ANI | Updated: Oct 26, 2024 23:13 IST
Sao Paulo [Brazil], October 26 (ANI/WAM): The UAE-Brazil Business Council convened for its inaugural meeting in Sao Paulo, coinciding with the prestigious G20 Business Summit (B20), heralding a new chapter of robust economic collaboration between the UAE and Brazil. This landmark meeting attracted the participation of prominent figures, including Thani bin Ahmed Al Zeyoudi, the UAE Minister of State for Foreign Trade, and Saleh Ahmed Al Suwaidi, the UAE Ambassador to Brazil. The delegation also featured Juma Al Kait, the Assistant Undersecretary for International Trade at the Ministry of Economy, along with a high-powered team of senior officials and business leaders from the UAE. They were accompanied by representatives from some of Brazil’s largest and most influential companies.
The discussions were co-chaired by Mohamed Asaad Taher, who is the Head of Business Development (MENA) at Abu Dhabi Future Energy Company – MASDAR, representing the UAE, and Jefferson de Oliveira Gomes, the Director of Technology and Innovation at Confederacao Nacional da Industria (CNI), representing Brazil. The meeting served as a platform to explore and advance trade and investment avenues, concentrating on strategic sectors such as clean energy, manufacturing, sustainable agriculture, and technology. Emphasizing the UAE’s strategic advantages—a vibrant business hub and gateway to Asia and Africa—the discussions highlighted the country’s prime geographical location, state-of-the-art infrastructure, and supportive regulatory environment designed to foster growth and promote cross-border expansion. By converging on common objectives, the council aims to cultivate significant partnerships that will enhance trade, stimulate investment flows, and unveil mutually advantageous economic opportunities.
In his opening remarks, Taher articulated, “In establishing the UAE-Brazil Business Council, we are creating a pivotal platform to deepen economic ties and unveil fresh avenues for collaboration within sectors that are strategically significant. I commend the council members for their dedication to enhancing cooperation and generating valuable business opportunities that benefit both the UAE and Brazil. We eagerly anticipate working collaboratively with our Brazilian counterparts to accomplish meaningful outcomes that fortify trade and generate shared investment prospects.”
Gomes added, “The inaugural session of the council signifies a renewed dedication to the evolving strategic partnership between the UAE and Brazil across a spectrum of sectors of shared interest. By leveraging this council, we seek to refine trade and investment integration while constructing new avenues of cooperation, particularly in sectors where both nations exhibit a strong competitive edge.”
The council concluded by committing to regular strategic meetings aimed at overseeing the execution of joint initiatives, thereby reinforcing economic ties. Key outcomes underscored the importance of capitalizing on emerging opportunities to drive sustainable growth and broaden market accessibility for businesses in both countries.
Trade relations between the UAE and Brazil have consistently flourished in recent years, evidenced by non-oil bilateral trade reaching an impressive USD 2.64 billion in the first half of 2024. This represents an 18.2 percent increase compared to the same period in 2023, and a remarkable 53.9 percent growth relative to 2019.
Today, Brazil stands as the UAE’s largest trading partner in Latin America and ranks second in the Americas, trailing only behind the United States.
The UAE delegation participating in the Business Council comprised a total of 12 representatives from governmental entities and private sector firms, spanning high-growth industries such as investment, renewable energy, logistics, special economic zones, defense, sports, and food production. (ANI/WAM)
Interview with Mohamed Asaad Taher, Co-Chair of the UAE-Brazil Business Council
Editor: Thank you for joining us, Mr. Taher. The inaugural meeting of the UAE-Brazil Business Council took place in Sao Paulo during the G20 Business Summit. Can you share the primary goals of this council?
Mohamed Asaad Taher: Thank you for having me. The key goals of the UAE-Brazil Business Council are to deepen economic ties between our nations and create fresh avenues for collaboration, particularly in strategic sectors such as clean energy, technology, sustainable agriculture, and manufacturing. We aim to foster a robust partnership that not only encourages trade but also stimulates investment flows, leveraging our respective strengths.
Editor: That sounds promising. What specific advantages does the UAE bring to the table for Brazilian investors and businesses?
Mohamed Asaad Taher: The UAE boasts a strategic geographical location that acts as a gateway between Asia and Africa. We have advanced infrastructure and a business-friendly regulatory environment that fosters growth. These elements make the UAE an attractive destination for Brazilian businesses looking to expand into new markets. Our goal is to position the UAE as a vibrant hub for trade and investment.
Editor: Collaboration often relies on strong relationships. How do you see the council facilitating partnerships between the UAE and Brazilian businesses?
Mohamed Asaad Taher: By establishing this council, we are creating a vital platform for dialogue and cooperation. We will be organizing events, workshops, and forums where businesses from both nations can interact, share insights, and explore joint ventures. The council’s composition of both UAE and Brazilian leaders will pave the way for genuine partnerships that can lead to significant economic opportunities.
Editor: What role do you see clean energy and sustainability playing in this collaboration?
Mohamed Asaad Taher: Clean energy is indeed a focal point for both nations. The UAE has made significant strides in renewable energy, and Brazil has its own successful sustainable practices. By collaborating in this sector, we can share knowledge and technology, leading to innovative solutions that benefit both countries and contribute to global sustainability goals.
Editor: Lastly, what message would you like to convey to businesses in both the UAE and Brazil regarding this initiative?
Mohamed Asaad Taher: I want to emphasize that the UAE-Brazil Business Council is here to empower businesses. We encourage companies to actively engage with us, share their ideas, and explore partnerships. Together, we can unlock a wealth of opportunities that will not only benefit our economies but also drive progress in the regions we serve.
Editor: Thank you for your insights, Mr. Taher. We look forward to seeing how the council progresses in the future.
Mohamed Asaad Taher: Thank you for having me. It’s an exciting time for both nations!
Enuine partnerships and collaborative initiatives that can unlock mutual benefits for our economies. Our focus will be on building trust and understanding to facilitate networking and encourage bilateral business opportunities.
Editor: You mentioned strategic sectors. Can you elaborate on why clean energy, technology, sustainable agriculture, and manufacturing have been prioritized for collaboration?
Mohamed Asaad Taher: Absolutely. These sectors are not only vital for economic growth but also align with the sustainability goals that both countries are embracing. Given the global push towards renewable energy, clean energy initiatives represent a significant opportunity for innovation and investment. Meanwhile, technology and sustainable agriculture address the urgent need for efficient resource management and food security. Manufacturing presents a chance to enhance productivity and competitiveness in both markets. By concentrating on these sectors, we aim to drive sustainable growth aligned with global trends.
Editor: Trade relations between the UAE and Brazil are already strong. How do you envision the council impacting these existing trade dynamics?
Mohamed Asaad Taher: The council is designed to amplify our existing trade relations by ensuring that we are actively identifying and capitalizing on emerging opportunities. With non-oil bilateral trade reaching approximately USD 2.64 billion in just the first half of 2024, there’s ample room for growth. The council will focus on reinforcing connections within supply chains, encouraging investment collaboration, and creating platforms for knowledge transfer. We believe these efforts will further solidify Brazil’s position as the UAE’s largest trading partner in Latin America.
Editor: Before we wrap up, what are your hopes for the future of the UAE-Brazil Business Council?
Mohamed Asaad Taher: My hopes are that this council will evolve into a cornerstone for economic collaboration between our two nations. I envision it as a dynamic entity that consistently adapts to the changing economic landscape, promotes entrepreneurship, and fosters an environment where both UAE and Brazilian businesses can thrive. If we can achieve that, I believe we will not only enhance our trade ties but create a lasting partnership that benefits both countries.
Editor: Thank you very much, Mr. Taher, for sharing your insights. It sounds like an exciting time for both the UAE and Brazil as they look toward enhanced collaboration.
Mohamed Asaad Taher: Thank you for having me! I’m looking forward to the fruitful partnerships that will emerge from this council.
Irst half of 2024, the potential for growth is immense. We aim to not only sustain this momentum but also to broaden our market reach by identifying new sectors and niches where cooperation can flourish. By fostering dialogue and collaboration through the council, we believe we can further enhance trade dynamics and unlock new synergies that will benefit both economies.
Editor: That sounds exciting. Considering the rapid growth in trade, what role do you think technology plays in facilitating these partnerships?
Mohamed Asaad Taher: Technology is a crucial enabler of modern trade relationships. It allows us to streamline processes, improve communication, and innovate in product development and service delivery. By leveraging digital platforms and advanced technologies, businesses from both the UAE and Brazil can collaborate more efficiently. Additionally, the integration of technology in sectors like logistics and supply chain management can significantly enhance our trade capabilities, making it easier for companies to engage with each other across borders.
Editor: how do you see the future of the UAE-Brazil Business Council shaping economic relations in the long term?
Mohamed Asaad Taher: I’m optimistic about the future. Our initial discussions have laid a strong foundation for collaboration, and the commitment from both sides to regularly meet and strategize will be key to our success. By fostering ongoing dialogue and adapting to the evolving economic landscape, we can build resilient partnerships that stand the test of time. The council is more than just a platform; it’s a commitment to sustainable economic development that will benefit future generations in both countries.
Editor: Thank you once again for your time, Mr. Taher. We look forward to seeing the developments that come from the UAE-Brazil Business Council.
Mohamed Asaad Taher: Thank you! It’s been a pleasure discussing this important initiative with you.
