Council of Saudi Chambers recently issued the following announcement.
On Wednesday, the Council of Saudi Chambers will organize a Saudi-Brazilian Business Forum in the presence of His Excellency President of the Federal Republic of Brazil Jair Bolsonaro accompanied by a high-level delegation consisting of 140 senior officials and Brazilian companies and the participation of a number of Saudi officials and businessmen and women, as part of his official visit to the Kingdom.
The Vice-President of the Council of Saudi Chambers, Mr. Abdullah bin Marzouq Al-Adeem, welcomed the Brazilian President's visit to the Kingdom, looking forward to the expected positive results in enhancing the strategic cooperation relations between the two countries, in addition to the development of commercial relations between the Saudi and Brazilian business sectors, noting that the Saudi-Brazilian Business Forum It is an important step towards building strong bridges for relations between the Kingdom and Brazil based on mutual economic interests.
Al-Adeem added that the Brazilian President's visit to the Council and his meeting with the Saudi business sector come to realize common aspirations to enhance bilateral cooperation in the fields of trade and investment between the two countries, amid a Brazilian desire to become Brazil's main partner in the Latin American countries, considering the size of the Brazilian delegation and high level of representation It reflects the importance Brazil attaches to its trade relations with the Kingdom.
He pointed out that the development of economic relations with Brazil is a priority within the agenda of the Council of Saudi Chambers, an affection for the economic importance of both countries, where the Kingdom is an international center for business and commercial activities within the framework of Vision 2030, while Brazil is a large and growing economic power in Latin America, and has a strong industrial base In addition, there are significant opportunities for cooperation between the two countries in the field of food security, agricultural, food and animal products and other promising fields
He stressed that the meeting between the Brazilian president is an opportunity that should be invested by the Saudi side, especially to raise issues that contribute to the promotion of trade and investment partnership between the two countries, including obstacles that limit trade exchange and promote transport between the two countries and accelerate the establishment of a joint business council and the exchange of information. About investment opportunities in both countries.
It is worth mentioning that the volume of trade exchange between the Kingdom and Brazil amounted to 17.6 billion riyals in 2018.The metal products, chemical products, plastics and their products are the most important exports of the Kingdom to Brazil, while meat, sugar, seeds, oil fruits and fodder are the most important Brazilian imports to the Kingdom.
Original source: https://csc.org.sa/2019/10/29/1-27/