Brazil-Emirates Conference To Strengthen Trade, Investment In Key Sectors

Juma Al Kait, Assistant Under-Secretary for International Trade Affairs at the Ministry of Economy, highlighted the robust trade and investment relations between the UAE and Brazil at the Brazil-Emirates Conference in Abu Dhabi. This event, running from 6th to 8th March and organized by the Group of Business Leaders (LIDE), aims to foster new partnerships in sectors such as technology, agribusiness, decarbonisation, and more. The conference underscores the strong bilateral ties, with non-oil trade between the two nations reaching US$4.3 billion in 2023, marking a significant increase from previous years.

Al Kait emphasized Brazil's importance to the UAE, noting it as a key trading partner in South America and highlighting the mutual growth ambitions of both countries. He referenced the UAE's "We the UAE 2031" vision and Brazil's Growth Acceleration Programme as frameworks guiding their development goals. The Assistant Under-Secretary also pointed out the strategic locations of both countries as emerging centres of economic growth, particularly in light of the UAE's recent accession to the BRICS community.

In his keynote address, Al Kait underscored the shared vision of leveraging trade, investment, and innovation for long-term prosperity. He stressed the UAE's commitment to enhancing partnerships with economies around the world, including those in the BRICS community. Furthermore, Al Kait invited Brazilian entities to explore opportunities within the UAE's dynamic business ecosystem, highlighting advantages such as 100 percent foreign ownership, flexible tax policies, and streamlined business setup processes.

The conference not only serves as a platform for discussing future collaborations but also celebrates the existing strong trade relations between the UAE and Brazil. With Brazil being a major recipient of UAE exports in South America and a significant investment destination for Emirati funds, this event marks another step towards deepening bilateral ties. The emphasis on mutual benefits from enhanced cooperation reflects both nations' commitment to sustainable economic growth and development.

With inputs from WAM