UAE, Brazil discuss ways to enhance economic relations
- 2 hours ago
Sheikh Khaled Bin Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, met Alexandre Silveira, the Federative Republic of Brazil’s Minister of Mines and Energy.
During the meeting, discussions focused on ways to enhance economic relations between the two friendly nations, particularly in key sectors such as energy and mineral exploration.
The meeting also explored opportunities to expand strategic partnerships and strengthen the exchange of expertise and modern technologies to support comprehensive development and economic prosperity in both countries.
On the sidelines of the meeting, Sheikh Khaled witnessed the signing of a Memorandum of Understanding (MoU) between the UAE and Brazil to strengthen bilateral relations in areas including energy investments, mineral exploration, and other priority fields.
The MoU was signed by Mohamed Hassan Alsuwaidi, UAE Minister of Investment, and Alexandre Silveira, Brazil’s Minister of Mines and Energy.
This agreement builds on the outcomes of the official visit by Sheikh Khaled to the Federative Republic of Brazil last November, during which he met President Luiz Inácio Lula da Silva to discuss enhancing bilateral cooperation in areas of mutual interest, particularly in clean energy, mineral exploration, and the development of sustainable investments.
The agreement aims to support mutual investments in mineral exploration, development, processing and marketing while also encompassing key areas such as advanced technology, research and development, and workforce education and training in technical fields.
Sheikh Khaled reaffirmed the UAE’s commitment to strengthening its strategic relations with Brazil, especially in the energy and mining sectors.
He highlighted the importance of exchanging expertise and promoting joint projects that foster sustainability and innovation in these vital sectors, bringing mutual benefits to both nations and advancing their shared goals for sustainable and inclusive development.
Mohamed Hassan Alsuwaidi said, “Our collaboration with Brazil highlights the strength of our bilateral partnership and our shared commitment to fostering sustainable economic growth. This latest MoU is a milestone in enhancing cooperation in the mining sector, supporting the energy transition, and ensuring world-class economic, social, and governance practices. It exemplifies the UAE’s dedication to fostering impactful, forward-looking partnerships that deliver mutual benefits while addressing global priorities. We are confident that this agreement will facilitate closer relationships between the UAE and Brazil in both the private and public sectors that will benefit both nations for years to come.”
Alexandre Silveira said, “Brazil is proud to strengthen its partnership with the UAE, reflecting our shared vision for advancing the energy transition. In an increasingly interconnected world, such robust international collaborations are essential to ensure responsible resource management while fostering economic growth. I am confident that this collaboration will deliver meaningful outcomes, driving progress and prosperity for both nations.”
The meeting was attended by Reem Bint Ebrahim Al Hashimy, Minister of State for International Cooperation; Suhail Bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure; Mohamed Hassan Alsuwaidi, Minister of Investment; Khaldoon Khalifa Al Mubarak, Chairman of the Executive Affairs Authority; Saif Saeed Ghobash, Secretary General of the Abu Dhabi Executive Council; Saleh Ahmad Salem Alsuwaidi, Ambassador of the UAE to Brazil, and Waleed Al Mokarrab Al Muhairi, Deputy Group CEO at Mubadala.
Sheikh Khaled’s visit to Brazil in November witnessed the signing of bilateral agreements across several vital sectors aimed at enhancing investments and fostering cooperation in areas of shared interest.
The economic relations between the UAE and Brazil are characterised by a high level of mutual investments and significant trade flows. The UAE is Brazil’s second largest trade partner in the Middle East, with bilateral non-oil trade surpassing $2.64 billion in the first six months of 2024.
WAM
