Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef today met with Brazilian Vice-President and Minister of Development, Industry, Trade, and Services Dr. Geraldo Alckmin, to explore ways to enhance economic and industrial relations between the two countries. They discussed attractive opportunities for Brazilian investors and companies in Saudi Arabia’s industrial and mining sectors.

The meeting, attended by Vice Minister of Industry and Mineral Resources for Mining Affairs Eng. Khalid bin Saleh Al-Mudaifer, CEO of the Saudi Export-Import Bank Eng. Saad Al-Khalb and Saudi Ambassador to Brazil Dr. Faisal bin Ibrahim Ghulam reviewed promising sectors highlighted by the National Industrial Strategy.

The two sides also discussed the significant opportunities in the mining sector and Saudi Arabia’s incentives to facilitate investors’ operations in the industrial and mining investment environment.

They also praised the positive development in economic and trade relations between the two countries,
resulting in several joint high-quality projects in the industrial and mining sectors. During the meeting, Alkhorayef congratulated Brazil on its presidency of the G20 for 2024.

Saudi Arabia’s non-oil exports to Brazil increased significantly by 5.65% between 2018 and 2023. In 2023, the value of Saudi exports to Brazil exceeded SAR3 billion, while imports from Brazil exceeded SAR13 billion.

The meeting between Alkhorayef, heading a delegation of the industrial and mining sectors, and his Brazilian counterpart is part of an official visit to Brazil and Chile between July 22 and 30 to enhance ties and attract investments to Saudi Arabia’s industrial and mining sectors.

Source: Saudi Press Agency