Page 27 - SUPERBRIDGE PR REPORT - SEPTEMBER 2024

9/25/24, 2:10 PM SuperBridge Summit 2024 to find new pathways for trade
SuperBridge Summit 2024 To Find New Pathways For Trade

COMMERCIAL NEWS

Sep 24, 2024 10:32 AM

As Latin America and the Middle East navigate an increasingly interconnected global economy, the SuperBridge
Summit 2024 is set to play a pivotal role in forging new trade and investment partnerships between these dynamic
regions.

Organised by the Dubai World Trade Centre (DWTC) and the SuperBridge Council, this year’s Summit will convene
business leaders, investors, and policymakers to explore opportunities for deeper collaboration and to unlock the
untapped economic potential that exists between the Gulf Cooperation Council (GCC) countries and Latin America.

Recent data reveals a strong upward trend in trade between the GCC and Latin America. According to the
International Trade Center's 2022 Trade Map, GCC countries exported goods worth $10.84 billion to Latin America in
2022. These exports primarily consisted of mineral fuels, mineral oils, distillation products, fertilisers, aluminium, and
related products, plastics, and related items, as well as electrical machinery and equipment. Conversely, imports
from Latin America totalled $21.25 billion, with major items including natural or cultured pearls, precious metals,
meat, edible meat offal, ores, slag, ash, cereals, sugar and sugar confectionery. Notably, Brazil continues to play a
critical role as the GCC’s main trade partner within Latin America, accounting for 61.61% of GCC exports and
50.01% of imports.

Strengthening bilateral investments and partnerships
Major companies from Latin America and the Middle East are increasingly recognising the strategic importance of
these partnerships. For instance, in 2023, Brazil’s BRF announced an additional $200 million investment to expand

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