The 2nd Brazil-Africa Dialogue on Food Security, Fight Against Hunger, and Rural Development resumes after 15 years, gathering representatives from African countries in Brasília.
Browsing: Libya
According to the Libyan ambassador in Brasília, Osama Ibrahim Ayad Sawan, cooperation, the strength of the trade balance, and food security were the reasons for his country to exempt Brazil from a new import tax announced.
The Libyan Government of National Unity announced selective implementation of a tax on consumption to be levied on imports of items alternatives to which are locally made or whose imports exceed domestic demand. Goods from Brazil will be exempt.
A disruption in oil exports impacted the Arab country’s growth last year, but GDP is expected to benefit from the sector’s expansion in 2025, according to the IMF. Libyans are currently producing nearly 1.4 million barrels per day.
Growth was recorded in the first two months of the year compared to the same period in 2024.
In January of this year, USD 60.2 million were exported, mainly in beef, chicken, and sugar.
Achieving high levels of productivity is one of the goals of the National Oil Corporation, according to recent discussions held at the company.
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 Brazilian brand has footwear starting to arrive in Arab countries such as Kuwait, Egypt, and the UAE, in addition to established sales in Saudi Arabia, Oman, Jordan, Libya, and Sudan. Opananken makes an Arab sandal specially developed for the region.
The Libyan market imported 1.6 million tonnes of iron ore from Brazil from January to October, a 60% increase compared to the same period last year. It is the largest volume in the current decade.
The National Oil Company confirmed the end of the blockade that hindered the normal production and export of Libyan oil. The insecurity of supply affected international oil prices.
Commodity sees price increase of up to 3% on Monday (26) due to news on oil production and export.
Iron ore, chicken, beef, sugars, and coffee were the top export from Brazil to the North African country in the first half of the year.
Brazilian president had a meeting with Chairman of the Libyan Presidential Council Mohammad Al-Manfi on Sunday (18) before returning from Ethiopia to Brazil.
