UAE And Brazil Exploring Means To Strengthen Cooperation: All You Need To Know

 

Brazil and the UAE established diplomatic relations in 1974. The UAE opened its embassy in Brasilia in 1991, but the Brazilian embassy in Abu Dhabi opened its doors in 1978.

Since 2000, the two countries’ bilateral relations have significantly developed, a development sparked by an increase in the frequency of official visits.

The economies of the UAE and Brazil are quite complimentary and have a lot of room to grow together in a number of trade and investment areas that are still underdeveloped.

The two nations currently cooperate in important fields like business, infrastructure, shipping, storage, port administration, energy, and banking and finance.

The US is the UAE’s most important trading partner in the Americas, with Brazil coming in second. Brazil is the UAE’s main trading partner in Latin America.

According to the UAE’s Ministry of Economy, non-oil commerce between the UAE and Brazil hit $4.3 billion last year, a startling yearly growth of 32%.

Celso Sabino, the minister of tourism for Brazil, and Bin Touq spoke this month outside of the UNWTO’s 25th General Assembly session.

The summit was place in Samarkand, Uzbekistan, from October 16 to October 20, and the UAE attended in the role of Vice President for the Middle East.

Bin Touq and Sabino investigated ways to strengthen cooperation while highlighting the depth of current ties, which are continuing to deepen in all areas of shared interest.