Brazil: Relations with the UAE and Halal tourism
According to Comex do Brasil and information made available by the Brazilian Ministry of Foreign Affairs, between 2000 and 2016, trade between Brazil and the UAE reached a growth of 785% — an amazing figure. In 2016, the volume of trade was US$2.6 billion. The UAE and Saudi Arabia are the main importing countries of Brazilian products.
The UAE through sovereign funds is a relevant investor in Brazil. Estimates indicate that investments from the UAE in Brazil are approximately US$5 billion.
In turn, the UAE is a sort of gateway for Brazilian companies interested in creating commercial relationships with countries in the Middle East. There are more than 30 Brazilian companies having offices in the UAE.
The relations between Brazil and the UAE are so relevant that the Brazilian Agency for the Promotion of Exports and Investments (Apex-Brasil) has an office in Dubai aiming to promote Brazilian exports in the Middle East and attract investments to Brazil.
Moreover, the UAE last March has decided to open a general consulate in the city of Sao Paulo. This consulate is the first diplomatic office of the UAE not located in Brasília, the Brazilian federal capital city.
Turning to a different matter, I have already raised in my past articles that investments in Brazil through instruments like Musharakah should be evaluated for its feasibility. This possibility must be raised again when one thinks, for example, of Halal tourism.
Brazil is an important destination for tourists to South America. The Brazilian northeastern region has very beautiful beaches and excellent hotels. Moreover, due to its close geographical position to the equator line, sunny and warm days are part of the scenario. Bearing all these pieces of information in mind, one should think why this Brazilian region should not also be considered a destination for Halal tourism. The country is not a Muslim-majority country, but specific Halal hotels could be considered — an opportunity for investors?