Page 280 - SUPERBRIDGE PR REPORT - JUNE to OCTOBER 2024

Additionally, Qatar Airways has expanded its routes to key Latin American destinations. This includes
Sao Paulo, Buenos Aires, and Lima, boosting connectivity and facilitating both business and tourism
flows.
Expanding financial spheres
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. It was able to do so as
it secured 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 experienced
explosive growth. There are over 722 active fintech startups in Brazil alone, and its market valuation
exceeds $45billion.
With the GCC countries expected to attract over $150billion in foreign direct investment (FDI) by 2025
and Latin America experiencing a resurgence in growth post-pandemic, the time is ripe for strategic
cooperation. The Economist Impact report highlights that 64 per cent of Latin American executives are
now looking to increase engagement with the GCC, driven by opportunities in sectors like agriculture,
renewable energy, and digital services.

SuperBridge Summit 2024
Highlighting the potential of both regions working together, the Dubai World Trade Centre (DWTC)
and the SuperBridge Council have announced the SuperBridge Summit 2024. The summit will take
place from 15 – 16 October at the Dubai World Trade Centre, in conjunction with GITEX Global, the
technology showcase. This confluence of events is expected to attract over 10,000 global business
leaders, entrepreneurs, and innovators to discuss emerging trends, share insights, and forge
partnerships that can drive mutual growth.
Trixie LohMirmand, executive vice president at the Dubai World Trade Centre
The SuperBridge Summit will provide a platform to explore the knowledge exchange between the two
regions. The GCC’s expertise in infrastructure development, particularly in large-scale road, energy, and
telecommunications projects, offers valuable lessons for Latin America, where infrastructure remains a
critical growth constraint. In turn, Latin America’s innovations in digital finance, agriculture technology,
and renewable energy align with the Middle East’s diversification goals and pursuit of sustainable
growth.

Trixie LohMirmand, executive vice president at the Dubai World Trade Centre noted: “The synergies
between the Middle East and Latin America are stronger than ever. The SuperBridge Summit 2024 will
provide an unprecedented opportunity for businesses to redefine their strategies, engage with new
partners, and capitalize on the vast potential these regions offer.”
Fernando X. Donayre, CEO of Inca Investments
Fernando X. Donayre, CEO of Inca Investments added: “We are witnessing a paradigm shift in global
trade and investment flows, where regions like the Middle East and Latin America are emerging as new
growth engines. The Summit is the ideal platform to connect, strategize, and foster partnerships that will
drive sustainable development for decades to come.”
Author

https://thefintechtimes.com/bridging-latam-and-gcc-economies-for-accelerated-financial-growth/