São Paulo – “Brazil is committed to growing and advancing cooperation in trade with the Arab Countries,” said Hamilton Mourão, the vice president of Brazil, during the wrap-up of the Economic Forum Brazil & Arab Countries.
He said Brazil’s exports to Arab League countries amounted to USD 12.2 billion last year; that all Arab countries combined are Brazil’s third biggest export destination, trailing only China and the United States; and that they are major importers of agribusiness products from Brazil, first and foremost.
“There’s room for broader economic exchange,” he argued, before going on to say that the administration is working on building trust-based relationships and on “creating a political environment conducive to the expansion and diversification of relations with the countries in that region.”
The vice president also said Arab countries have “sizeable investments” in Brazil. “There’s significant growth potential in partnerships in industries such as agribusiness, infrastructure, transportation, energy, defense, science, technology, innovation, tourism, and the medical-hospital industry.”
Mourão asserted that the Investment Partnership Program (PPI, in the Portuguese acronym) is a “great opportunity to cooperate in new areas of interest,” and that Gulf countries including the UAE, Oman and Qatar possess “advanced infrastructure and legal frameworks tailored towards special economic zones, such as export processing zones, which can make it easier for Brazilian products to reach other markets.”
“There certainly is a great degree of complementarity between Brazil and the Arab countries. However, the solid historical, cultural and friendship ties are what paves the way for a prosperous future in Brazilian-Arab relations,” Mourão concluded.
The forum kicked off on Monday (19) and ended this Thursday (22), featuring discussion panels and a virtual exhibition featuring products and services from Brazilian and Arab enterprises.
Check out the full coverage on ANBA.
Translated by Gabriel Pomerancblum
