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Saudi Arabia eyes investments in Brazil and beyond

Content type:: Expert Briefings
Location:: BRAZIL
Keywords associated with this article:: Geographic: Brazil LA/C Latin America Saudi Arabia

Topical: economy industry international relations foreign investment foreign policy foreign trade aerospace agriculture climate energy mining oil renewable energy
ISSN:: 2633-304X
Citation:: Oxford Analytica (2024), "Saudi Arabia eyes investments in Brazil and beyond", Expert Briefings.
https://doi.org/10.1108/OXAN-DB288029

Tuesday, July 2, 2024

Significance

Saudi Arabia is highly dependent on food imports and has designated Brazil a strategic partner for food security, while Brazil is keen to secure investments to develop its renewable energy and high-tech manufacturing sectors.

Impacts

Even if Lula succeeds in attracting more Saudi money, it will be insufficient to drive his wide-ranging industrial policy on its own.
Closer relations with Riyadh could spark opposition from rights groups, notably LGBT ones, given the kingdom’s record of repression.
Brazilian companies could use the Saudi market as a gateway to the wider Middle East.
Expansion of the critical minerals and green hydrogen sectors in Brazil could cause environmental concerns.

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