Kuwait Seeks To Diversify Trade With Brazil

(MENAFN- Brazil-Arab News Agency (ANBA)) São Paulo – The new ambassador from Kuwait to Brasília, Talal Al-Mansour, argues that Brazil-Kuwait trade could – and should – be diversified away from Kuwaiti oil and Brazilian foodstuff. On a visit to the Arab-Brazilian Chamber of Commerce (ABCC) on Friday (2), Al-Mansour said that talks for an agreement between Mercosur – South American trade bloc whose members are Brazil, Argentina, Uruguay, and Paraguay – and the Gulf Cooperation Council (GCC) states – Kuwait, Saudi Arabia, Bahrain, the United Arab Emirates, Saudi Arabia, and Qatar – should be resumed. (Pictured, Al-Mansour at a meeting in the ABCC.)

Chohfi (L) gifts al-Mansour

“Any person in Kuwait you ask to about the commercial relationship between Kuwait and Brazil will tell you about Sadia, because Sadia's project in Kuwait is very successful,” he said referring to the established presence of the Brazilian poultry brand.“So that's what I want, and I am very open to [ideas and propositions] in any fields, anything that could be to the advantage of both states,” Al-Mansour told ANBA, on the potential to expand commercial ties into other sectors of the economy and business models beyond trade, like striking partnerships.

This is the second time that the diplomat has worked in Brazil, as he previously served at the embassy between 2002 and 2006. Al-Mansour recalled that there were talks for a free trade agreement between the Gulf and Mercosur, which have to be resumed.“We have to do this, because the two side have much to gain,” said the ambassador, who had given his credential letters to President Luiz Inácio Lula da Silva last Wednesday (31) in an event held in Brasília. According to him, the Brazilian president said he wishes to have a closer economic relationship to Kuwait and said Brazil has big industries and is making huge investments.

Chohfi (L), Al-Mansour (C), and Mansour: Opportunities for various partnership models

On his visit to the ABCC, the ambassador was accompanied by diplomat Fahad Alati. In the institution, he met with President Osmar Chohfi, International Relations Vice President Mohamad Mourad, CEO & Secretary-General Tamer Mansour, and Institutional Relations Director Fernanda Baltazar, who presented information on the institution and the bilateral trade between the two countries to the ambassador.

Data compiled by ABCC Market Intelligence department showed that last year Brazil exported USD 268.1 million worth of goods to Kuwait, particularly poultry, maize, and beef, and imported USD 403.4 million worth of goods, mostly oil. The trade deficit with the Gulf state was USD 134.7 million.

Translated by Guilherme Miranda

Marcos Carrieri/ANBA Marcos Carrieri/ANBA

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