The UAE is Building Bridges with Latin America
Next year marks 50 years of formal diplomatic relations between Abu Dhabi and Brasília which have flourished on key issues ranging from trade and investment to environmental conservation and international security. As part of its building bridges foreign diplomacy, the UAE is actively looking to Latin America to forge new, positive relations and collaboration opportunities.
Earlier this month, a UAE delegation led by HE Reem Al Hashimy, Minister of State for International Co-operation, is undertaking a diplomatic tour of several countries in Latin America, showcasing its diplomacy in action and building on recent discussions and diplomatic visits with regional leaders.
There are clear areas of synergy between Abu Dhabi, Brazil and wider Latin America. The election of Luiz Inácio da Silva as President last year heralded a shift in environmental thinking following the previous administration's sustainability track record.
The delegation's visit serves as an opportunity to build on existing co-operation and investments in the country, including those prioritising clean energy, an area Abu Dhabi has committed to investing in earlier this year. Growing Brazil/UAE relations will help tackle major global challenges and also benefit Brazilians in industries from fishing to finance. Brazil has found itself a true partner in international diplomacy.
Over 10,000 Brazilians now reside in the UAE and 30 Brazilian companies have set up shop throughout the country, leveraging enhanced relations between our countries. The Emirates is also the main destination of a number of Brazilian products in the Arab world, with exports increasing each year.
What is clear is that our citizens are benefitting more and more each day from strong relations between Brasília and Abu Dhabi.
In a year that sees Dubai host the COP28 climate summit, it is likely that conversations will be focused on environmental conservation and strategic partnerships concerning sustainability, an area in which Abu Dhabi has significant investments (including in the region) especially through government-owned renewable energy company Masdar. Abu Dhabi has made clear its desires to hold a transformative COP of action following years of foot dragging by the international community.
The country has taken massive strides to diversify its economy away from fossil fuels and invest in cleaner alternatives, leveraging its knowledge-based economy and unique geographical position.
Such investments will not, however, be limited to Brazil as it looks clear that the UAE is actively seeking enhanced partnerships with others in the region too, following a string of recent official visits and partnerships.
Various leading figures in Latin America, from President Lula to Costa Rica's Minister of Foreign Affairs, Arnoldo Andre, have recently returned from trips to the UAE capital, with foreign investment and enhanced bilateral relations frequently on the agenda.
Foreign direct investment (FDI), especially that which promotes sustainable development, is being warmly received by regional powers seeking to advance socioeconomic development as they grapple with major issues like inflation. Indeed, the UAE already accounts for 10 percent of Brazil's entire FDI inflows and 77 percent of GCC investments in Latin America (between 2016 and 2021).
Such growing partnerships are naturally a two-way phenomenon, with GCC imports of Latin American products also increasing following the pandemic. What is abundantly clear is that growing relations and partnerships between South America and countries like the UAE should not only be welcomed, but also championed. The correlation between strategic FDI and enhanced domestic conditions has been highlighted by bodies such as the Economic Commission for Latin America and the Caribbean (ECLAC) repeatedly.
Abu Dhabi's foreign diplomacy objectives thus firmly align with the ambitions of Brazil, benefitting citizens across many sectors.
Our enhanced relations combined with the UAE's growing role on the international political stage, will give a much-needed voice to those in the region previously unheard and can help spearhead much needed change.
From mangrove conservation efforts, to green energy collaboration and infrastructure investments, Brazilian/UAE collaboration streams are set to increase, and business leaders, citizens and governments alike should not only welcome, but champion these developments.
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* This is a contributed article and this content does not necessarily represent the views of latinpost.com