Riyadh, March 04, 2024, The Saudi-Brazilian Business Forum, jointly organized by the Federation of Saudi Chambers and the Brazilian LIDE Group, brought together 150 investors from various economic sectors in a collaborative effort to strengthen economic ties between the two nations.
Saudi Ambassador to Brazil, Dr. Faisal Ghulam, emphasized the robust economic relationship that Saudi Arabia and Brazil have cultivated over the past 55 years. He highlighted Brazil's pivotal role as an essential trading partner, with the current trade volume standing at $8 billion. Dr. Ghulam underscored the positive outcomes stemming from the recent visit of the Brazilian president to the Kingdom, which included the establishment of a joint coordination council.
Luiz Fernando Furlan, Chairman of the Board of Directors of the Brazilian LIDE Group, commended the economic developments in Saudi Arabia under Vision 2030. He asserted that these developments create significant investment opportunities for Brazilian investors in the Saudi market.
Mishal bin Hithlain, Chairman of the Saudi-Brazilian Business Council, emphasized that the creation of the Saudi-Brazilian Coordination Council would elevate the relationship between the two countries to a strategic partnership. The council aims to enhance collaboration, address challenges, and streamline visa processes for the business communities of both nations.
João Doria, Head of the Brazilian LIDE Group, expressed admiration for Saudi Arabia's Vision 2030 and its transformative projects. He encouraged businessmen to explore the vast investment opportunities available in both countries.
Abdul Malik Al-Qahtani, the Representative of the Brazilian LIDE Group in the Kingdom, expressed pride in representing the group in Riyadh. He committed to serving the business sectors, fostering economic relations, overcoming obstacles, and facilitating the visa acquisition process.
The forum's working sessions delved into trade and investment partnership opportunities across various sectors, including aviation, energy, logistics services, mining, agriculture and food security, real estate, healthcare, and pharmaceutical industries. This event marked the first forum held by the LIDE Group after opening its office in Riyadh, signaling a mutual desire to advance economic cooperation between Saudi Arabia and Brazil.
