Minister Fávaro highlights new opportunities for Brazilian agribusiness from official mission

To strengthen ties, establish cooperation, and access new markets for Brazilian agricultural products, Minister of Agriculture and Livestock Carlos Fávaro embarked on an official mission to Saudi Arabia and China on June 1st. The mission was led by Brazil’s Vice President and Minister of Development, Industry, Trade, and Services, Geraldo Alckmin. The Brazilian delegation included representatives from the Ministry of Agriculture's technical team, other state ministers, and business leaders, all committed to bringing new opportunities to Brazil. 

The mission began in Saudi Arabia with a meeting with Saudi Investment Minister Khalid Al Falih, along with business leaders and investment funds from both countries. Minister Fávaro noted that Saudi Arabia is Brazil's main partner in the Middle East. “In 2023 alone, Brazilian agribusiness exported $2.9 billion to Saudi Arabia, including poultry, sugar, beef, and grains. However, there are even greater opportunities, such as diversifying exports with coffee and fruits,” he said. 

In China, Minister Fávaro participated in the VII Plenary Session of the China-Brazil High-Level Coordination and Cooperation Commission (COSBAN) in Beijing, celebrating 50 years of diplomatic relations between Brazil and China. COSBAN is the primary mechanism for regular bilateral dialogue with China. During the session, eight intergovernmental agreements were signed, 30 outcomes were announced, and 11 private sector agreements were made across various areas. 

Among the signed agreements was the approval of sanitary and quarantine requirements for Brazilian pecans, allowing Brazil to export pecans to China. This market access is expected to generate business exceeding $1 million. 

Additionally, the Federal Government secured an agreement to promote Brazilian coffee in China’s largest coffee chain. Through this partnership, the company committed to actively promoting and selling Brazilian coffee to its customers and partners. The agreement includes the purchase of approximately 120,000 tons of Brazilian coffee, valued at around $500 million. 

“Three years ago, Brazil exported only $80 million worth of coffee to China. Last year, it jumped to $280 million. Now, this single company has formalized another $500 million. This creates opportunities for Brazilians, generating more jobs and income,” Fávaro explained. 

The Brazilian delegation also met with Dilma Rousseff, President of the New Development Bank (NDB), where $100 million was announced for for rebuilding the agricultural infrastructure in the state of Rio Grande do Sul, including storage and logistics projects. 

Minister Fávaro also attended the Brazil-China Business Seminar: The Next 50 Years, in Beijing. In his speech, he emphasized the importance of the meeting and Brazil's potential for producing sustainably. "President Lula is determined to strengthen diplomatic relations. The results are already evident. The advancement of commercial relations and business opportunities is bringing prosperity to both the Chinese and Brazilian people, positively reflecting on both economies," he noted. 

At the Asian Infrastructure Investment Bank (AIIB), Fávaro presented the National Program for the Conversion of Degraded Areas into Sustainable Agricultural and Forestry Production Systems. This Brazilian initiative aims to contribute to global food and nutritional security and address climate change. The goal is to attract increasing international support for the Brazilian program. 

At last, in a meeting with Chinese President Xi Jinping, Vice President Geraldo Alckmin shared his impressions. “We conclude this mission to China with very satisfactory results. We secured over R$ 24.6 billion in financing for various projects in Brazil, with a significant focus on rebuilding the state of Rio Grande do Sul,” Alckmin stated. 

During his visit, Brazil’s Vice President reinforced the commitment of President Luiz Inácio Lula da Silva’s government to sustainable development and environmental preservation, highlighting that Brazil is a stable country with a growing economy that has recently approved reforms, such as the tax reform, making investments in the country even more attractive. 

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