Riyadh – Two Brazilian companies should sign partnerships with Saudi companies on Sunday (17), during the visit of president Luiz Inácio Lula da Silva to the Chamber of Commerce and Industries of Ryiadh. Lula arrived in the Saudi capital for a two day visit in the company of first lady Marisa Letícia and ministers Celso Amorim (Foreign Relations), Miguel Jorge (Development, Industry and Foreign Trade) and Franklin Martins (Social Communications).
Biomm, a biotechnology company based in Belo Horizonte, the capital of Minas Gerais state, should sign an agreement with the Saudi Gabas group to begin production of insulin in the Arab country. Investment, according to the Brazilian ambassador to Riyadh, Sérgio Canaes, should be US$ 100 million, and the Brazilian company is gong to participate with US$ 30 million as well as transferring technology. The objective is to trade the product throughout the Middle East.
Petrobras, in turn, according to the ambassador, should establish a joint venture with the Saudi Modern Chemicals for production of green coke, an oil product that causes less impact to the environment than regular coal and may be used in thermal electric power plants.
Saturday, also at Riyadh Chamber of Commerce, opened the first day of the Brazilian trade delegation accompanying Lula. According to the executive assistant of the secretary general of the organisation, Shehab Al-Swailem, in his 25 years at the chamber, this was the first time that such a large group of Saudi businessmen participates in a meeting with representatives of foreign companies. “It is a good sign,” he said.
To him, both countries have much in common in the economic area and also in the social point of view. “We must work to develop relations more and more, using all possible methods,” he said.
Swailem pointed out that 70% of the Saudi population is composed of youths. “And that says much, as it may be converted into business opportunities,” he said, adding that it is a population that is avid for products and services like food, transportation, leisure, education and health, among others. “If anyone takes this figure into consideration he will have hundreds of opportunities,” he said.
Swailem opened the event alongside Arab Brazilian Chamber of Commerce president Salim Taufic Schahin, and the vice president of the National Confederation of Industries (CNI), Paulo Tigre.
Schahin pointed out that Saudi Arabia is already the largest Brazilian partner among the Arab countries, but that it is necessary to go ahead in trade and to explore the investment opportunities existing in both countries. “During this moment of global international crisis, we need to explore our affinities,” he said.
On Saturday evening, president Lula met with the secretary general of the Gulf Cooperation Council (GCC), Abdulrahman Al Attiyah, and with Saudi king Abdullah Abdulaziz Al Saud.
*Translated by Mark Ament
