UAE among Brazil’s largest int’l investors: Al Mazrouei

ABU DHABI / WAM

Abdullah Al Mazrouei, Chairman of the Federation of the UAE Chambers of Commerce and Industry (UAE Chambers), and Chairman of the Abu Dhabi Chamber of Commerce and Industry, affirmed the strength of the UAE-Brazilian relations in various sectors, driven by the support of the two countries’ leadership, which reflected positively on the levels of bilateral trade, economic cooperation and mutual investments.
In statements to the Emirates News Agency (WAM), on the occasion of the visit of Brazilian President Luiz Inácio Lula da Silva to the UAE, Al Mazrouei said that this visit reaffirms the Brazilian leadership’s keenness to continue strengthening bilateral ties across various domains, especially development and economy, in a way that serves the mutual benefit of the two friendly countries.
The chairman of UAE Chambers stated that the UAE is among the largest international investors in Brazil, calling on the two countries’ business environments to explore more commercial and investment opportunities, launch joint initiatives and projects, and focus on priority and competitive sectors on both sides, such as energy, sustainability, food security, mining, information technology, and pharmaceutical industries.
Al Mazrouei stressed that bilateral relations do not stop at the UAE and Brazilian markets, pointing out that the UAE market is a commercial gateway and an ideal starting point for access to the Arab, Indian, Asian and African markets, which represents an ideal opportunity for the Brazilian business sector by benefiting from the attractive business environment and infrastructure.
“On the other hand, the UAE is looking forward to benefit from the promising investment and trade opportunities in the Brazilian market – the largest market in Latin America – and build on its distinguished relations with the Brazilian side to enhance its economic presence in the South American continent, in line with the UAE’s economic diversification policies and economic strategic goals,” he added.
Al Mazrouei concluded by stating that that the Federation of the UAE Chambers of Commerce and Industry is keen on supporting Brazilian industrial companies wishing to establish economic, commercial and investment cooperation relations with industrial companies and institutions operating in the Emirates.

Brazilian exports to UAE hit $714.07mn in Q1 of 2023
Osmar Chohfi, the President of Arab-Brazilian Chamber, said that the volume of Brazilian exports to the UAE is constantly increasing, with the value of Brazilian exports to the UAE totaling $714.07 million (approximately AED2.6 billion) in the first quarter of this year.
“We believe that these trade figures will continue to rise over the coming months as there are a myriad of opportunities up for grabs for the UAE and Brazilian markets to develop further together, ”he told the WAM.
“UAE is a major center for worldwide trade and a preferred destination for foreign investors,” he said, noting the expanding ties between Brazil and the Arab nations, particularly the UAE, in light of the two nations’ ongoing initiatives to deepen and broaden their well-established economic ties by investigating novel avenues for trade, partnership, and economic cooperation.

$17.7 billion in Brazilian food exports to 22 Arab countries
Dr Jamal bin Saif Al Jarwan, Secretary General of the UAE International Investors Council (UAEIIC), said that Brazil is a significant actor in the worldwide economy, and one of the world’s major producers and exporters of food.
In statements to the WAM, Al Jarwan said that Brazil’s food products industry revenue amounted to over $100 billion in 2022, noting that the South American nation is the largest important supplier of halal food to the Arab world, with $17.7 billion in exports to 22 Arab countries in 2022.
“Brazil is at the top of the Council’s priority list as an important investment destination to expand in Latin American countries by linking together business owners from both sides to make a difference on the path of economic and trade cooperation and qualitative investments,” he added.