Brazil signs new sales agreements with Australia and Costa Rica

Brazil signs new sales agreements with Australia and Costa Rica

The Ministry of Agriculture and Livestock of Brazil reported that the government of Australia has approved the importation of fish from Brazil. Additionally, it confirmed that the government of Costa Rica has given its approval for the entry of products based on mesenchymal stem cells for therapeutic purposes.

These two newly opened markets add to another 11 that have been accessible so far this year, bringing the total to 91 since the beginning of last year.

The ministry expressed that these new opportunities should contribute to the increase in trade flows with these two crucial markets while reinforcing international confidence in Brazil’s sanitary control system.

In the statement, Costa Rica was highlighted as a strategic destination for Brazilian agricultural products, which reached a total of US$ 272 million in exports during 2023. Among the main items are cereals, flour and derivatives, forestry products, as well as soybean complex products. In January alone this year, agricultural exports to Costa Rica amounted to approximately US$ 30 million.

Regarding Australia, in 2023, Brazil exported agricultural products worth US$ 293 million, including coffee, forestry products, animal-origin goods, and juices, which accounted for 74% of total Brazilian agricultural sales to that country. So far in 2024, agricultural product exports to the Australian market have exceeded US$ 24 million.

Brazil’s GDP has seen fluctuations due to factors like commodity prices, domestic consumption, infrastructure development, government policies, and global economic conditions. Its rich natural resources, coupled with a growing middle class and investments in infrastructure, have contributed to economic growth.

Brazil’s participation in the BRICS group has facilitated cooperation among emerging economies, leading to increased trade and influence in global governance structures.

While Brazil’s economic structure differs from other BRICS countries, its engagement in initiatives like the BRICS group reflects its commitment to fostering development and cooperation on the global stage.

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ABOUT THE AUTHOR See More
Gabriel Micillo
Gabriel is a certified public accountant graduated from UNNE (National University of the Northeast, Argentina) and a software developer, currently pursuing a Master's degree in Finance and Economics. With nearly 8 years of experience working for accounting firms and brokerage firms. Concurrently, he has produced economic and financial reports on the current state of regional economies for the clients of the establishments where he has worked. Additionally, he assisted colleagues like Ignacio Teson in the drafting and editing of articles on similar topics in English language.
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