UAE-Brazil Business Council hold inaugural meeting in Sao Paulo to boost trade, investment ties

Sao Paulo [Brazil], October 26 (ANI/WAM): The UAE-Brazil Business Council held its inaugural meeting in Sao Paulo on the sidelines of the G20 Business Summit (B20), paving the way for stronger economic cooperation between the UAE and Brazil.

The meeting was attended by Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade; Saleh Ahmed Al Suwaidi, UAE Ambassador to Brazil, Juma Al Kait, Assistant Undersecretary for International Trade at the Ministry of Economy, and a high-level UAE delegation that included senior officials and business leaders, alongside representatives from several of Brazil's largest companies.

The meeting was co-chaired by Mohamed Asaad Taher, Head of Business Development (MENA) at Abu Dhabi Future Energy Company - MASDAR, representing the UAE side, and Jefferson de Oliveira Gomes, Director of Technology and Innovation at Confederacao Nacional da Industria (CNI), representing Brazil.

Discussions focused on advancing UAE-Brazil trade and investment by identifying key avenues for collaboration in sectors such as clean energy, manufacturing, sustainable agriculture, and technology. The meeting highlighted the UAE's strategic advantages as a dynamic business hub and commercial gateway to Asia and Africa, leveraging its prime location, world-class infrastructure, and investor-friendly regulatory environment to support growth and cross-border expansion. By aligning on shared priorities, the council aims to forge impactful partnerships that will drive trade flows, stimulate investment, and unlock mutually beneficial opportunities for economic cooperation.

In his opening remarks, Taher said, "In establishing the UAE- Brazil Business Council, we are building a vital platform for deepening economic ties and unlocking new opportunities for collaboration in strategically important sectors. I commend the council members for their commitment to expanding cooperation and creating valuable business prospects in both the UAE and Brazil. We look forward to working closely with our Brazilian partners to achieve impactful results that will strengthen trade and create mutual investment opportunities."Gomes said, "The council's inaugural meeting marks a renewed commitment to the expanding strategic partnership between the UAE and Brazil across several sectors of mutual interest. Through the council, we aim to strengthen trade and investment integration and establish new bridges of cooperation, especially in areas where both countries hold a strong competitive advantage."The council concluded with a commitment to regular, strategic meetings to monitor the implementation of joint initiatives and reinforce economic ties. Key outcomes emphasized leveraging emerging opportunities to drive sustainable growth and expand market access for businesses in both nations.

Trade relations between the UAE and Brazil have seen consistent growth in recent years. Non-oil bilateral trade reached USD 2.64 billion in the first half of 2024, marking an 18.2 per cent increase over the same period in 2023 and 53.9 per cent growth compared to 2019.

Today, Brazil stands as the UAE's largest trading partner in Latin America and second in the Americas, following the United States.

The UAE delegation at the Business Council comprised a total of 12 representatives from government entities and private sector companies covering high-growth fields such as investment, renewable energy, logistics, special economic zones, defence, sports, and food production. (ANI/WAM)