Domingo Brief — Chilean FDI, Emirati-backed biofuel, & Bad Bunny breaks curfew

Each Sunday, take two minutes to catch key stories and opportunities shaping Latin America.

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🇧🇷 Brazilian President Lula da Silva visited the United Arab Emirates (UAE) as part of his mini-world tour. The two countries signed a number of agreements promoting student exchanges and diplomatic training. Meanwhile, Mubadala Capital, an Emirati state-owned investment firm with an office in Rio de Janeiro, has committed to investing over $2.4B into Brazilian biofuel, in the process doubling the value of local Emirati investments.

Latinometrics: The wealthy UAE represents one Brazil’s 3 largest Middle Eastern trade partners. Bilateral trade rose 74% last year to reach $5.7B, including a $739M surplus for Brazil. Agribusiness (soy, halal meat, etc.) represents nearly 60% of Brazilian exports to the UAE.

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🇨🇱 Chile’s foreign direct investment (FDI) reached $20.86B in 2022, a 31% increase over the previous year. This is Chile’s highest level of FDI since 2014, and represents a figure 50% larger than the average of the last 5 years, as well as 46% higher than the average of the last 20 years.

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