Brazil deposited an instrument ratifying the Free Trade Agreement between Palestine and Mercosur on July 3, causing the treaty to come into effect between the two countries within 30 days. Brazil’s Foreign Ministry says the agreement is a tangible contribution towards an economically sound Palestinian state.
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This is part of the previously approved program size of USD 1.2 billion to help the country face medium-term balance of payments problems.
Mauro Vieira met with Saudi Arabia’s foreign minister Faisal bin Farhan on the sidelines of the BRICS meeting.
According to the IMF, recovery was supported by the 2022 peace agreement in Ethiopia, which generated a significant expansion in port activities, train traffic, construction, and energy production.
Group of businessmen will go to APAS Show and have appointments in São Paulo. The Hebron Chamber of Commerce and Industry signed a memorandum of understanding with the Arab-Brazilian Chamber during an event.
Exports surpassed imports by USD 8.67 billion in 2023. Last year saw shipments to Arab countries increase by 9.2% and imports decrease by 28.9%. The main Brazilian export was sugar, and the leading Arab import was oil.
The event will be held on October 31 and November 1 in the capital of São Paulo, featuring lectures by Brazilian and African countries heads and business roundtables.
Exports declined by 0.3% last month, but the surplus was up 5.5% as imports fell more.
The Ministry of Development, Industry, Trade and Services expects the 2023 Brazilian trade balance to post the highest surplus ever due to the declining prices of leading imports.
The Commercial Section of the Embassy of Brazil in Cairo has a new head, Fernando Bastos. He visited the headquarters of the Arab Brazilian Chamber of Commerce in the Egyptian capital to discuss joint cooperation actions for Brazil-Egypt trade.
According to Saudi Arabia’s official news agency, facilitating passenger travel between the two countries is also a goal.
Executives from the two institutions discussed how to cooperate to boost Egypt-Brazil trade.
National US-Arab Chamber of Commerce president David Hamod and Algeria’s Industry Ministry secretary-general Belabrik Salah Eddine met during a special session in the Economic Forum Brazil & Arab Countries.
The potential for a more strategic relationship is significant, emphasized Khaled Hanafy, secretary-general of the Union of Arab Chambers at the Economic Forum Brazil & Arab Countries. In a panel, executives from the Chambers of Oman, Bahrain, and Jordan spoke on the future of this connection.
