Imagine the potential of a dynamic partnership between Saudi Arabia and Brazil. This vision is becoming a reality as the Saudi government contemplates establishing an office of its Investment Ministry in Sao Paulo. The goal? To enhance trade and business ties with Brazil, unlocking new opportunities for growth and collaboration.
Building Bridges at the Brazil Saudi Arabia Conference
Recently, the Brazil Saudi Arabia Conference served as a pivotal platform for fostering this bilateral relationship. The event attracted a delegation of approximately 70 Brazilian business leaders and officials, including Saudi Deputy Investment Minister Ibrahim Al-Mubarak and Waleed Al-Rubaie, the executive director of the ministry. The conference also featured a visit to the Saudi Public Investment Fund, highlighting the commitment to mutual economic interests.
Joao Doria Neto, president of the business group LIDE, emphasized the strength of the commercial bond between the two nations. He noted the abundance of opportunities for successful partnerships, as evidenced by the $6.7 billion in bilateral trade achieved last year. “We were able to uncover numerous possibilities for bilateral business,” he remarked, underscoring the conference’s success in bridging new ventures.
A Vision for Future Collaborations
The potential for collaboration extends beyond traditional sectors. Embraer Vice President Caetano Spuldaro, part of the Brazilian delegation, envisions Saudi Arabia as a strategic hub for his aviation company in the Middle East. Discussions are underway for the sale of 30-50 C-390 defense aircraft to the Saudi Royal Air Force, showcasing the depth of industrial cooperation on the horizon.
As the delegation prepares to continue its journey to the UAE for the Brazil Emirates Conference, the enthusiasm is palpable. Former Brazilian President Michel Temer and Emirati Minister for Foreign Trade Thani Al-Zeyoudi are among the prominent speakers expected to further strengthen these ties.
Strengthening Trade Relations
Rodrigo Paiva, president of LIDE in the UAE, expressed excitement over the success of the LIDE roadshow in the Middle East. “Businesses are being initiated, and we’re strengthening trade relations between Brazil and the Middle East,” he stated, highlighting the positive momentum generated by these engagements.
As this mission concludes on Friday, the foundation for a prosperous and collaborative future between Saudi Arabia and Brazil is firmly laid, promising a wealth of opportunities for investors and businesses alike.
