Saudi Arabia, Brazil Hope to Kindle Investment With Deeper Ties [Financial Post (Toronto, Ontario, Canada)]
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BRF S.A. (BRFS)
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Source: Financial Post
Saudi Arabia and Brazil are thousands of miles apart, but fate is bringing them closer than ever. Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — One is a desert kingdom weaning itself off fossil fuels. The other a lush agricultural powerhouse laden with minerals. Saudi Arabia and Brazil are thousands of miles apart, but fate is bringing them closer than ever. Their relationship started with chicken exports in the 1970s. And now the bond is becoming a way for the Global South heavyweights to diversify their trade ties and insulate their economies from geopolitical risk. Article content While China and the US are far bigger partners for each, two-way trade between the kingdom and the Latin American giant totaled about $7 billion last year. The Gulf Research Center, a Saudi non-profit, sees that rising to $10 billion by 2030 as the relationship deepens, with Brazil consistently showing it's will
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