São Paulo – Relations between Latin America and the United Arab Emirates will be the subject of international discussion next week. A roundtable with a live online broadcast will bring together executives and authorities from four countries to debate the economic opportunities between the two regions. The event takes place on June 9, at 11 am BRT (6 pm GST). The Arab Brazilian Chamber of Commerce (ABCC) will participate with its Dubai office head Rafael Solimeo. Registration is open and free of charge. Pictured above, the city of Dubai.
The roundtable will also include the trade commissioner at the Chilean Embassy in the UAE, Carlos Salas, and the former Costa Rican minister of Foreign Affairs, Manuel Gonzalez. The mediator will be Lorenzo Jooris, CEO of Creative Zone, from the UAE, organizer of the meeting. They will discuss trade cooperation between the UAE and Latin America, potential investment opportunities for companies, and the industries that are the driving force in relations between the two regions.
Latin America and the Caribbean have a significant trade relationship with the Arab world. Last year, exports to countries in the Arab League, including the UAE, totaled USD 21.87 billion. They dropped 28.6% over the previous year but represented 4% of all Arab imports. The main products exported by Latin America to the Arab countries in 2020 were meat, cereals, sugar, ores, and natural or cultivated pearls. The main exporting countries to the Arabs were Brazil (55% of the total exports from the region), Argentina (19%), Mexico (8%), Peru (4%), and Guatemala (3%).
On the other hand, the Arab countries exported USD 8.1 billion to Latin America and the Caribbean in 2020, a contraction of 21.7% compared to 2019 (0.9% of all imports to Latin America and the Caribbean in the period). The main products exported by the Arab countries to the region were fertilizers, mineral fuels, aluminum, plastics, ships, boats, and floating structures. The leading Arab suppliers to Latin America and the Caribbean were Saudi Arabia (23% of total exports), Morocco (22%), the UAE (17%), Algeria (12%), and Qatar (8%).
Brazil
Brazil is, in Latin America, one of the major players in trade with the UAE. In the webinar, Solimeo will present opportunities for Brazilian companies in the country. “Recently, I participated in a roadshow where I was able to get to know the seven emirates and understand a little of their peculiarities, differences, and similarities with Brazil so that we can strengthen our relationship. I will talk a little about my visits and the opportunities for Brazilian companies so that they can establish themselves, boost business and use the UAE as a hub not only for the region but for the whole world,” he said.
Last year, among the Arab countries, the UAE was the leading destination for Brazilian exports, with 17.9% of the total sales. Exports from Brazil to the Arab countries totaled USD 11.4 billion in 2020, a 6.6% decrease compared to 2019. The main products exported by Brazil to the Arab countries in the period were meat, sugar, ores, cereals, and natural or cultivated pearls.
About
Creative Zone specializes in incorporating companies abroad and has already helped over 44,000 customers establish their businesses in the UAE, offering customized services. It works with all free trade zones in the UAE.
Quick facts:
UAE – Latin America business roundtable
June 9
11 am (BRT)
Free
Translated by Elúsio Brasileiro