Sao Paulo’s Trade Promotion Office opened in Dubai on Monday will further enhance Brazil’s business relations with the entire Middle East, the Governor of the state said.
‘It is our strategic position and a strategic decision,, the reason we chose Dubai to open this office is because of the UAE’s importance in the Middle East and Africa region.’
Sao Paulo had opened its first overseas in Shanghai in China in August 2019. “This is our second overseas office that will help attract investments from the entire Middle East to Sao Paulo,” the 37th Governor of Sao Paulo added.
The Dubai office will facilitate investment relations between private sector companies in Sao Paulo and the UAE, said Doria who is on a 6-day official visit to the UAE with a large business delegation that holds meetings with companies and local investors in Abu Dhabi and Dubai.
Sao Paulo’s economy is growing almost three times faster in comparison to Brazilian national economy, he pointed out. According to Investe Sau Paulo, the state’s investment promotion agency, Sao Paulo accounted for 31 percent of Brazil’s GDP and made up 32 percent of domestic income generated in Brazil’s service sector in 2017.