Even with MBS absent, Saudi Arabia and UAE poised to make deals at G20
Gulf states will look for agreements and trade deals with partners from South America and elsewhere ahead of US President-elect Donald Trump's inauguration in January.
DUBAI — The United Arab Emirates and Saudi Arabia will look to broaden their alliances during a meeting of G20 world leaders in Brazil this week in anticipation of Donald Trump's return to the White House.
The meeting being held in Rio de Janeiro, will be the last Group of 20 summit attended by President Joe Biden and also mark his only visit to South America during his presidency.
On Monday, UAE Crown Prince Sheikh Khaled bin Mohamed bin Zayed met with with Brazilian President Luiz Inacio Lula da Silva and witnessed the signing of preliminary agreements to "establish a joint mechanism aimed at promoting UAE investments in strategic sectors in Brazil," according to Emirati state news agency Wam.
The foreign affairs ministries of both countries also signed a memorandum of understanding to co-operate in Africa. The meeting also included an agreement between Abu Dhabi Customs and the Tax Authority of Brazil to "strengthen customs cooperation" and launch a "digital trade corridor" to streamline trade procedures.
