The UAE and Brazil have entered into a partnership to exchange knowledge and expertise about the economy as part of the Emirates' government experience exchange programme.
The partnership was unveiled during a visit by a Brazilian official delegation to the UAE, according to a statement by the UAE Ministry of Cabinet Affairs on Sunday.
“The partnership will enable the concerned teams in the UAE and Brazil to learn more about the best government expertise and practices, and also highlight the investment opportunities available to businessmen from both countries, in order to achieve a significant growth leap in economic and trade co-operation relations between them,” Minister of Economy Abdulla Bin Touq said.
“It will also explore new paths for exchanging knowledge regarding government action and sustainable economic development.”
The UAE and Brazilian delegations exchanged best practices in key areas of economic policy and strategy, including foreign trade, investment, economic development, intellectual property, anti-money laundering and competition, the ministry said.
Brazil is the UAE's top trading partner in Latin America and ranks second only to the US among the UAE's most important trading partners in the Americas.
The Emirates’ non-oil trade with Brazil reached $4.3 billion last year, an annual growth of 32 per cent, according to figures from the UAE's Ministry of Economy.
The two countries currently collaborate in vital sectors such as industry, transport, shipping, storage, infrastructure, construction, port management, energy, mining, banking and finance, and property.
The government experience exchange programme is a knowledge-sharing platform aimed at transferring the UAE's experience and best practices in the field of government development and modernisation to other countries, according to its website.
The programme was launched in 2018 by the Prime Minister’s Office at the Ministry of Cabinet Affairs.
It has launched partnerships with more than 30 countries.
Since the programme’s launch, the UAE government has signed agreements with participating countries to build institutional capacities for government development. These countries include Jordan, Iraq, Sudan, Greece and Spain, among others.