman’s Youth Center signed an agreement with Sohar Free Zone and Sohar Port to support the development of local young talents.
Brazilian brands are standing out worldwide and are beginning to gain popularity among consumers in Arab countries. Saudi Arabia is already the fifth-largest destination for Brazilian chocolate exports, and other markets in the region, such as the UAE, Qatar, Kuwait, Oman, and Bahrain, also have fans of national chocolate.
The Arab country celebrates the date in Brasília, and the ambassador highlights recent activities that have fostered diplomatic and commercial rapprochement with Brazil.
A delegation from Ladayn Polymer Park is currently in São Paulo to present benefits to businesses in Brazil and invite them to manufacture plastic products out of Oman using local raw materials. The delegates were welcomed at the Arab Chamber this Monday (18).
