Trade Increases between Brazil and the Gulf Region

Brazil investment property

Brazil investment property

The Brazilian Trade and Investment Promotion Agency (Apex-Brasil) recently led a trade mission to the Middle East to Dubai, Doha and Riyadh, and this resulted in more than $65 million worth of deals either already agreed or due to be finalised in the coming year.

 

The deals involve companies from the UAE, Oman, Bahrain, Qatar, Saudi Arabia, Kuwait, Lebanon and Jordan. The majority of the deals made between Brazil and companies in the Gulf region were in the UAE region and were worth around $29.8 million.

Business meetings in Doha and Riyadh generated business worth $16.5 million for companies from Brazil. It was a very successful trade mission as there were no less than 503 matchmaking meetings with 232 buyers from the Middle East and Levant regions.

There are also a number of memoranda of understanding which were signed by Apex-Brasil with Dubai Media City, Dubai Foreign Direct Investment and Dubai Export Development Corporation. According to the president of Apex-Brasil, these agreements demonstrate the dynamic relationship between the countries, particularly in areas of investment and trade. These agreements also underline the willingness between key institutions to explore new ways of fostering mutual growth and economic cooperation.

Brazil has good trade relations with a number of countries throughout the world, and although the European Union and the US remain two of its largest trading partners, it also trades with other South American countries, Canada and China. Last year it economy grew at 2.7%, but is predicted to grow more than 5% this year due to government stimulus measures. These measures have already begun, as interest rates have been cut since last August in order to shore up demand in the face of a deteriorating world economy. Try trading on https://option500.com platform on the newest cryptocurrencies today.

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