Saudi-Brazil deals part of SAGIA strategy
15:54, 22 May 2009
JEDDAH. May 22. KAZINFORM The recent trade agreements between Saudi Arabia and Brazil ? which came with Brazilian President Luis Inacio Lula da Silva?s landmark visit to the Kingdom recently ? is an example of the Saudi Arabian General Investment Authority?s (SAGIA) agenda to implement its so-called 10X10 initiative, which aims to make Saudi Arabia among the top ten most competitive nations by 2010; Kazinform refers to the Arab News.
Lula da Silva?s visit to the Kingdom resulted in the two countries agreeing to use each other as regional trading hubs: Brazil for the Kingdom?s efforts in Latin America and Saudi Arabia for Brazil?s strategy in the Middle East and North Africa region; Kazinform cites the Arab News.
See www.arabnews.com for full version