UAE-Brazil bilateral trade rises 33% in first 8 months of 2021

UAE-Brazil bilateral trade rises 33% in first 8 months of 2021

Dubai / WAM

The economic relations between Brazil and the United Arab Emirates have successfully overcome the negative impacts of the global pandemic, with bilateral trade witnessing a 33 percent increase in the first eight months of 2021, compared to the same period last year, according to a top Brazilian official. In an exclusive interview with Emirates News Agency (WAM), Brazilian Vice President Hamilton Mourão added that the bilateral investments also had an upswing, with UAE’s investments in Brazil exceeding $10 billion. “We have very solid economic relations which can be seen in the growing flows of trade and investments. I see it as extremely positive. The UAE is Brazil’s third-largest economic partner in the Middle East in 2020, with bilateral trade reaching $2.8 billion,” revealed the Vice President who is on a four-day working visit to the UAE. “This year we can see a strong increase in bilateral trade that reached $1.8 billion in the first eight months (until August), it is plus 33 percent compared to the same period last year. So we are progressing (despite the global pandemic)”. As WAM reported earlier the Brazil-UAE bilateral trade in 2018 stood at $2.6 billion, which went up to $2.81 billion