Led by the Saudi Arabian government, investors, and businessmen are arriving in Brazil to finalize contracts in the country

The agreements to be announced are expected to cover strategic sectors such as defense, pharmaceuticals, and even football. Alckmin will kick off the series of meetings
247 - A historic mission composed of investment funds, state-owned companies, and around 200 businessmen from Saudi Arabia is landing in Brazil with the objective of sealing at least 20 agreements and contracts across various sectors. Starting this Sunday (30), events in São Paulo will mark this effort of rapprochement between the two countries. The meetings will be opened by the Vice President, Geraldo Alckmin (PSB). On the Saudi side, the mission is led by Khalid Al-Falih, Minister of Investments, former CEO of Aramco, and one of the main allies of Crown Prince Mohammed bin Salman.According to sources involved in the mission's organization and interviewed by Jamil Chade from UOL, the announced agreements are expected to cover strategic sectors such as defense, pharmaceuticals, and even football, with the presence of a representative from the Saudi federation. Additionally, there is an expectation of closer ties in the fertilizer sector, as Brazil imports almost all of its annual consumption of this essential input for agricultural production, with a third coming from Russia, a country at war.One possibility being considered is the negotiation of a joint-venture agreement for fertilizer production in Brazil, involving Saudi and Brazilian companies. This topic is also on the agenda of the Agriculture Minister, Carlos Fávaro, who will meet with Brazilian entrepreneurs during his visit to the Saudi kingdom this weekend.The Brazilian ambassador in Riyadh, Sérgio Bath, emphasizes that this mission is a "historic event," as never before in the diplomatic history of both countries has there been such an organized delegation of this magnitude. In Brasília, the mission and the involvement of the Vice President mark the end of any tensions that may have arisen from President Luiz Inácio Lula da Silva's (PT) decision to cancel a dinner in Paris last month with the Crown Prince. Bin Salman is accused of involvement in the death of a journalist and is frequently denounced by human rights groups.During a previous visit by Jair Bolsonaro (PL) to Riyadh, he mentioned having a "certain affinity" with Bin Salman, which generated criticism from activists, especially due to comments considered inappropriate. Contacts between the Saudi prince and the Bolsonaro family were also marked by jewelry gifts given by the prince to the presidential couple.Ensuring the supply of fertilizers for Brazilian agriculture is of great interest to the Saudis, as Brazil is the largest food supplier to Saudi Arabia, occupying 10% of that market. However, Brazil aims to balance its trade balance, which currently presents a $2.4 billion deficit. Despite being one of the main food suppliers, the importation of Saudi oil hampers the balance of accounts.Brazilian investments have also gained relevance in Saudi Arabia. Companies such as Vale, BTG Pactual, and Embraer are already present in Riyadh. There is hope that the promised $10 billion from the Saudis to invest in Brazil will find suitable destinations, seeking areas of convergence that can boost the economic development of both countries.