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    Saudi Arabia is casting its net far and wide in search for trade deals, with a special focus on the Americas.

    Trade with South American companies had been robust in 2022, with exports from Saudi Arabia rising to SAR 21.4 billion, according to the latest data from the General Authority for Statistics (GASTAT). Meanwhile, imports also increased to SAR 26.9 billion during that year compared to SAR 19.6 billion in 2021.

    In addition, exports to North America shot up to SAR 98.27 billion in 2022, compared to SAR 60.6 billion in the previous year. Imports from the region also jumped marginally to SAR 69.8 billion from SAR 68 billion in 2021.

    Of course, the United States is Saudi Arabi’s stable and long-term partner.

    Over the past decade, the trade and investment ties between the US and the kingdom have undergone significant shifts influenced by economic, geopolitical, and technological factors. One of the key aspects of their trade relationship has been the exchange of energy resources.

    The United States has been a major importer of Saudi oil, although its dependence has decreased in recent years due to its own increased domestic production through shale oil extraction technologies. Nonetheless, Saudi Arabia remains an essential player in global oil markets, and its co-operation with the US in stabilising oil prices and ensuring supply security has been pivotal.

    Beyond energy, bilateral trade has extended to various sectors such as technology and finance. In terms of investment, both countries have sought to deepen economic ties. Saudi Arabia has invested in various sectors of the US economy, including technology, entertainment, and real estate. On the other hand, American companies have pursued opportunities in Saudi Arabia, particularly in sectors undergoing modernisation and diversification as part of the Vision 2030 initiative, such as tourism, entertainment, and renewable energy.

    In 2023, Saudi Arabia enjoyed a trade surplus with the US of around USD 2 billion. Saudi Arabia shipped goods worth USD 15.8 billion to the US and imported USD 13.8 billion, according to the US Census Bureau.


    Another key trade and investment opportunity for Saudi Arabia is Brazil, which is the second biggest export destination for Saudi companies after the US in the Americas.

    The G20 countries have strong synergies as Brazil is a major exporter of agricultural products, including soybeans, meat, and sugar, which are in high demand in Saudi Arabia due to its large population and food consumption needs. In return, Brazil imports oil and petroleum products from Saudi Arabia, meeting a significant portion of its energy requirements.

    Beyond agriculture and energy, bilateral trade also encompasses other sectors such as machinery, chemicals, and manufactured goods. Both countries have sought to diversify their trade baskets to capitalise on emerging opportunities and strengthen economic ties.

    In terms of investment, there has been increasing interest from both sides. Saudi Arabia, through its sovereign wealth funds and private investors, has shown interest in investing in Brazil's infrastructure, particularly in sectors such as transportation, energy, and logistics. Brazil, with its vast natural resources and growing consumer market, presents attractive investment opportunities for Saudi investors looking to diversify their portfolios.

    Conversely, Brazilian companies have also sought opportunities in Saudi Arabia, particularly in sectors such as construction, engineering, and agriculture. Brazilian multinational companies have established presence in Saudi Arabia, leveraging their expertise to contribute to the kingdom's development plans and projects.

    To foster wider economic co-operation, Saudi offcials have embarked on a tour of several Latin American nations from July to August 2023.


    The kingdom's strategy extends beyond engagement solely with major corporations, as evidenced by the establishment of a USD 5 million fund to support small and medium enterprises (SMEs) in Paraguay. This fund aims to provide crucial financial backing for SMEs in Paraguay, where the majority of businesses lack access to credit, hindering their ability to invest and grow.

    In Colombia, despite the absence of a Saudi embassy, significant exports to Saudi Arabia, primarily by SMEs, underline the potential for smaller companies to penetrate the Saudi market. Similar opportunities exist in Argentina and Brazil, where SMEs are gradually increasing their presence in trade with Saudi Arabia, particularly in sectors such as agribusiness.

    The Arab chambers of commerce in Brazil and Colombia are facilitating partnerships between Arab businesses and local SMEs, offering avenues for collaborative ventures and market entry strategies.

    Meanwhile, in Argentina, opportunities abound for SMEs in various industries, including agribusiness, pharmaceuticals, and medical products.

    To maximise the impact of Saudi investments, there is a growing emphasis on fostering joint ventures with local partners, both large corporations and smaller enterprises. This collaborative approach not only expands business opportunities but also strengthens bilateral commercial relationships between Saudi Arabia and Latin American nations.


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