Saudi Crown Prince Mohammed bin Salman held talks with Brazilian President Lula da Silva in Riyadh on Tuesday, and witnessed the signing ceremony of a bilateral Memorandum of understanding between the two countries in the field of energy.
Prince Mohammed bin Salman and Da Silva reviewed “aspects of bilateral relations between the two countries, joint coordination to enhance cooperation in various fields, discussing promising investment opportunities to achieve common interests, in addition to developments in regional and international situations and issues of common interest and efforts exerted towards them”.
The head of the Brazilian presidential office, Rui Costa, said in press statements at the residence of the Brazilian delegation in Riyadh, that the visit by da Silva comes after the previous announcement of the desire of both parties to develop investment and trade business, after Saudi Arabia expressed its desire to invest 10 billion dollars in Brazil. He stressed that this visit is aimed at “formalizing” this desire.
“These investments will include energy, renewable energy, food security, the food sector, infrastructure and animal protein production,” Costa explained, noting that”the Saudi side has expressed interest in increasing the Brazilian presence as investors in the kingdom”.
Saudi Arabia’s exports to Brazil amount to about 4.5 billion dollars, of which 1.14 billion are non-oil exports, while the kingdom’s imports amounted to 3.62 billion dollars.
The list of the most important Saudi goods exported to Brazil includes (mineral products, fertilizers, plastics and their manufactures, aluminum and its manufactures, organic chemical products), while (meat, cereals, sugar and sugar manufactures, seeds and oily fruits “hay and feed”, animal feed) are the most important goods imported by the kingdom from Brazil.
