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Gulf country has USD 5 billion invested in Brazil

26 de setembro de 2017

São Paulo – Qatar has USD 5 billion invested in Brazil, according to Mohammed Alhayk, ithe Qatari ambassador in Brasília. He spoke at a seminar this Tuesday (26) at the offices of the Arab Brazilian Chamber of Commerce in São Paulo as part of a mission led by the Qatar Development Bank (QDB).

Alhayki said Qatar invests in Brazilian industries including finance, mining, agriculture, livestock and air travel. For example, the Qatar Investment Authority (QIA) owns a stake in bank Santander Brasil; and Qatar Airways Investment – an arm of carrier Qatar Airways – recently bought a stake in Latam, which resulted from a merger of Brazil’s TAM and Chile’s LAN airlines.

The diplomat told the executives in attendance that there are plans in place to increase gas sales from Qatar to Brazil. The Arab country already sells the product to Brazil, and talks are underway for shipping via Brazil’s Sergipe state to the southern states as well as Mato Grosso.

Alhayki told ANBA that Qatar is the world’s leading supplier of gas, and that Brazil is looking to diversify its suppliers. He said Qatar is very happy to sell to Brazil, since it’s a major market. “This is an excellent opportunity,” the ambassador said.

The seminar was attended by delegates from the QDB, from nine Qatari companies and from Brazilian ones. “You came to the right place if you’re looking to do business and to invest,” ambassador Alhayki told the Qatari delegates. He said Brazil is a hospitable country that’s home to an Arab community of roughly 10 million, which amounts to about 5% of its total population. He also said that this community actively participates in the country’s economy.

The diplomat said the QDB’s mission will boost trade and partnerships between Qatar and Brazil. Last year saw Qatar sell USD 532 million worth of goods to Brazil – mostly fertilizers, fuel, plastics and chemicals. Sales from Brazil to Qatar amounted to USD 378 million, the bulk of which came from meats and vehicles, according to the Brazilian Ministry of Industry, Foreign Trade and Services.

*Translated by Gabriel Pomerancblum