The Minister of the Civil House, Rui Costa, and the Minister of Investment of the United Arab Emirates, Mohamed Hassan Alsuwaidi, signed, this Sunday (17), in Rio de Janeiro, an agreement to attract investments from the Middle Eastern country in sectors strategic aspects of the Brazilian economy. The forecast is that, within a maximum period of two months, a portfolio of projects with business opportunities will be closed.
The signing took place during President Luiz Inácio Lula da Silva’s bilateral agenda with the Crown Prince of Abu Dhabi, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan – head of the UAE delegation at the G20 Leaders Summitled by Lula this Monday (18) and Tuesday (19), in the capital of Rio de Janeiro.
In a statement, the Civil House highlights that the United Arab Emirates are Brazil’s second main trading partner in the Middle East. The trade flow between the two countries exceeded US$4.3 billion in 2023.
“It is expected that, based on this mechanism, economic relations between the two countries, which are already characterized by a high level of reciprocal investments and significant trade flows, will gain new momentum in the coming years, taking into account the various axes of potential synergy in the financial, commercial and investment sectors to be mutually explored”, stated the ministry linked to the Presidency of the Republic.
In October, Rui Costa led a Brazilian mission to Dubai and Abu Dhabi to identify priority areas and projects to promote investments in Brazil.
“The United Arab Emirates took the decision to make strong investments in Brazil, and we, therefore, formed a group to, within a maximum period of 60 days, have a portfolio of investments and mutual participation of Brazilian companies that may have a presence in the Emirates, as well as investment funds that wish to invest in Brazil and want to identify these projects quickly so they can contribute resources”, highlighted the minister, in the statement.
On the part of the Brazilian government, the National Bank for Economic and Social Development (BNDES) will help in gathering the proposals.
