LuLu Saudi Hypermarket will play a leading role in enhancing bilateral commercial ties between Saudi Arabia and Brazil. This was announced during the visit of Brazilian Vice President and Minister of Development, Industry, Trade and Services Geraldo Alckmin, to the Kingdom.
During the visit, an MoU was signed between the Brazilian Trade and Investment Promotion Agency, known as ApexBrasil, and LuLu Hypermarket to enhance the market’s awareness on Brazilian produce and boost consumption of Brazilian products in Saudi Arabia. As per the agreement, ApexBrasil will use LuLu’s vast retail platform to achieve these objectives.
The MoU was signed by Jorge Ney Viana Macedo Neves, president of ApexBrasil, and Shehim Mohammed, director of Lulu Saudi Hypermarket, in the presence of Saudi Minister of Investment Khalid Al-Falih and Alckmin.
The Brazilian vice president’s visit to Saudi Arabia with a delegation of ministers and businesspeople aims to strengthen ties with the Kingdom and unlock new markets for Brazilian goods, according to a statement published by the government. The visit is a signal that Brazil is seriously seeking to unlock the potential of Saudi Arabia for its agricultural and FMCG business. Brazil is a major player in the global agricultural trade. The most significant products in the sector are rice, maize, soybean, sorghum, sugarcane, potato, corn, tomato, watermelon, and onion. The country is also famed for its signature meat — beef, chicken and lamb.
“We welcome this opportunity to be a commercial partner in the promising bilateral relations between Saudi Arabia and Brazil,” said Mohammed. “Brazilian products, especially in the agricultural and meat sectors, have always had an excellent reputation. However, with better transportation technology and food technology, we will be able to enjoy unprecedented access to the Brazilian basket of goods in the coming month through LuLu,” he added.
