The 22 Arab countries are now the fourth biggest export market for Brazil, with bilateral trade agreements between the resource-rich South American country and various actors in the Gulf Cooperation Council (GCC) and wider Middle East.

According to Brazzil, flagship development initiatives such as the Growth Acceleration Programme - which centres on education, health, energy, infrastructure, urbanisation and sanitation - have made Brazil a stable and attractive trade partner for many Arab states.

The paper goes on to state that there is a strong desire among GCC members to diversify their economic base using revenues from the regional oil and gas industry.

On the domestic front, Brazil's state-owned firm has also invested heavily in developing social, cultural, sport and environmental projects, including various training and development initiatives that will promote inclusion in the country's economic success.

The company spent $286 million promoting some 2,300 development projects last year alone.

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