GulfBase Live Support
The non-oil trade exchange between the UAE and Brazil reached some $2.7 billion during 2016, said a report, noting that the bilateral trade between the two countries has maintained elevated levels during recent years.
The non-oil trade exchange between the UAE and Brazil reached some $2.7 billion during 2016.
In its report, which was issued today, on the review of the UAE’s trade policy with Brazil, the Ministry of Economy stressed that the bilateral trade between the two countries has maintained elevated levels during recent years, despite the economic slowdown of the Brazilian economy, reported Wam, the Emirates official news agency.
The ministry noted that meat and poultry products topped the list of exports and imports between both countries, as well as iron, aluminium, gold and precious metal crafts, and electric equipment.
The report further noted that the Brazilian economy suffered from a slowdown in its growth rates in 2015 and 2016, due to a severe economic recession in 2014, the worst in the country’s history. It added that Brazil’s annual Gross Domestic Product (GDP) rate decreased from 3 per cent in 2013 to 0.9 per cent in 2014, following several internal challenges that negatively affected investor confidence, while accompanied by a sharp increase in the rate of inflation, reaching 8.7 per cent in 2016, and an unemployment rate of 11.3 per cent during the same year.
The report also stated that Brazil is still open to foreign direct investments (FDI) and has succeeded in attracting FDI flows that averaged between 2 to 3.3 per cent of GDP, which covered the current account deficit from 2015 to 2016.
The decision this year of the International Maritime Organization (IMO), a specialized agency of the United Nations, to introduce new rules aimed at reducing the cap on the sulfur content of marine f
Faced with a financial crisis at home, Pakistan Prime Minister Imran Khan’s first visit to Saudi Arabia could provide a much needed boost to the country’s political and economic confidence, experts s
Oman’s central bank raised OMR30.40 million by way of allotting treasury bills on Tuesday.
The treasury bills are for a maturity period of 28 days, from Wednesday until October 17, 2018.
Times of Oman
The Abu Dhabi Executive Council’s Executive Committee has revealed the details of the business and investment encouragement tenet as part of the Abu Dhabi Government Accelerators Programme “Ghadan 21
The United Arab Emirates has achieved a new accomplishment in ICT global competitiveness by achieving advanced ranks in the Global Competitiveness Index, according to the results published recently b
The Gulf Today