Brazil–Saudi Arabia relations saw the first visit by a Brazilian president, Lula, to Saudi Arabia in 2009. The two countries signed a number of bilateral trade and cooperation agreements. By 2022, trade between the two countries had risen to $8.2 billion. Lula supported Saudi Arabia joining BRICS. The sovereign wealth fund of Saudi Arabia pledged to invest $10 billion in Brazil.
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History
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In May 2009 Brazil president Lula made the first visit of a Brazilian president to Saudi Arabia.[1][2] On the visit, Brazil and Saudi Arabia signed an agreement to expand cooperation in oil, mining, infrastructure, and science, and to increase bilateral trade.[1] Brazil president Lula said trade between the two countries had increased 450% in the prior six years.[1] The two countries had annual trade worth $5.5 billion.[1]
In 2022, commerce between the two countries was $8.2 billion. Brazil primarily purchased hydrocarbons and fertilizers ($5.3 billion), while Saudi Arabia primarily purchased halal protein ($2.9 billion).[3]
In August 2023, Lula said that he supported Saudi Arabia being accepted into BRICS.[4]
In November 2023, Lula met in Riyadh with the prime minister and crown prince of Saudi Arabia, Mohammed bin Salman.[5][6][7] They discussed strengthening bilateral relations, and investments in both countries.[6][7] Salman said that a more robust strategic partnership between the two countries would benefit both sides.[6] The $10 billion that the sovereign wealth fund of Saudi Arabia pledged to invest in Brazil was one topic of conversation.[6][7] Lula mentioned Brazil's rapprochement with Arab countries.[6] Salman also discussed Saudi Arabia's entry into BRICS in January 2024.[6] Lula invited Salman to visit Brazil in 2024.[6][8][7]
In February 2024, Saudi Ambassador to Brazil Faisal Ghulam participated in a reception held by the ambassadors of Arab countries and Islamic countries in honor of Lula, and on behalf of the ambassadors of the Arab and Islamic countries, Ghulam delivered a speech in which he reviewed the developing relations between the Arab and Islamic countries and Brazil.[9]
References
edit- ^ a b c d "First visit of a Brazilian president to Saudi Arabia". MercoPress. May 18, 2009.
- ^ "Brazilian president in Saudi Arabia". DAWN. May 17, 2009.
- ^ Eduardo Campos Lima (November 30, 2023). "Brazil president's Saudi visit shows desire for stronger ties". Arab News PK.
- ^ "Brazil president supports accession of Saudi Arabia, UAE to BRICS". Middle East Monitor. August 3, 2023.
- ^ Lama Alhamawi (30 November 2023). "Saudi Arabia and Brazil detail areas of joint cooperation". Arab News.
- ^ a b c d e f g Ricardo Stuckert (1 December 2023). "Lula, MBS Want To Boost Bilateral Trade To USD 20 Bn". MENAFN.
- ^ a b c d Nova, Redazione Agenzia (28 November 2023). "Brazil-Saudi Arabia: Lula meets bin Salman, focus on investments in renewable energy".
- ^ "Lula highlights Brazilian investment in green energy". Agência Brasil. 29 November 2023.
- ^ "Arab and Islamic ambassadors' reception honors Brazilian President Lula". Arab News. 10 February 2024.
External links
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