Executives from the Arab-Brazilian Chamber of Commerce, companies from Brazil, and the Brazilian Embassy in Kuwait met with authorities and potential clients.
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The Brazilian Minister of Finance discussed his country’s economy during his speech at the IMF conference in Saudi Arabia, where he also held meetings with local ministers to discuss investments, trade, and cooperation.
Data from the trade balance in the sector shows a surplus equivalent to USD 435 million.
Brazil’s corn exports to Egypt alone grossed USD 1.1 billion in 2024.
In a phone conversation, the two heads of state also discussed the fight against hunger and the visit of the Arab country’s leader to Brazil later this year.
The trade balance was boosted by a similar percentage increase in exports from both countries. Kuwait supplies mainly oil to the Brazilian market. Brazil exports chicken meat.
President Lula said during the Mercosur Summit in Montevideo that negotiations with the Arab country are progressing rapidly and are expected to be concluded by next year.
Emad Orfaly has been in São Paulo for a month. During a visit to the Arab-Brazilian Chamber of Commerce, he discussed opportunities to expand and diversify trade between the two countries.
A dinner in Brazil’s capital brought together politicians and officials. In his speech, the UAE Ambassador to Brazil, Saleh Alsuwaidi, noted that his country is home to 13,000 Brazilians.
The government has reduced or lifted tariffs on items including cancer drugs, wind turbine blades, tires, and pesticides.
Saudi Arabia has opened its market to flower imports from Brazil, but sales to Arab countries must overcome distance and cost challenges, says director of Ibraflor.
Speeches and discussions reaffirm the need to strengthen and integrate trade exchanges. The UAE minister participated in a panel. The vice president of Brazil delivered a speech.
Brazil’s year-to-date exports to the Middle East and North Africa grossed USD 17.7 billion through September, up 25% from the same period last year. The performance is on track for a new record.
A major exporter of oil and gas, the Arab country recorded a trade surplus. Top imports were mineral products and machinery.
