São Paulo – This Friday (15), the bill for creating the Brazil–Bahrain Parliamentary Group, approved by the Brazilian Senate last week, was promulgated. The project was authored by Senator Marcos do Val (Podemos, Espírito Santo) and had Nelsinho Trad (PSD, Mato Grosso do Sul) as rapporteur. Bahrain is an Arab country in the Middle East with which Brazil maintains increasingly close relations.
When celebrating the approval last week, Marcos do Val published on his website trade between the countries and Bahrain‘s investments in Brazil could expand. He said the two economies are complementary, there is potential for increasing bilateral exchange, and the parliamentary group’s activities will converge efforts and stimulate discussions on topics of common interest.
According to the senator, who authored the proposal, the group could promote forums, seminars, and studies in the technological, scientific, economic, financial, and cultural fields, aiming at developing bilateral ties, which have been expanding in recent years. Do Val said he hopes the parliamentary group’s approval will bring more Bahraini investment to Brazil, which could generate jobs.
On his website, Senator Nelsinho Trad justified the implementation of the project by the importance of bilateral relations and the confluence of economic interests between the two countries. He recalled trade with Bahrain has generated a surplus for Brazil and said parliamentary groups facilitate the exchange of experiences between the legislative powers of each country. Late last year, Brazil opened its embassy in Manama, Bahrain, with the presence of President Jair Bolsonaro.
In 2021, Brazil and Bahrain had a trade flow of USD 2.1 billion, a 178% increase over 2020. Most – USD 1.9 billion – was Brazilian exports, especially iron ore. In smaller volumes, Brazil also sold products such as poultry protein, artificial corundum, petroleum coke, hollow tubes and profiles, and beef to Bahrain. Bahrain’s exports to Brazil amounted to USD 277 million in 2021, especially in aluminum, petroleum oil, fertilizers, and aluminum wire.
Translated by Elúsio Brasileiro
