Brazilian president will begin his three-day state visit to UAE today. The UAE is the first Arab country to receive the newly elected Brazilian president who took office in January 2019. The Brazilian President Jair Bolsonaro began a three-day state visit to the United Arab Emirates on Saturday October 26th. Bolsonaro would seek to boost the trade and investment with the three countries to help revitalize the Brazilian economy. This visit comes at a special moment for bilateral trade relations between the two countries and will focus on supporting business transactions. The bilateral trade stood at US$2.6 billion in 2018, however, the first eight months of 2019 have already witnessed US$2 billion trade transactions.
Brazil-UAE Business Forum will be held in Abu Dhabi on the morning of Sunday October 27th. The forum will showcase investment opportunities in both countries, as more than 100 Brazilian business leaders and entrepreneurs have arrived in the UAE to attend the forum. “We expect the same number of UAE businesspersons also at the forum,” the ambassador said. The UAE and Brazil signed bilateral agreements in 2018 on the avoidance of double taxation and the facilitation of investments.