Latest news with #GeraldoAlckmin
Zawya
a day ago
- Business
- Zawya
Nigeria, Brazil sign $1bln deal to boost agriculture and food security
Nigeria and Brazil have signed a $1bn agreement focused on strengthening agriculture and food security in Nigeria. The partnership will deploy mechanised farming equipment, training programmes, and service centres to help transform Nigeria's largely subsistence agricultural sector. A drone view shows ships and containers at the Port of Santos, in Santos, Brazil April 3, 2025. Much farming in Nigeria is subsistence, and land is owned by families or individuals, which makes large-scale acquisition problematic. Nigeria also imports food for its 200 million-plus population. 'We are moving from subsistence to scale in agriculture, and in energy, we are taking long-overdue steps to attract serious investment into gas production, refining, and renewables,' says Kasim Shettima, vice president of the Federal Republic of Nigeria The agreements were signed in Abuja during a visit by Brazil's vice president, Geraldo Alckmin, to Africa's most populous nation. Shettima told his Brazilian counterpart that reforms embarked upon by President Bola Tinubu have helped reshape Nigeria's economy. Nigeria is targeting a $1t economy by 2030, with reforms to agriculture, energy, education, and public finance. The country has also asked banks to recapitalise to attract foreign investments.
Business Insider
3 days ago
- Business
- Business Insider
Nigeria and Brazil ink $1 billion deal to transform agriculture sector
Nigeria and Brazil have signed a $1 billion agreement aimed at boosting agriculture, food security, energy, and defence in Nigeria, according to Vice President Kashim Shettima. Nigeria and Brazil have signed a $1 billion agreement to enhance agriculture, energy, and defense in Nigeria. The partnership includes deploying mechanized farming equipment and establishing service centers across Nigeria. This initiative aims to transition Nigeria's agriculture sector from subsistence-based to large-scale farming. Nigeria and Brazil have signed a $1 billion agreement aimed at boosting agriculture, food security, energy, and defence in Nigeria, according to Vice President Kashim Shettima. Speaking on Tuesday during the opening session of the 2nd Nigeria–Brazil Strategic Dialogue Mechanism (SDM) at the Presidential Villa, Abuja, he said the partnership will see both countries deploy over $1 billion to provide mechanised farming equipment, training, and service centres across Nigeria. 'Brazil and Nigeria are not bound by geography, but by a shared dream. Two large, diverse democracies. Two economies with immense natural and human capital. Two nations with the right to dream and the ability to build, ' the Nigerian Vice President noted. The move is part of a broader push to transform Nigeria's largely subsistence-based agriculture sector. Despite its vast arable land, Nigeria still relies heavily on food imports to feed its population of over 200 million. 'We are moving from subsistence to scale in agriculture, and in energy, we are taking long-overdue steps to attract serious investment into gas production, refining, and renewables,' 'This project will create jobs, raise productivity, and help secure Nigeria's ambition to feed itself and others. The Green Imperative is a flagship of this partnership, and one we are determined to deliver, ' he said. The agreements were signed in Abuja during the official visit of Brazil's Vice President, Geraldo Alckmin, to Africa's most populous country. The Vice President explained that Nigeria is laying the foundation for a one trillion-dollar economy by 2030, with reforms spanning agriculture, energy, education, and public finance. Brazil's Vice President, Geraldo Alckmin, emphasized that the growing partnership between Brazil and Nigeria is built on mutual values and focuses on delivering real, impactful results. 'It's a great pleasure to see the significant progress we've made across multiple areas of cooperation,' he stated.
Reuters
13-03-2025
- Business
- Reuters
Brazil trade chamber OKs import tax cuts on more food products
BRASILIA, March 13 (Reuters) - Brazil's trade chamber, known as Camex, has agreed to eliminate import taxes on certain products to curb food inflation, it said in a statement on Thursday. The decision was unanimous, Brazilian Vice President Geraldo Alckmin, who also serves as trade, industry and development minister, told reporters in Brasilia. "These are emergency measures to reduce taxes, to reduce food costs and to help, at this exceptional time, to reduce inflation, especially food inflation," Alckmin said, after the government rolled out similar cuts last week. The measures will take effect on Friday and will continue for as long as necessary to reduce food prices, he said. Alckmin said the estimated cost of the exemptions, if they last for one year, is 650 million reais ($112.07 million), though he expects their duration to be shorter. The import tax exemptions apply to foodstuffs such as boneless beef products, roasted coffee, coffee beans, corn, olive oil, sugar, cookies, pasta and sardines. The trade chamber falls under Alckmin's ministry and handles the government's trade policies and guidelines. ($1 = 5.8001 reais)
Japan Times
13-03-2025
- Business
- Japan Times
Japan embassy in Brazil holds Osaka Expo promotional event
Brasilia – The Japanese Embassy in Brazil hosted Wednesday an event promoting this year's World Exposition scheduled to begin in Osaka on April 13. The tourism promotion event at the Japanese ambassador's official residence in Brasilia comes as this year marks the 130th anniversary of the establishment of diplomatic relations between the two countries. Ana Repezza of the Brazilian Trade and Investment Promotion Agency touted the exterior and interior designs of her country's pavilion at the Expo. She said the Brazilian pavilion is themed on creating a brighter future by showing the symbiosis of humanity, forests and animals. She expressed hope that visitors would discover a new Brazil. The Brazilian government is considering sending Vice President Geraldo Alckmin to the Expo on June 21, designated as Brazil's national day for the event. Starting in September 2023, Japan waived visa requirements for Brazilians on short-term stays in the country for tourism purposes. This has helped push up the estimated number of Brazilians visiting Japan to a record high of over 80,000 last year. "Relations between Japan and Brazil have become stronger in recent years," Japanese Ambassador to Brazil Teiji Hayashi said. The tourism promotion event also featured Japanese sake and noh Japanese classical performing art. Brazilian President Luiz Inacio Lula da Silva is slated to make a state visit to Japan later this month, while Princess Kako, the second daughter of Crown Prince Akishino and Crown Princess Kiko, is scheduled to make an official visit to Brazil in early June.
Yahoo
07-03-2025
- Business
- Yahoo
Brazil to scrap import taxes on 'essential' items, including coffee
Brazil's government has decided to eliminate import taxes on food and beverage products considered essential to reduce prices. The list of products includes coffee, olive oil, sugar, corn, sunflower oil, sardines, cookies, pasta and meat. The announcement was made by the country's vice president Geraldo Alckmin, also minister for industry and trade, after a meeting led by President Lula with the ministers of agriculture, agrarian development, finance and other government departments. Alckmin said: 'These are measures to reduce prices, to benefit citizens so that they can maintain their purchasing power and have their basic food basket at a better price. 'This also ends up stimulating the production and commerce sectors. All of these are initiatives, from the regulatory measures to the tax ones, in which the government is failing to collect revenue, giving up taxes to favour price reductions.' The import tax rates Brazil charges on the food items vary between 7.2% (corn), 9% (coffee) and 32% (sardines). The move also includes raising the import quota for palm oil from 60,000 to 150,000 metric tons. The Brazilian government is also looking to make changes to its inspection rules. The move would extend of the jurisdiction of Brazil's Municipal Inspection Service to a national level. The SIM (Serviço de Inspeção Municipal) is a regional food safety inspection and regulatory body, which inspects and regulates animal products. Items processed under SIM standards are only allowed to be sold within the borders of a city or a town. Under the plans, its remit will be expanded to the national level and enable products already been certified at a local level to be sold nationwide. The measure includes items such as liquid milk, honey and eggs. Minister Carlos Fávaro, Brazil's minister of agriculture and livestock, said the changes would provide more opportunities for the country's farmers. He said: 'For one year, we will apply the effects of the SIM to the entire Brazilian territory. To those products that are cleared of being at risk of potential health problems – without any loss in food quality (…)'. Meanwhile, the Brazilian government is also looking to boost the domestic production of basic food items. According to a government statement, the National Supply Company (Conab) will invest in the formation of 'regulatory stocks'. Paulo Teixeira, minister of agrarian development and family agriculture, said: 'We will have a set of products that will be subsidised to offer to Brazilian society, focusing on the basic food basket.' "Brazil to scrap import taxes on 'essential' items, including coffee" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
