Brazil and Egypt Advance Partnership Agreements

ebc.com.br reported on May 8, 2013, President of Brazil Dilema Rousseff and President of Egypt, Mursi Mouhamed will sign seven documents pertaining to technical, agricultural, social and cultural concerns. Both presidents have reached a cooperative level of agreement as well, to establish a partnership on environmental and health-related issues. In Brazil until May 9, President Mursi’s objective is to learn about the successful income transfer programs in Brazil which have worked to reduce poverty and hunger as well as increase employment opportunities. After the removal of former President Hosni Mubarak in 2011, Egypt has experienced political, social, and economic turmoil as 60% of young adults have called for more employment opportunities and better living conditions. The Egyptian government has attempted to manage the decrease in revenue by reducing tourism and foreign investment. President Mursi aims to increase bilateral trade with Brazil as economic relations have significantly increased over the past two years. Trade has increased by 38% and trade volume grew from U.S. $410 billion to $2.96 billion from 2002-2012. Read Article