Riyadh \u2013 President Jair Bolsonaro said this Tuesday (29) that Saudi Arabians \u201cwant to invest massively in Brazil.\u201d Upon leaving his hotel in Riyadh, Saudi Arabia for lunch at a Brazilian-style barbecue restaurant, Bolsonaro said defense has been a mainstay of his talks with authorities.<\/p>\n
\u201cDefense, it\u2019s the most important thing we\u2019re dealing with. They want to invest massively in Brazil, [in] food security, among other [sectors],\u201d he said. \u201cBrazil is an ocean of opportunity.\u201d<\/p>\n
Saudi Arabia is implementing its Vision 2030 multiannual plan to liberalize and diversify the economy away from oil. Inquired whether Brazil will seize the opportunities offered by the Saudis, Bolsonaro responded affirmatively.<\/p>\n
\u201cWe will take advantage [of this moment]. We\u2019re here with Caio Megale [the Ministry of Economy\u2019s secretary for Industrial Development, Trade, Services and Innovation], who\u2019s an outstanding advisor to [Economy minister] Paulo Guedes. He\u2019s participating in all these meetings. Brazil will not let this opportunity slip by,\u201d he said.<\/p>\n
As for business priorities with Saudi Arabia, he said there are many. \u201cEverything\u2019s a priority, everything\u2019s important. Let\u2019s get the show on the road, this is our chance. This is in the interest of everyone in Brazil, no matter who you voted for in the last [2018 presidential] election,\u201d he said.<\/p>\n
Asked by a reporter about the agenda for a meeting this afternoon with Saudi crown prince Mohammed Bin Salman, he said: \u201cAnyone would like to spend an afternoon with the prince, especially you women, right? So, we\u2019re having this opportunity today. We\u2019ve had a certain affinity since our last meeting [at the G20 summit] in Osaka. I believe it will be a very fruitful afternoon.\u201d<\/p>\n
Bolsonaro has already been with the prince, over dinner on Monday evening (28). \u201cExcellent [dinner], casual, [we discussed] some business stuff. We\u2019re in great terms with Saudi Arabia,\u201d he said.<\/p>\n
This Tuesday, besides the meeting, Bolsonaro will attend a dinner reception offered by the prince to attendees of the Future Investment Initiative (FII), also known as \u201cDavos in the Desert\u201d \u2013 the moniker references the World Economic Forum, held annually in Switzerland.<\/p>\n
The FII began this Tuesday. Bolsonaro\u2019s slated to speak during the session \u201cReturn to prosperity: Can a new global investment environment put Brazil back in business?\u201d<\/p>\n
Before leaving the hotel, Brazil\u2019s president had a meeting with Goldman, Sachs & Co. president John Waldron (pictured<\/em>).<\/p>\n Agreements<\/strong><\/p>\n In Riyadh, a cooperation agreement bewteen the Brazilian and Saudi public health authorities and a memorandum of understanding on visitor visas will be signed, and a cooperation program will be entered into by the Brazilian Trade and Investment Promotion Agency (Apex-Brasil) and the Saudi Arabian General Investment Authority (SAGIA).<\/p>\n The MoU will see multiple-entry visitor visa validity to Saudi Arabia increased from one to five years, and the related charge reduced to USD 80.<\/p>\n Saudi Arabia\u2019s government recently introduced online and on-arrival visa application<\/a> for tourists from 49 countries, and although Brazil isn\u2019t one of them, the memorandum could be a step in that direction.<\/p>\n Translated by Gabriel Pomerancblum<\/strong><\/p>\n