President Jair Bolsonaro said this Monday (4) that the total investment by Arab funds in Brazil is close to US$ 20 billion. He added that the Brazilian participation in Expo Dubai generated business with an investment forecast of US$ 10 billion.
“The Arab world is the third largest market for Brazil abroad, behind only China and the United States. The trade flow between Brazil and the countries of the Arab League reached, in 2021, more than US$ 24 billion, a record in the historical series. That number should continue to increase. From January to April, exports from Brazil to the Arab world jumped from US$ 4 billion in 2021 to US$ 5.2 billion in 2022”, he declared, in a recorded speech for the opening of the Economic Forum Brazil & Arab Countriesin Sao Paulo.
In Bolsonaro’s assessment, Brazil’s relationship with the Arab world has intensified over the years. Currently, there are 18 diplomatic representations in the 22 countries that make up the Arab league. In Brazil, the Arab community comprises 10 million people.
“At a time when the international community is seeking efforts to ensure the world’s food security, the link between Brazil and the Arab world is getting stronger. Not even in the face of the challenges posed by the pandemic do we stop playing our role in the food supply. Brazil is currently the largest exporter of halal protein in the world. In addition to the trade in chicken and beef, our exports of sugar, soy and wheat are also growing. On the other hand, 26% of the fertilizers that supply Brazilian agribusiness come from the Arab world,” explained the president.
Business
According to Bolsonaro, Algeria was, in 2021, Brazil’s main trading partner on the African continent. Egypt, one of the biggest markets for Brazilian beef in the world, is the main destination for Brazilian exports in Africa.
“In terms of imports, our main supplier on the African continent has been Morocco, a country that currently ranks as the third largest supplier of fertilizers in Brazil, behind Canada and Russia,” said the president.
The fourth edition of the Brazil-Arab Countries Economic Forum is promoted by the Arab Brazilian Chamber of Commerce. The initiative is dedicated to the topics of bilateral relations between Brazil and the 22 countries that make up the League of Arab States.
There will be bilateral meetings with business delegations from Lebanon, the United Arab Emirates, Egypt, Kuwait, Jordan and other countries, with the participation of at least 120 businessmen.
