Brazil signs eight bilateral agreements with United Arab Emirates

In an official visit to the United Arab Emirates, President Jair Bolsonaro signed eight bilateral acts with the Middle Eastearn country in various areas such as peace and security, economic cooperation, artificial intelligence, environment, and defense. The Brazilian entourage was received this Sunday (10/27), in Abu Dhabi, by the country’s crown prince, Sheikh Mohammed bin Zayed Al Nahyan.

Bolsonaro is visiting three countries in the region. After the United Arab Emirates, he will be visiting Qatar and Saudi Arabia, which are major buyers of Brazilian agribusiness products and promising buyers of defense products. Both countries are owners of large sovereign wealth funds seeking investment opportunities in emerging countries.

Agreements

To arouse the companies’ interest in expanding their activities in Brazil, an agreement was signed with the United Arab Emirates to exchange information about the business environment and investment opportunities in both countries, through the sharing of experiences and best business practices.

In the area of defense, both countries intend to set up a fund to expand the productive capacity of the sector in Brazil. The objective is to finance projects of priority of both countries.

Both countries have also established guidelines for partnership in the development, production, and marketing of defense products. An act was also signed for the development of high-level peace and security initiatives; economic cooperation, especially in trade, investment, industry, infrastructure, agriculture, transportation, and outer space; of energy cooperation and joint mechanisms in the tourism, culture, and sports sectors.

Brazil and the United Arab Emirates are still committed to the exchange and mutual protection of information. The signed agreement establishes, among other matters, equivalence of classification levels, protection measures, rules of access and transmission of classified information, as well as measures related to the leakage of confidential data. Another memorandum of understanding foresees partnership between technological institutions in the field of artificial intelligence through the development of basic and applied research programs, joint projects and participation in events.

In the customs area, the two countries should assist each other in preventing, combating, and investigating customs offenses to ensure security and fluidity in the trade logistics chain. In addition, there will be exchange of information on matters within its competence, such as customs valuation, rules of origin, and tariff classification.

Environmental agencies will also cooperate in the areas of environmental conservation and endangered species and develop initiatives in ecotourism, wetland management, among others.

Trip

It has been over 10 years since a Brazilian head of state has not visited the United Arab Emirates, Brazil’s second largest partner in the region. Brazil is the main partner of the country in Latin America.

Prior to reaching the Middle East, Bolsonaro visited China and Japan to publicize the reforms the government is undertaking in the economic field and to publicize business opportunities in Brazil.

Source: Agência Brasil

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