RIYADH: A high-level business delegation led by the Vice President of the Confederation National Industries (CNI) of Brazil Paulo Gilberto Fernandes Tigre, who is also the president of the Federation of Industries of the Rio Grande do Sul State, arrived in Riyadh.
The delegation arrived a day ahead of the two-day visit by Brazil President Luiz Inácio Lula da Silva today. The President will be accompanied by the Minister of External Relations of Brazil Celso Amorim, the Minister of Development-Industry & Foreign Trade Jiguel Jorge, Minister of Press and Media Franklin Martins and other high-ranking officials.
Saudi Arabia and Brazil will sign, during the president’s visit, several agreements and memorandum of understandings such as the General Agreement on Cooperation, agreement on the cooperation on higher education, memorandum of understanding regarding political consultation, memorandum of understanding between the diplomatic institutes and agreement on cultural cooperation.
The sectors represented in the business delegation that arrived here yesterday are aviation, agriculture projects, railway wagon, heavy and specialized transport vehicles, construction, engineering, foodstuff, investment, animal feed, petrochemical and agricultural equipment, oil and gas and mining as well as representatives from Brazilian Federation of Industries and Chambers of Commerce.
SAGIA (Saudi Arabian General Investment Authority) Gov. Amr Al-Dabbagh and Riyadh Chamber of Commerce and Industry and the Vice Chairman of the Council of Saudi Chambers Abdul Rahman Al-Jeraisy are hosting breakfast and luncheon respectively in honor of the president.
On the industrial level, The GCC-Mercosul Free Trade Agreement negotiation is in progress and the GCC Secretary-General Abdulrahman Al-Attiyah will pay a courtesy call on the president of Brazil.
The total trade of Saudi Arabia and Brazil has crossed the $5.5 billion barrier in 2008. In 2007 the total trade of the two countries was $3.2 billion. The exports of Saudi Arabia to Brazil in 2008 were $2.9 billion and in 2007 $1.7 billion. The exports of Brazil to Saudi Arabia in 2008 were $2.6 billion and in 2007 $1.5 billion.
