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14/03/2017 - 19:17hs

São Paulo governor hosts delegation of Abu Dhabi fund

The São Paulo governor has a meeting scheduled for this Wednesday (15) with representatives from Abu Dhabi Investment Authority at Palácio dos Bandeirantes, the seat of the state government.

São Paulo – Representatives from the Abu Dhabi Investment Authority (ADIA), the largest sovereign fund of the United Arab Emirates, will fulfill a two-day schedule in the city of São Paulo this Wednesday (15) and Thursday (16). Included is a meeting with governor Geraldo Alckmin (from political party PSDB) Wednesday afternoon at Palácio dos Bandeirantes, the seat of São Paulo government, according to information made public by the Special Secretary for International Affairs of São Paulo State.

The fund’s mission is visiting São Paulo to get to know the macroeconomic scenario and outlooks of the Brazilian market and will probably visit other cities in Brazil. The fund owns assets throughout the world in sectors such as real estate, infrastructure, commodities, and the financial market, among others. ADIA has a stake at the luxury hotel Four Season being built in São Paulo.

At Palácio dos Bandeirantes, the ADIA delegation will be welcomed by Saulo de Castro, Secretary of State, Ana Paula Fava, head of the Special Advisory on International Affairs, João Carlos de Souza Meirelles, state secretary of Energy, and Sérgio Costa, director of Business Development of Investe São Paulo, plus the governor.

The governor’s agenda also includes a meeting with the minister of Foreign Affairs and International Cooperation of the United Arab Emirates, Abdullah Bin Zayed Al Nahyan, next Tuesday (21). The mission of the fund’s representatives to Brazil is part of the agenda of the minister’s visit. He should also meet with federal authorities in Brasília.

According to data by the Ministry of Industry, Foreign Trade and Services (MDIC), exports by São Paulo state to the UAE totaled USD 747.6 million last year and USD 298.2 million in January and February of this year. More than half of last year’s trade involved sugar, but also other products such as aerial vehicles, fuels, polymers, gold and meats.

The import of products from the UAE by São Paulo state is much less, totaling USD 57.4 million last year and USD 2.4 million in the first two months of 2017. The 2016 trade involved products such as sulfur, polymers, books, plastics, among others.

*Translated by Sérgio Kakitani

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