LONDON: The Saudi-Brazilian Business Forum in Riyadh was attended by more than 150 investors from both countries on Monday, the Saudi Press Agency reported.
The event, hosted by the Federation of Saudi Chambers and Brazil’s Lide Group, aimed to improve business and trade ties.
Dr. Faisal Ghulam, Saudi ambassador to Brazil, delivered a speech at the forum in which he praised the strong economic relations between the two countries built over 55 years.
He described Brazil as “an important trading partner” for the Kingdom. Annual trade between the two countries stands at $8 billion.
Ghulam lauded the establishment of a Saudi-Brazilian coordination council following President Lula da Silva’s visit to the Kingdom late last year.
Saudi Vision 2030 is providing Brazilian investors with significant opportunities, paving the way for improved trade ties, said Luiz Fernando Furlan, chairman of Lide’s board.
The newly established council will “work to advance the partnership, overcome challenges, and facilitate visas for the business communities from the two countries,” said its Chairman Mishal bin Hithlain.
Lide chief Joao Doria called on the Brazilian business community to explore the “great investment opportunities” available in the Kingdom through Vision 2030.
The forum covered key sectors at the heart of trade between the two countries, including aviation, energy, logistics, mining, agriculture, real estate and healthcare. It was the first event hosted by Lide after the firm opened offices in Riyadh.
The company’s Saudi representative, Malik Al-Qahtani, pledged to serve the business sectors of both countries and improve the ease of operations for Saudi and Brazilian investors.
