Investments of Arab funds in Brazil reach US$20 billion

RIO DE JANEIRO, BRAZIL – On Monday, July 4, Brazilian President Jair Bolsonaro said that the total investments of Arab funds in Brazil are approaching US$20 billion. He added that Brazil’s participation in Expo Dubai generated business with expected investments of US$10 billion.

“The Arab world constitutes the third-largest market for Brazil abroad, behind only China and the United States. The trade flow between Brazil and the Arab league countries reached, in 2021, more than US$24 billion, a record in the historical series.

“This figure is expected to continue rising. From January to April, Brazil’s exports to the Arab world jumped from US$ 4 billion in 2021 to US$ 5.2 billion in 2022,” he declared, in a speech recorded for the opening of the Brazil & Arab Countries Economic Forum, in São Paulo.

In Bolsonaro’s evaluation, 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 brings together 10 million people.

“At a time when the international community is seeking efforts to guarantee the world’s food security, the link between Brazil and the Arab world is strengthened. Not even in the face of the challenges imposed by the pandemic have we stopped playing our role in the food supply.

“Brazil is today the largest exporter of halal protein in the world. Besides the trade of 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,” he explained.

TRADE

According to Bolsonaro, Algeria was, in 2021, Brazil’s main trade partner on the African continent. Egypt, one of the world’s largest markets for Brazilian beef, is the first destination for Brazilian exports in Africa.

“In terms of imports, our main supplier on the African continent has been Morocco, a country today occupying the position of third-largest supplier of fertilizers to Brazil, behind Canada and Russia,” he said.

The Arab-Brazilian Chamber of Commerce promotes the fourth edition of the Brazil-Arab Countries Economic Forum. The initiative is dedicated to bilateral relations between Brazil and the 22 countries that form the League of Arab States.

There will be bilateral meetings with business delegations from Lebanon, United Arab Emirates, Egypt, Kuwait, Jordan, and other countries, with the participation of at least 120 business people.

With information from Agência Brasil