A joint statement was issued during the visit of President Luiz Inacio Lula da Silva, president of the Federative Republic of Brazil, to the kingdom of Saudi Arabia, which came out of the distinguished relations that unite the two countries and their friendly peoples, and at the invitation of the custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud.
The two sides praised the results of the Brazilian-Saudi Investment Forum held in Sao Paulo, Brazil, in August 2023, which witnessed the signing of 25 investment agreements between the two countries, valued at about 3.5 billion dollars.
The two sides stressed the importance of continuing to work to strengthen partnerships between the private sector in the two countries by creating the appropriate investment environment, intensifying mutual visits of delegations, and holding joint investment forums and forums.
The Brazilian side welcomed the entry of Saudi companies into the Brazilian market to invest in quality projects, through an “investment roadmap” worth 10 billion dollars, through the Saudi Public Investment Fund, where the Saudi company (Manara) invested in the Brazilian company (Vale) for 2.6 billion dollars, and the Saudi company (Salik) invested in the Brazilian companies (Minerva foods) and (BRF) in the agriculture and food industries worth 765 million dollars.
The Saudi side expressed its aspiration for Brazilian companies to enter the Saudi market and take advantage of the investment opportunities offered by the kingdom’s Vision 2030 projects.
In this regard, the two sides stressed the importance of accelerating the pace of negotiations between the two countries on the “investment protection and Promotion”Agreement.
The Saudi side welcomed the entry of Brazilian companies specialized in the implementation of major projects in the kingdom, including water projects, and the two sides stressed the importance of strengthening cooperation between the two countries in the agricultural, fisheries and animal fields.
