The already-robust relationship between the UAE and Brazil has been further bolstered by the official state visit of President Jair Bolsonaro.

His Highness Sheikh Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has noted that the UAE, under the leadership of President His Highness Sheikh Khalifa Bin Zayed Al Nahyan, is keen to strengthen ties with Brazil across multiple sectors.

Sheikh Mohamed and Bolsonaro witnessed on Sunday the exchange of agreements and memoranda of understanding, which included an MoU on Comprehensive Strategic Partnership with Brazil, signed by Sheikh Abdullah Bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, and his counterpart Ernesto Araujo, Minister of Foreign Affairs.

A series of agreements covered a slew of subjects like cooperation and mutual assistance in customs matters; defence agreements on the exchange and mutual protection of classified information and material; forming a UAE-Brazil fund for strategic cooperation and the expansion of the defence sector’s productive capacity; and, partnerships on artificial intelligence and environmental matters.

The UAE is the third largest Arab trade partner for Brazil and there is a collaborative will to increase trade and investment between the two countries.

The meeting between Sheikh Mohamed and Bolsonaro focussed on ways to enhance bilateral cooperation, coordination and clearly underscored the importance of joint efforts to bolster regional and world security, stability and development.

Fernando Luís Lemos Igreja, Brazilian Ambassador to the UAE, earlier indicated to WAM News Agency that Brazil-UAE bilateral trade is set to increase this year with the intensified business transactions.

The bilateral trade stood at $2.6 billion in 2018. However, the first eight months of 2019 have already witnessed US$2 billion trade transactions. This means 2019 trade volumes will surpass the 2018 figures.

Sugar, poultry, meat and aircraft spare parts are the major exports from Brazil to the UAE, whereas fertiliser for agriculture is the main export from the UAE to Brazil.

The UAE and Brazil had signed in 2018 bilateral agreements on avoidance of double taxation and facilitating investments.

Among the Brazilian companies operating in the UAE is BRF, one of the largest food companies in the world, with products under brands that include Sadia, Banvit, Hilal, Perdix and many others. Incidentally, two daily flights operated by Emirates from Dubai to Rio de Janeiro and Sao Paulo in Brazil are the only direct flights from the UAE to Latin America.

An estimated 10,000 Brazilians are said to be living in the UAE, among them 1,600 Brazilian Jiu Jitsu instructors and their families.

At a seminar in Dubai, as part of her visit to the UAE to attend the Arab-Brazilian Chamber of Commerce, ABCC, meeting recently, Tereza Cristina Correa Da Costa Dias, Minister of Agriculture, Livestock and Food Supply of Brazil, indicated that almost half of trade between the two nations comprises agricultural products.

Chicken, sugar and beef account for 77 per cent of all Brazilian exports to the Emirates.

In March, Brazil and the UAE signed an investment cooperation and facilitation agreement, with the aim of stimulating, simplifying and supporting bilateral investments.

Brazil’s chicken meat exports to Arab countries reached $1.635 billion from January to August 2019, up 16.3 per cent from a year ago, according to the latest figures released by the Arab-Brazilian Chamber of Commerce.

Efforts by the UAE and Brazil to build strategic partnerships across multiple sectors are clearly bearing fruit.