Lulu Saudi Hypermarket to Boost Bilateral Commercial Ties Between Saudi Arabia and Brazil
In a significant development, LuLu Saudi Hypermarket is set to take a leading role in strengthening the commercial relations between the Kingdom of Saudi Arabia and the Federative Republic of Brazil. This announcement was made during a visit by the Vice-President of Brazil to Saudi Arabia.
During the visit, a Memorandum of Understanding (MOU) was signed between ApexBrasil, the Brazilian Trade and Investment Promotion Agency, and LuLu Hypermarket, KSA. The aim of this MOU is to increase awareness of Brazilian produce in the market and boost the consumption of Brazilian products in Saudi Arabia. LuLu’s extensive retail platform will be utilized to achieve these objectives.
The MOU was signed by Jorge Ney Viana Macedo Neves, the President of ApexBrasil, and Shehim Mohammed, Director of Lulu Hypermarkets, in the presence of Geraldo Alckmin, the Honorable Vice President and Minister of development, industry, trade, and services in Brazil, and Khalid Al-Falih, the Minister of Investment in Saudi Arabia.
The visit of the Brazilian Vice President to Saudi Arabia, accompanied by a delegation of ministers and businesspeople, aims to strengthen the ties between the two countries and explore new markets for Brazilian goods. Brazil is particularly interested in tapping into the agricultural and FMCG sectors in Saudi Arabia, leveraging its strong position in global agricultural trade.
Speaking on the occasion, Shehim Mohammed expressed his enthusiasm for the partnership, stating, “We welcome this opportunity to be a commercial partner in the promising bilateral relations between Saudi Arabia and Brazil. Brazilian products, especially in the agricultural and meat sectors, have always enjoyed an excellent reputation. With advancements in transportation and food technology, we anticipate unprecedented access to a variety of Brazilian goods through LuLu in the near future.”
