Contributing to the economic growth of South America’s food-producing agribusiness hub, Brazil, Qatar plays a pivotal role and is considered a strategic partner in the supply of fertilizers said Rafael Solimeo, Head of International Office of the Arab-Brazilian Chamber.
The trade relations between the two countries continue to strengthen with various exports and imports.
In an interview with The Peninsula, Solimeo highlighted that “Brazil exported $411.24m to Qatar in 2022, with a 44.66 percent increase over the previous year” adding that Qatar’s exports to Brazil amounted to $1.208bn, expanding 53.12 percent.
Hence, the commercial ties between the two nations are “complementary and non-competing”, enabling the development of a series of cooperations, explained Solimeo.
With over $1.6bn, the trade flow has been dynamic and growing at a fast pace. Qatar also plays a vital part in providing natural gas to Brazil, powering the country’s thermoelectric plants, which are turned on when the hydroelectric reservoirs do not have enough water to meet the demand for electricity.
He said that “Qatari natural gas not only guarantees the energy supply of the Brazilian economy but also avoids a series of environmental damages that could be caused if diesel were used in its stead.”
Brazil, on the other hand, is a significant food supplier to Qatar, especially animal protein. Therefore, the Latin American country continues to play a key role in the food security of Qatar over the past many decades. This is done to benefit the bilateral ties between the two countries as both sides seek to progress the production of fertilizers and food.
Last month, Solimeo visited Qatar to introduce Brazilian startups and to promote the trade activities and proposals initiated by the officials. He remarked that last year’s mega sporting event, FIFA World Cup 2022 made a positive impact placing the country as one of the main destinations for investment by international organisations including Brazilian citizens to explore and invest.
Source : Zawya