Riyadh – President Jair Bolsonaro said this Tuesday (29) that Saudi Arabians “want to invest massively in Brazil.” Upon leaving his hotel in Riyadh, Saudi Arabia for lunch at a Brazilian-style barbecue restaurant, Bolsonaro said defense has been a mainstay of his talks with authorities.
“Defense, it’s the most important thing we’re dealing with. They want to invest massively in Brazil, [in] food security, among other [sectors],” he said. “Brazil is an ocean of opportunity.”
Saudi Arabia is implementing its Vision 2030 multiannual plan to liberalize and diversify the economy away from oil. Inquired whether Brazil will seize the opportunities offered by the Saudis, Bolsonaro responded affirmatively.
“We will take advantage [of this moment]. We’re here with Caio Megale [the Ministry of Economy’s secretary for Industrial Development, Trade, Services and Innovation], who’s an outstanding advisor to [Economy minister] Paulo Guedes. He’s participating in all these meetings. Brazil will not let this opportunity slip by,” he said.
As for business priorities with Saudi Arabia, he said there are many. “Everything’s a priority, everything’s important. Let’s get the show on the road, this is our chance. This is in the interest of everyone in Brazil, no matter who you voted for in the last [2018 presidential] election,” he said.
Asked by a reporter about the agenda for a meeting this afternoon with Saudi crown prince Mohammed Bin Salman, he said: “Anyone would like to spend an afternoon with the prince, especially you women, right? So, we’re having this opportunity today. We’ve had a certain affinity since our last meeting [at the G20 summit] in Osaka. I believe it will be a very fruitful afternoon.”
Bolsonaro has already been with the prince, over dinner on Monday evening (28). “Excellent [dinner], casual, [we discussed] some business stuff. We’re in great terms with Saudi Arabia,” he said.
This Tuesday, besides the meeting, Bolsonaro will attend a dinner reception offered by the prince to attendees of the Future Investment Initiative (FII), also known as “Davos in the Desert” – the moniker references the World Economic Forum, held annually in Switzerland.
The FII began this Tuesday. Bolsonaro’s slated to speak during the session “Return to prosperity: Can a new global investment environment put Brazil back in business?”
Before leaving the hotel, Brazil’s president had a meeting with Goldman, Sachs & Co. president John Waldron (pictured).
Agreements
In Riyadh, a cooperation agreement bewteen the Brazilian and Saudi public health authorities and a memorandum of understanding on visitor visas will be signed, and a cooperation program will be entered into by the Brazilian Trade and Investment Promotion Agency (Apex-Brasil) and the Saudi Arabian General Investment Authority (SAGIA).
The MoU will see multiple-entry visitor visa validity to Saudi Arabia increased from one to five years, and the related charge reduced to USD 80.
Saudi Arabia’s government recently introduced online and on-arrival visa application for tourists from 49 countries, and although Brazil isn’t one of them, the memorandum could be a step in that direction.
Translated by Gabriel Pomerancblum
