Page 235 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/29/24, 4:11 PM UAE-Brazil Business Council launches in Sao Paulo to boost growing trade, investment ties
Dr. Mohamed Asaad Taher, head of business development (MENA) at Abu Dhabi Future Energy
Company – Masdar, co-chaired the meeting, representing the UAE side. Meanwhile, Dr. Jefferson
de Oliveira Gomes, director of Technology and Innovation at Confederacao Nacional da Industria
(CNI), represented Brazil also as co-chair.
Collaboration in key sectors
In his opening remarks, Dr. Taher said that the UAE-Brazil Business Council builds a vital platform
for deepening economic ties and unlocking new opportunities for collaboration in strategically
important sectors.
“I commend the council members for their commitment to expanding cooperation and creating
valuable business prospects in both the UAE and Brazil. We look forward to working closely with
our Brazilian partners to achieve impactful results that will strengthen trade and create mutual
investment opportunities,” he added.
For his part, Dr. Gomes noted that the UAE-Brazil Business Council’s inaugural meeting marks a
new commitment to the expanding strategic partnership between the UAE and Brazil across several
sectors of mutual interest. “Through the council, we aim to strengthen trade and investment
integration and establish new bridges of cooperation, especially in areas where both countries hold a
strong competitive advantage,” he added.
The council concluded with a commitment to regular, strategic meetings to monitor the
implementation of joint initiatives and reinforce economic ties. Key outcomes emphasized
leveraging emerging opportunities to drive sustainable growth and expand market access for
businesses in both nations.
Read: UAE President engages with world leaders on trade and development at BRICS
Summit
Growing UAE-Brazil trade ties
Trade ties between the UAE and Brazil have seen consistent growth in recent years. Non-oil
bilateral trade reached $2.64 billion in the first half of 2024, marking an 18.2 percent increase over
the same period in 2023 and 53.9 percent growth compared to 2019.
Today, Brazil stands as the UAE’s largest trading partner in Latin America and second in the
Americas, following the United States.
The UAE delegation at the business council included 12 representatives from government entities
and private sector companies. Participants covered high-growth fields such as investment,
renewable energy, logistics, special economic zones, defense, sports, and food production.
For more news on logistics, click here.

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