Attracting investors; The focus of the Brazilian president’s visit to the Middle East

In the first phase of his economic trip to the Persian Gulf countries, he arrived in the United Arab Emirates, and after visiting government officials, businessmen, and investment funds, he arrived in Bahrain. He will leave and leave for Qatar at the end.

Explaining the visit, the Secretary-General of Brazil’s Bilateral Negotiations with the Middle East, Europe and Africa, Kenneth Felix da Nobrega, described the visit as an opportunity to discuss “high-level post-crisis scenario” issues such as rising oil prices and transfers. It also includes energy.

According to Princess Latina, investments include in areas such as infrastructure, trade, agriculture, renewable energy and defense.

Promoting Brazil’s exports to Arab countries in the minerals and food sectors, such as chicken, beef, sugar and corn, will also be on the agenda.

Attracting investment from Arab countries is one of the main goals of the Bolsonaro government to expand relations with the Arabs. The Arab countries are also interested in investing in Brazil’s agricultural sector in order to ensure food security, due to their location in the arid region and their dependence on food imports.

This is Bolsonaro’s second trip to the Middle East. In 2019, in his first year as President of Brazil, he traveled to Saudi Arabia, the United Arab Emirates and Qatar. Now, more than two years after the previous visit, Bolsonaro is returning to the region with the aim of expanding trade relations with Arab countries and major oil producers.

The President of Brazil during the opening speech of the meeting of the Economic Forum of Brazil and the Arab countries, which was held online last year from October 19 to 22 (October 28 to October 1) with the organizers of the Brazilian-Arab Chamber of Commerce, Brazil-Arab relations “Brazil’s close political relations with Arab countries have created a new perspective for cooperation in strategic areas such as science, technology, initiatives and energy,” he said.

Bolsonaro described his visit to Qatar, the UAE and Saudi Arabia in October 2019 as a clear example of Brazil’s desire to expand relations with Arab countries. Bolsonaro expressed satisfaction with Saudi Arabia’s confidence in investing $ 10 billion in Brazil and said that investment projects in Brazil were being pursued.

Bolsonaro also said that Brazil also invests in Arab countries and that 30 Brazilian companies have offices or factories in those countries.

The 22 member states of the Arab League together make up Brazil’s third largest export market after China and the United States. Brazil’s exports to these countries reached $ 12.2 billion in 2019, up 6.3 percent from 2018. Brazil supplies 50 percent of the food imported from the Arab League, and in some countries the figure is as high as 80 percent.

Brazil is the world’s largest exporter of halal meat and the largest supplier of meat and poultry to Arab countries. Sugar, soy, corn, fruit and dairy products are other products imported by Arab countries from Brazil. Brazil’s imports from Arab countries also focus on imports of fossil fuels, petrochemicals and chemical and mineral fertilizers.