According to the Saudi Press Agency, the Saudi-Brazilian Business Forum convened in Riyadh with over 150 investors from both nations in attendance.
Hosted by the Federation of Saudi Chambers and Brazil’s Lide Group, the forum aimed to bolster business and trade connections.
Dr. Faisal Ghulam, Saudi ambassador to Brazil, commended the robust economic ties spanning 55 years between the two countries in his address at the event. He hailed Brazil as a crucial trading ally, with annual trade amounting to $8 billion.
Ghulam highlighted the significance of the Saudi-Brazilian coordination council, established after President Lula da Silva’s recent visit to the Kingdom. He emphasized that Saudi Vision 2030 presents substantial opportunities for Brazilian investors, fostering enhanced trade relations.
Luiz Fernando Furlan, chairman of Lide’s board, echoed this sentiment, underlining the potential for improved trade ties due to Vision 2030.
Chairman Mishal bin Hithlain of the newly formed council pledged to advance the partnership, address obstacles, and streamline visa processes for business communities from both countries.
Joao Doria, chief of Lide, urged Brazilian businesses to explore investment prospects within the framework of Vision 2030 in Saudi Arabia.
The forum delved into key sectors pivotal to bilateral trade, encompassing aviation, energy, logistics, mining, agriculture, real estate, and healthcare. This marked Lide’s inaugural event post the establishment of its Riyadh offices.
Malik Al-Qahtani, Lide’s Saudi representative, vowed to bolster support for the business sectors of both countries and enhance operational efficiency for Saudi and Brazilian investors.
