President Bolsonaro, Prince Al Nahyan Announce Brazil/UAE Trade Agreement

RIO DE JANEIRO, BRAZIL – President Jair Bolsonaro and Sheikh Mohammed bin Zayed Al Nahyan, Prince of Abu Dhabi, have agreed to increase trade between Brazil and the United Arab Emirates and expand partnerships involving investment funds in sectors such as agribusiness, infrastructure, energy, and defense, according to a joint statement released on Sunday.

The countries signed agreements in the fields of artificial intelligence, environment, defense, trade and customs cooperation.

Bolsonaro visited Abu Dhabi as part of a 10-day trip to Asia and the Middle East in search of attracting investment to Brazil.

In the United Arab Emirates, the president met with Sheikhs Al Nahyan and Mohammed bin Rashid Al Maktoum, Prime Minister of the United Arab Emirates and Emir of Dubai, and also attended a business seminar.

Brazil has a special interest in the United Arab Emirates as a gateway to ease the access of Brazilian products to third-country markets, particularly in Asia, given its strategic location, its advanced infrastructure and the dynamic business environment of the Emirates, according to a joint statement released by Itamaraty.

“Both leaders emphasized the excellent economic cooperation between Brazil and the United Arab Emirates and expressed their determination to strengthen it further.”

“By recalling the already significant mutual investments, they defined similarities and joint priority initiatives with a view to expanding partnerships involving investment funds in sectors such as agribusiness and food security, infrastructure, transportation, energy, defense, and innovation, with a view to mutual benefits for both countries’ peoples and economies,” said the text.

Following the United Arab Emirates, Bolsonaro will still visit Qatar and Saudi Arabia, hoping to overcome a diplomatic disagreement with Arab nations last year due to a proposal, later abandoned, to transfer the Brazilian embassy in Israel to Jerusalem.

Source: Veja