Saudi Arabia is making strategic moves into the economic landscapes of Brazil and Chile, led by Minister Bandar Ibrahim Alkhorayef and Deputy Khalid Saleh Al-Mudaifer. From July 22-30, the delegation aims to strengthen diplomatic ties and attract investments in the mining and industrial sectors, with plans to visit major cities like São Paulo, Brasilia, Rio de Janeiro, and Santiago.
In Brazil, key meetings are scheduled with the Brazilian Mining Association, Vale, and BRF SA, while in Chile, partnerships with mining giants Codelco and Antofagasta are on the agenda. The Saudi-Brazilian Coordination Council has been established to deepen bilateral cooperation, and a recent Brazilian-Saudi Investment Forum resulted in 25 memorandums of understanding across sectors like petrochemicals, health, and defense, amounting to $3.5 billion in investments.
This strategic push aligns with Saudi Vision 2030’s goal of diversifying the kingdom’s economy beyond oil, positioning Saudi Arabia as a key player in global energy transitions. By leveraging their extensive geological data and mineral resources valued at $2.5 trillion, Saudi Arabia aims to secure a sustainable future in global markets.
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