On Tuesday (14), the Committee on the Constitution and Justice and Citizenship approved the Agreement of Economic Cooperation between the member-countries of Mercosul and the ones of the Cooperation Council of the Arab States of the Gulf.

Saudi Arabia, the United Arab Emirates, Bahrain, Oman, Qatar and Kuwait are part of that council. That group is the second largest net importer of food in the world, and the objective of the agreement is to establish the free commerce between the two groups in the future.

The text is part of the Legislative-Decree Bill 1104/08, of the Brazilian Representation at Mercosul Parliament. Deputy José Genoíno (PT-SP) reviewed the bill – according to the constitutional, legal and legislative technique standpoints – and recommended its approval.

Commercial interchange
The commercial exchange between Mercosul and the Countries of the Gulf region was US$5.4 billion in 2007. The Brazilian exports to that group increased 9% if compared to 2006, and reached US$3.2 billion.
The main products exported by Brazil are chicken, sugar, iron and machines. The main imported products are crude oils and petrochemical products.

Procedure
The bill is urgent and will be voted by the House Floor.

Report - Vania Alves
Editing - Newton Araújo
Translation - Positive Idiomas Ltda