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Brazil Strengthens Ties with Saudis Posted by on May 19, 2009 in Brazilian News, Economy

President Lula Inacio da Silva made a historic visit to Saudi Arabia this week, the first of its kind for a Brazilian president. He met with King Abdullah, as well as Abdurrahman al-Attiyah, the secretary general of the Gulf Cooperation Council. President Lula went with Brazilian businessmen, but also discussed political and cultural ties.

Officially, the visit was meant to be a political move. The Brazilian government wants to use Saudi Arabia as a jumping off point for strengthening ties with the rest of the Middle East.

But in reality, the visit focused largely on trade with Saudi Arabia. Brazil and Saudi Arabia are already commercial partners; annual trade between the two countries amounts to US$5.5 billion. Brazil is Saudi Arabia’s #1 supplier of frozen chicken, and is also a major supplier of beef.  During the visit, the Saudis expressed interest in extending trade in pharmaceuticals, oil exploration, and agriculture. Also, the Gulf Cooperation Council is interested in a free trade agreement with Mercosur, of which Brazil is a key player.

On Sunday, President Lula and King Abdullah signed a cooperation agreement in the areas of oil, mining, science, and infrastructure, and to increase trade between the two countries.

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Comments:

  1. John Gardner:

    Brazilian exports are as diverse as any other country and very competitive. Over time, given the cost of labor and other efficiencies, Brazilian exports should continue growing.

    To find Brazilian companies to source products or to learn more about doing business in Brazil, visit B2Brazil at http://www.b2brazil.com.