Trade relations expand annually with the Republic of Brazil in various fields, especially on the economic front. Both friendly countries play a large and important role in strengthening bilateral ties. The goal is to make up for missed opportunities and build on initiatives identified by the two governments in promising areas of the relationship.
This was confirmed by Ligia Maria Shearer, the Brazilian Ambassador to the Sultanate of Oman, in her speech recently on the occasion of her country’s 200th Independence Anniversary. In her speech, the Ambassador expressed her happiness as the head of the Brazilian mission in Oman, stressing that the two countries support peace and security in the world as the underlying principle of their commitment to international law, and to defend the precious principle of solidarity between nations and peoples.
The close relations between the two countries and cooperation in a number of important areas in investment, trade and agriculture issues give a greater opportunity to explore the full potential of the relationship in the future. Economic data indicates that the trade exchange between the two countries amounted to about $2.240 billion in 2021, with both countries pointing to the potential for enhanced trade in a number of areas. Brazilian investment in Oman is concentrated in Vale Oman set up in Sohar with an investment of more than $1 billion.
In recent years, a number of officials have paid high-level visits to each other’s capitals, with plans for more visits in the near future. Significantly, the Brazilian Embassy in Muscat is the only embassy of a Latin American country in the Sultanate of Oman. Likewise, the Omani embassy in Brazil is the Sultanate’s only embassy in Latin America.
Brazil enjoys a large economy and is one of the five countries forming the 'BRICS' group, which has human capabilities, financial, industrial, agricultural and technical capabilities especially in the digital field.
Brazil is a land of innovation, production and talent, while it has green energy projects accounting for 45 per cent of the country’s total energy output. Brazil plans to be a strong hub for green hydrogen that can be produced sustainably. It also enjoys green and high-tech spaces, especially in the agricultural field where food is produced sustainably for 215 million Brazilians, in addition to benefiting more than one billion other people around the world from. It also has the Amazon rainforest, which is home to a rich biodiversity.
There are many areas that Oman can benefit from through cooperation with Brazilian. These areas include urban planning and development, preserving heritage sites, sustainable agriculture, energy, industry and tourism. The country has long highways, transportation, communications, import and export capabilities.
The next steps will determine the directions with which we must find cooperation, especially since the Sultanate is working hard and efficiently in establishing projects that accelerate the policy of economic diversification that we aim to achieve.
haiderdawood@hotmail.com
The author is a Muscat-based economic analyst who previously worked for the CBO and OCCI.
Oman Observer is now on the WhatsApp channel. Click here
