The UAE and Brazil relations are steadily growing and trade between the two countries continued its robust upward trend in 2022, totaling more than US$4 billion, said Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade.
The statement was made as Brazilian President Luiz Inácio Lula da Silva made an official visit to the UAE and held talks in Abu Dhabi with President His Highness Sheikh Mohamed bin Zayed Al Nahyan. The meeting at Qasr Al Watan began with His Highness Sheikh Mohamed welcoming the President and his delegation to the UAE.
“Such high-level official visits help advance these relations to the level of strategic partnership and comprehensive cooperation between the two countries in many important fields of common interest,” Al Zeyoudi told the Emirates News Agency (WAM) in statements marking the Brazilian leader's visit to the UAE.
“The trade and investment relations between UAE and Brazil play an important role in consolidating the bonds of cooperation between the two countries.”
He added that UAE-Brazil trade continued its robust upward trend in 2022, totaling more than US$4 billion, up 32%, 67%, and 43% from 2021, 2020, and 2019, respectively.
According to non-oil foreign trade figures for 2022, Brazil is the UAE's top trading partner in Latin America, Al Zeyoudi said, adding that Brazil ranks second only to the United States among the UAE's most important trading partners in the Americas.
“The UAE ranks 23rd among the most significant markets for imports into Brazil and the 27th among the most significant overseas markets for Brazilian exports,” the minister added.
With a share of 18% of Brazil's overall commerce with Arab nations in 2022, the minister said that the UAE came in second on the list of Brazil's most significant trading partners in the Arab world.
“During the official visit of Brazilian President Luiz Inácio Lula da Silva and his accompanying delegation to the UAE, we look forward to advancing joint efforts to promote trade and investment relations between the two countries to achieve further joint economic growth and constructive cooperation in priority sectors,” Al Zeyoudi concluded.
Meanwhile, 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 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 WAM.
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