Organized by the Dubai World Trade Centre (DWTC) and the SuperBridge Council, the SuperBridge Summit 2024 is poised to be a crucial platform for establishing new trade and investment partnerships between Latin American and Middle Eastern countries. This event aims to deepen collaboration and unlock the economic potential between these dynamic regions.
Strengthening Bilateral Investments and Partnerships
Major companies from Latin America and the Middle East increasingly recognize the strategic importance of these partnerships. For instance, in 2023, Brazil’s BRF announced an additional $200 million investment to expand its poultry processing operations in Saudi Arabia. This expansion reinforces its position as the leading supplier of halal meat to the region. Meanwhile, Argentine agribusiness giant Adecoagro signed a $150 million agreement with the UAE’s Al Dahra Group in 2022 to supply grain and dairy products, highlighting the growing agricultural ties between the regions.
A New Frontier for Digital Economy and Financial Services
The financial and digital sectors are also seeing substantial cross-regional activity. First Abu Dhabi Bank has intensified its efforts to penetrate the Latin American financial markets, securing regulatory approvals to offer full-fledged banking services in Brazil and Mexico by 2024. This reflects the GCC’s growing interest in Latin America’s fintech ecosystem, which has seen explosive growth, with over 722 active fintech startups in Brazil alone and a market valuation exceeding $45 billion.
Recent High-Profile Engagements and Future Prospects
Recent high-profile deals highlight the strategic potential of these partnerships. For example, DP World, the global logistics powerhouse headquartered in the UAE, recently collaborated with Brazilian railway operator Rumo to build a terminal at Brazil’s Santos port – one of the largest ports in Latin America, at an estimated cost of $500 million. Additionally, Qatar Airways has expanded its routes to key Latin American destinations such as Sao Paulo, Buenos Aires, and Lima, boosting both business and tourism flows.
The SuperBridge Summit 2024, taking place from October 15-16 at the Dubai World Trade Centre, will be a vital platform for discussing emerging trends, sharing insights, and forming strategic partnerships between Latin America and the Middle East. The event is expected to attract over 10,000 global business leaders, entrepreneurs, and innovators.
