São Paulo – The Federation of Saudi Chambers of Commerce and Industry (FSC) wants to set up an office in São Paulo, according to the assistant secretary-general of the organization, Waleed Alorainan. He visited the headquarters of the Arab Brazilian Chamber of Commerce (ABCC) in São Paulo this Tuesday (1) and expects to stay for a few more days before returning to Riyadh. The chair of the Saudi-Brazilian Business Council, Mishal Ibn Hithlain, was also part of the visit delegation and said the Arab country is working to make this happen as soon as possible.
Accompanying the visit were Saudi Arabia’s Commercial attachée to Washington D.C. and responsible for the Americas, Reem Altharwa; the Relations manager for the Americas and director of the Saudi-Brazilian Business Council, Abdulrahim Almuaibid; member of the Saudi-Brazilian Business Council, Abdulmalik Alqahtani; and representing the Saudi General Authority for Foreign Trade (GAFT), Omar Almughamis.
The Saudis were welcomed by the ABCC’s president, ambassador Osmar Chohfi, Institutional Relations director Fernanda Baltazar, and director Mohamad Abdouni.
Chohfi said it is necessary to diversify the trade basket and include more value-added products from Brazil. He told the ABCC will have an office in Riyadh by the end of this year. “It is important for us to be in Saudi Arabia for all the trade and investment opportunities,” he said. The organization already has international offices in Dubai and Cairo.
Hithlain believes having an ABCC branch office in Riyadh is necessary to develop business relationships in the country. “And we are working to have an office in São Paulo,” he said. He stated his country wants more Brazilian companies to set up there, as they are the largest economy in the Middle East. “We want to see Brazilian companies there,” he reiterated.
The president of the Saudi-Brazilian Business Council said it is paramount for the private sector of both countries to interact more and learn about each other’s business culture. Chohfi made the ABCC available to help and stated the organization works closely together with government trade agencies, such as the Brazilian Trade and Investment Promotion Agency (ApexBrasil). “We will strengthen our cooperation,” he said.
Secretary-General Alorainan said partnerships in tourism, oil & gas, and food security are prospects. “We are very interested in promoting cooperation,” he said, mentioning the sizeable delegation of around 100 is proof.
Alorainan emphasized the invitation for the Brazilian private sector to visit Saudi Arabia. “If you want to do business with Saudi Arabia, you have to go there to see the great transformations taking place,” he said.
“Our ambition is what drives us, what makes us get up in the morning,” he declared. He mentioned that unemployment dropped from 13% to 8%; the country has a young and energetic population, and the gigaprojects in different areas and sectors, such as Neom, The Line, and Qiddiya, pose several business opportunities.
All gigaprojects are part of the country’s Vision 2030 for economic diversification, and tourism is a sector in which they are investing heavily.
The Saudi Federation delegation wants to intensify the business visits between the countries with trade missions. “Our mission is to help and facilitate visits. We leave here the invitation for you to visit Saudi Arabia with a business delegation, and we can work together to outline a schedule of business meetings. We are the umbrella representing the Saudi private sector,” said Alorainan.
Chohfi has already been to Riyadh and said he wants to visit Jeddah next time. “We could encourage a direct flight [between São Paulo and Riyadh] by a Saudi airline. We have three flights to Arab countries, Emirates to Dubai, Qatar Airways to Doha, and Egypt Air to Cairo, starting in September. Royal Air Maroc could also return flights to Casablanca next year,” said the ambassador. He suggested the Arab country buy Brazilian aircraft for its domestic flights, and Alorainan said they are in talks with Embraer.
“We are interested in developing this relationship without boundaries, and we believe it will be a strategic partnership for the Federation,” said Alorainan about a closer relationship between the two entities.
Alorainan and Hithlain suggested knowledge dissemination activities, such as lectures and seminars, so more Saudi business people could learn how to export and do business in Brazil, how laws and taxes work, and Brazilian business people could learn more about Saudi Arabia.
They also spoke about the halal market and the many business possibilities for Brazilian entrepreneurs in this vast market, not only for food and beverages but also tourism, fashion, cosmetics, and pharmaceuticals.
Sustainability was another topic discussed at the meeting. Director Fernanda Baltazar said Brazil and Saudi Arabia could create a joint agenda, considering COP28 will take place in Dubai, so Brazilian companies participating in the event could visit Saudi Arabia afterward.
Translated by Elúsio Brasileiro
