Brazil seeks to boost trade with Arab nations
The Brazil-Arab Nation Forum, a two-day summit bringing together business and political leaders seeking to boost trade, has opened Tuesday, July 24 in Rio de Janeiro. According to AFPBrazil has a sizable trade deficit with Arab nations, having exported $1.8 billion in goods in 2000, while it imported goods and services worth $3.2 billion. With Algeria alone, there was a billion-dollar deficit.
In the first quarter of the year 2001 Brazil exported $534.7 million worth of goods to 20 Middle East and North Africa (MENA) countries. Saudi Arabia and the UAE are the Brazil’s major Arab markets with exports of $149.3 million and $119.5 million respectively in the first three months of 2001. According to Kader Trade Consulting, in the main Arab countries imports from Brazil are currently limited to chicken, meat, steel, coffee, sugar, paper and auto parts.
With 165 million inhabitants, Brazil is the largest country in South America ― (MENA Report)
© 2001 Mena Report (www.menareport.com)