São Paulo – Saudi Arabia’s Embassy in Brazil held an event on Sep. 17 in Brasília to mark its National Day and the 55th anniversary of diplomatic ties with Brazil. In a statement, the embassy noted that at this time, as it approaches its 94th anniversary and celebrates these diplomatic relations, the ties between the two countries have never been stronger.
The Saudi Ambassador, Faisal Ghulam, welcomed guests at the Ulysses Guimarães Convention Center. The president of the Arab-Brazilian Chamber of Commerce, diplomat Osmar Chohfi, was among the attendees, as well as the Secretary for Africa and the Middle East at Brazil’s Ministry of Foreign Affairs, Ambassador Carlos Sérgio Sobral Duarte, who gave a speech at the celebration.
According to the embassy’s statement, Saudi Arabia is currently Brazil’s largest trading partner in the Middle East, with bilateral trade of approximately USD 7 billion per year and increasing reciprocal investments. Brazilian companies such as Embraer, BTG Pactual, and Oncoclínicas are expanding their businesses into the Arab country, while Saudis have announced investments in national companies like Vale and BRF.
The embassy highlights that recent visits by Brazil’s President Luiz Inácio Lula da Silva and Vice President Geraldo Alckmin have led to new agreements in the areas of defense technology and agriculture. In turn, Saudi Arabia brought its largest economic forum, the Future Investment Initiative (FII), to Brazil for a special edition, facilitating high-level connections between companies and governments.
Saudi Arabia’s Vision 2030
The embassy also states that at the heart of Saudi Arabia’s transformation is Vision 2030, a strategy led by Crown Prince Mohammed Bin Salman, aimed at diversifying the Saudi economy away from oil by developing industries such as tourism, technology, renewable energy, and entertainment. According to the embassy, these projects create opportunities for Brazilian companies.
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Translated by Guilherme Miranda
