Muscat: The Ministry of Commerce, Industry and Investment Promotion organized a visit to the Federative Republic of Brazil, as part of ongoing efforts to enhance economic and investment cooperation between the Sultanate of Oman and Brazil and explore new areas of partnership in priority sectors for both countries.
According to Oman News Agency, the visit featured the “Advantage Oman” business dialogue and a number of meetings with various relevant Brazilian entities, including the Arab-Brazilian Chamber of Commerce and Industry. The visit also included bilateral meetings with several leading Brazilian companies in the fields of mining, logistics, manufacturing, agriculture, and renewable energy, aiming to showcase the investment opportunities available in Oman and highlight the economic advantages and infrastructure that position Oman as a regional business and investment hub.
The delegation also conducted a field visit to the iron ore mines of Vale, one of the world’s largest mining companies, where they observed the industrial practices and modern technologies the company employs in operations and environmental sustainability, and explored potential cooperation in mining, minerals, and technical knowledge exchange.
Ula Al Sulaimani from the Market Targeting Team at “Invest Oman” emphasized that this visit aligns with Oman’s approaches to enhance international economic cooperation and diversify investment partnerships, in line with the objectives of “Oman Vision 2040” to build a competitive and sustainable economy that contributes to diversifying national income sources, supports private sector empowerment, and attracts high-value-added qualitative investments.
Brazil is one of the world’s prominent emerging economies, with its exports valued at approximately USD 337 billion in 2024, while imports reached USD 263 billion, according to recent economic reports. China and the United States are among its most important trading partners, while its trade relations with Gulf Cooperation Council (GCC) countries are experiencing rapid growth, with its exports to GCC countries reaching about USD 10.7 billion in 2024.
As for bilateral relations between Oman and Brazil, Brazil’s exports to Oman increased by 16% to reach RO 547 million, while its imports from Oman amounted to about RO 28.8 million. Minerals, especially iron, represent the largest share of trade between the two sides, with promising opportunities to expand cooperation in agri-food products, industrial goods, energy, and logistics.
The team presented investment opportunities in Oman’s special economic zones and free zones, particularly in Duqm, Sohar, and Salalah, which are strategic platforms for attracting Brazilian investments in storage, supply chains, food industries, and clean energy, thanks to Oman’s distinguished geographical location connecting Asian, African, and Arab markets.