According to Amac News: In the joint announcement of the UAE and Brazil Business Council, it is stated that the purpose of holding this summit was to strengthen business and investment relations.
According to the announcement, the meetings focused on advancing trade and investment between the UAE and Brazil by identifying key avenues for cooperation in sectors such as clean energy, manufacturing, sustainable agriculture and technology.
The meeting highlighted the UAE's strategic advantages as a dynamic business hub and business gateway to Asia and Africa, leveraging its superior location, world-class infrastructure and a favorable regulatory environment for investors to support cross-border growth and development.
The council ended with a commitment to hold regular and strategic meetings to monitor the implementation of joint projects and strengthen economic relations.
Business relations between the UAE and Brazil have seen continuous growth in recent years. Bilateral non-oil trade reached $2.64 billion in the first half of 2024, representing an 18.2% increase over the same period in 2023 and a 53.9% growth over 2019.
Today, Brazil is the UAE's largest trading partner in Latin America and the second largest in the Americas after the United States.
The UAE delegation to the Business Council consists of 12 representatives from government entities and private sector companies covering high-growth areas such as investment, renewable energy, logistics, special economic zones, sports and food production.