Brazil, Kuwait Advance Towards Diversified Trade

(MENAFN- Brazil-Arab News Agency (ANBA)) São Paulo – The Kuwaiti ambassador in Brasília, Talal Rashed Almansour, met on Friday (4) with Arab-Brazilian Chamber of Commerce (ABCC ) president William Adib Dib Jr. and international relations vice president and secretary-general Mohamad Mourad, in a meeting to discuss the next steps in strengthening trade relations between the two countries.

Almansour told ANBA that Brazil has expertise in sectors such as food and beverages, pharmaceuticals, and aviation.“Brazil is capable of replacing several countries in value-added products, but it needs to showcase this to the world,” he said about what Brazilians can offer globally.

Silvia Antibas, Mohamad Mourad, Talal Rashed Almansour, William Adib Dib Jr., and Salem Mubarak Alraish: Meeting to expand trade exchanges and investments

For Kuwait, he said, it is crucial that Brazil remains a food supplier, as ensuring food security is a“priority” for the country.“Brazil has assured us that it can replace any product we need, which is very reassuring for Kuwait,” he said. He also mentioned that aircraft manufacturer Embraer is negotiating agreements with local airlines and the government.

Almansour took over the embassy in Brasília at the beginning of 2024, marking his second diplomatic assignment in Brazil. Since then, he has been working to expand trade exchanges between the two countries. Last year Brazil exported USD 400.4 million to Kuwait, a 49.4% increase from 2023, while imports reached USD 580.3 million, up 44.9% in the same comparison, according to Brazil's Ministry of Development, Industry, Trade, and Services. Brazil's top exports to Kuwait are meat and poultry, while its primary import is oil, which accounts for nearly all Brazilian purchases from the Gulf partner.

Investment opportunities beyond trade

During his visit to Kuwait scheduled for the end of the first half of the year, Mourad is expected to continue meeting with local authorities. There he will hold meetings aimed at promoting investments, both by allocating Kuwaiti resources in Brazil and by encouraging Brazilian companies to establish operations in Kuwait, following the example of similar initiatives in other Gulf countries.

In February, Mourad and the Brazilian ambassador to Kuwait, Rodrigo Gabsch, met with companies in the country. Now, Mourad is expected to strengthen ties with the Kuwait Chamber of Commerce and Industry and begin working on bringing a Kuwaiti business delegation to Brazil for business meetings.

Almansour and the ABCC executives also discussed the potential impacts of the increased import tariffs imposed by the United States on trade. The diplomat mentioned that the tariff increase for his country was 10%, the same as announced for Brazil. This tax hike is expected to indirectly affect Kuwait by likely driving up global product prices. This effect, he noted, could create opportunities for Brazil.

The meeting was also attended by the diplomatic attaché of the Kuwaiti embassy, Salem Mubarak Alraish, as well as ABCC marketing vice president Silvia Antibas, institutional relations director Fernanda Baltazar, and translator Saleh Haidar Hassan.

Almansour is in São Paulo to attend the SP-Arte fair, held in the capital until next Sunday (6), accompanied by Georgia Mourad, who also participated in the ABCC meeting.

Read more:
Brazil, Kuwait plan to expand trade exchanges

Translated by Guilherme Miranda

Marcos Carrieri/ANBAMarcos Carrieri/ANBA

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