UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and leaders of Brazil and Paraguay, Luiz Inácio Lula da Silva and Santiago Peña, witnessed the signing of a joint declaration for cooperation on the Bi-Oceanic Corridor.
It befell on the sidelines of the COP28 summit being held in Expo City Dubai.
The challenge goals to boost regional integration and logistical effectivity between the UAE, Brazil, Paraguay, Argentina, and Chile.
It additionally focuses on attracting investments and producing funding alternatives in Latin America by way of the hall, thereby increasing regional commerce, and goals to extend the circulate of agricultural merchandise to Pacific Ocean ports and increase regional commerce and tourism.
Additionally, the challenge focuses on lowering container transportation prices, thereby diversifying regional markets and increasing commerce alternatives with Asia and different areas world wide.
The challenge contributes to enhancing financial competitiveness within the area by connecting the Atlantic and Pacific Oceans by way of the Brazilian port of Campo Grande, extending to Paraguay and northern Argentina, and reaching the Chilean port of Antofagasta, 2,400 kms away.
