*Brazil’s President Luiz Inácio Lula da Silva has arrived in Egypt for talks with President Abdel Fattah el-Sisi which will include discussions of the growing trade ties between the two countries. According to a press release from the Brazilian presidency, Egypt is Brazil’s second-largest trading partner in Africa after Algeria. Bilateral trade between the two countries reached US$2.8bn in 2023, consisting of US$1.83bn in Brazilian exports to Egypt and US$489m in Egyptian exports to Brazil. Bilateral trade flows are expected to increase in the coming years after Egypt opened its markets to several Brazilian products in 2023, including fish, poultry, cotton, bananas, gelatine, and collagen. The statement added that Egypt is soon expected to approve new slaughterhouses in Brazil, boosting Brazilian beef exports. The next stop on Lula’s Africa tour is Ethiopia where he will attend an assembly of the heads of state of the African Union from 16-17 February.
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LatinNews Daily - 15 February 2024
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