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  • Writer's pictureTeam CargoTalk

UAE invests US$5 billion in Brazil to boost trade

His Excellency Abdullah bin Touq Al Marri, Minister of Economy, said the Emirati-Brazilian partnership is based on solid foundations of friendship and respect for mutual interests. ‘’The bilateral ties between the two countries have experienced real development in a variety of political and economic spheres, and they have been enhanced by several official visits at the level of the two countries’ leaders and top government officials, His Excellency Al Marri said during the state visit by the Brazilian President Luiz Inácio Lula da Silva to the UAE.

In the past, the two countries had maintained a cooperation across many sectors such as industry, transportation, shipping, storage, infra, construction, management of ports, energy, mining, the financial and banking sector, real estate activities, and others.

The governments, he continued, have been keen to facilitate trade, investment, and tourism exchange, and trade and investment figures speak volumes for the growth of relations between the two countries. The UAE is among the largest global investors in Brazil, with an estimated US$5 billion in Emirati investments in Brazil, the minister added.

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