UAE And Brazil Exploring Means To Strengthen Cooperation: All You Need To Know
Diplomatic ties between the UAE and Brazil were established in 1974. While the Embassy of Brazil in Abu Dhabi was opened in 1978, the Emirates opened its Embassy in Brasília in 1991.
From 2000 onwards, bilateral relations between the two countries have evolved rapidly, a process driven by the increase in the number of official visits.
The economies of the UAE and Brazil are incredibly complementary and show great potential for cooperation in several trade and investment sectors which are still only partially explored.
Brazil Among UAE’s Significant Trading Partners
The two countries currently collaborate in vital sectors such as industry, infrastructure, transportation, shipping, storage, port management, energy and banking and finance.
Brazil is the UAE’s top trading partner in Latin America and ranks second only to the US among the Emirates’ most significant trading partners in the Americas.
The UAE’s non-oil trade with Brazil reached $4.3 billion last year, representing a staggering annual growth of 32%, according to the UAE’s Ministry of Economy.
UAE And Brazil Enter Key Partnership
In September, Abu Dhabi and Brasília entered into a partnership to exchange expertise about the economy as part of the Emirates’ government experience exchange programme.
The partnership will explore new paths for “exchanging knowledge regarding government action and sustainable economic development,” said Abdullah Bin Touq, UAE Minister of Economy.
Since the programme’s launch in 2018, the UAE has signed agreements with participating countries to build institutional capacities for government development.
Existing Relations Witnessing Continued Growth
This month, on the sidelines of the 25th Session of the General Assembly of the UNWTO, Bin Touq held discussions with Celso Sabino, Minister of Tourism of Brazil.
The UAE participated in the capacity of Vice President for the Middle East in the meeting held in Samarkand, Uzbekistan, from October 16 to 20.
Bin Touq and Sabino explored the means to bolster cooperation, emphasising the depth of existing relations, which are witnessing continued growth in all areas of mutual interest.
Boosting Tourism Traffic Between UAE And Brazil
During the meeting, the UAE minister pointed out the need to work on new mechanisms that contribute to boosting tourism traffic between the two countries.
Sabino reiterated the importance of the strategic partnership between the UAE and Brazil, stressing it is important to take advantage of the growth in cooperation in the tourism sector.
They agreed to support tourism flows through programmes and initiatives with the broad participation of the private sector, and to maximize the tourism industry’s economic contribution.