In the first quarter of this year, financial institutions in the Gulf reported a net profit of USD 15.6 billion, 7.1% higher than in the previous quarter.
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The field is located in a partitioned region between the two countries and has a production capacity of over 500 barrels per day.
Companies Oriental Fruits, Mima Foods, Frozen Gate, Elswedy Food Industries, and Dalsa Food, which already sell to Brazil, are participating in the APAS Show in São Paulo to win more clients.
Ambassadors from the United Arab Emirates, Qatar, Kuwait, Morocco, and Bahrain discuss expanding bilateral partnerships with the state government and meet with local business leaders.
In a meeting at the Arab-Brazilian Chamber of Commerce, the Kuwaiti ambassador in Brasília, Talal Rashed Almansour, discussed with the institution’s executives the next steps of an agenda to promote trade and investment.
An International Monetary Fund report highlights the Gulf Cooperation Council nations’ strategies to increase the digital sector’s share of GDP and make it dominant in government services.
Overall, the Arab country imported fewer Brazilian goods in February, but there was growth in the acquisition of less traditional products.
Information from Ernst & Young indicates that the outlook is favorable for the banking sector in the Gulf Cooperation Council countries, which are benefiting from local economic diversification efforts.
In celebration of the National Day and bilateral relations, the ambassador of the Gulf country, Talal Rashed Almansour, says the two nations could expand economic cooperation.
Executives from the Arab-Brazilian Chamber of Commerce, companies from Brazil, and the Brazilian Embassy in Kuwait met with authorities and potential clients.
Estimates from the National Bank of Kuwait indicate expansion of the country’s non-oil GDP.
Among the top five destinations of the product’s exports, four are Gulf countries. The United Arab Emirates is the largest client.
In the full year tally for last year, the United Arab Emirates was the primary Arab destination of Brazilian shoes, followed by Libya and Lebanon. Iraq and Qatar were the only countries to increase their purchases.
The trade balance was boosted by a similar percentage increase in exports from both countries. Kuwait supplies mainly oil to the Brazilian market. Brazil exports chicken meat.
