{"id":329045,"date":"2023-05-05T12:02:42","date_gmt":"2023-05-05T15:02:42","guid":{"rendered":"https:\/\/anba.com.br\/?p=329045"},"modified":"2023-05-08T15:01:02","modified_gmt":"2023-05-08T18:01:02","slug":"brazils-congress-approves-agreement-with-uae","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/brazils-congress-approves-agreement-with-uae\/","title":{"rendered":"Brazil\u2019s Congress approves agreement with UAE"},"content":{"rendered":"<p>S\u00e3o Paulo \u2013 Brazil\u2019s National Congress approved on Thursday (4) the <strong>Cooperation and Facilitation Investment Agreement (CFIA)<\/strong> between Brazil and the <strong>United Arab Emirates<\/strong>. It was signed in 2019 but still had to be appreciated by the Congress and will now go to Brazil\u2019s president to sign it into law.<\/p>\n<p>In a statement from the Ministry of Development, Industry, Foreign Trade and Services, Foreign Trade Chamber (CAMEX) executive secretary Marcela Carvalho was quoted as saying that the agreement is important for <strong>attracting foreign investments<\/strong> to Brazil, thus creating jobs and opportunities for the workers in the country.<\/p>\n<p>\u201cWe know there\u2019s a huge potential to receive investments from the UAE, particularly in infrastructure, as the <strong>UAE\u2019s sovereign funds<\/strong> own assets worth over USD 1 billion,\u201d Carvalho was quoted as saying.<\/p>\n<p>One of the new things of the agreement is the creation of an \u201cInvestments Ombudsman\u201d, a position established by CAMEX. They will be tasked with supporting investors and preventing controversies. According to CAMEX, the evolution of the stock of foreign direct investment from the UAE in Brazil has grown significantly since 2015, from USD 115 million to USD 1.2 trillion in 2018.<\/p>\n<p><strong>What is the CFIA?<\/strong><\/p>\n<p>The model of the Cooperation and Facilitation Investment Agreement was created by Brazil based on a consultation with the private sector focusing on improving the business environment by enhancing the institutional governance, adopting risk mitigation mechanisms and preventing controversies, as well as developing agendas on topics of interest for the countries in investment cooperation and facilitation.<\/p>\n<p><strong>Translated by Guilherme Miranda <\/strong><\/p>\n<div class=\"credits-overlay\" data-target=\".wp-image-329048\">Washington Costa\/MDIC<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Brazilian legislative power approved the Cooperation and Facilitation Investment Agreement (CFIA) signed between the two countries in 2019. The document will now be forwarded to Brazil\u2019s president to sign it into law.<\/p>\n","protected":false},"author":2316,"featured_media":329048,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91,106],"tags":[19607,41480,41481,41483,3805,41482],"class_list":{"0":"post-329045","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"category-foreign-affairs","9":"tag-brazil-uae","10":"tag-brazil-uae-agreement","11":"tag-brazil-uae-investments","12":"tag-marcela-carvalho-en","13":"tag-national-congress","14":"tag-uae-marcela-carvalho"},"wps_subtitle":"The Brazilian legislative power approved the Cooperation and Facilitation Investment Agreement (CFIA) signed between the two countries in 2019. The document will now be forwarded to Brazil\u2019s president to sign it into law.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/329045","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2316"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=329045"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/329045\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/329048"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=329045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=329045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=329045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}