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9/25/24, 2:11 PM SuperBridge Summit 2024: Enhancing Middle East-Latin Trade
items like pearls, precious metals, meat, cereals, and sugar. Brazil remains the dominant trade
partner, accounting for 61.61% of GCC exports and 50.01% of imports from Latin America.

Strengthening Investment and Corporate Ties

Latin American and Middle Eastern companies are increasingly recognizing the value of strategic
partnerships. Notably, Brazil’s BRF invested an additional $200 million in 2023 to expand poultry
operations in Saudi Arabia, reinforcing its leadership in halal meat supplies. This comes as Saudi
Arabia seeks to bolster local food production by 50% by 2030, a vision supported by Latin
American agribusiness giants. Similarly, Argentina’s Adecoagro signed a $150 million agreement
with the UAE’s Al Dahra Group in 2022 to supply grain and dairy products, further enhancing
agricultural ties.
Middle Eastern corporations are also expanding their reach into Latin America. UAE-based
logistics leader DP World recently teamed up with Brazilian railway operator Rumo to construct
a terminal at Brazil’s Santos port, one of the largest in the region, at an estimated cost of $500
million.

Digital Economy and Financial Services: New Horizons

The digital economy is emerging as a focal point for cross-regional collaboration. First Abu
Dhabi Bank has secured approvals to launch full banking services in Brazil and Mexico by 2024,
signaling growing interest in Latin America’s booming fintech sector, which boasts over 722
startups in Brazil alone with a market value exceeding $45 billion. The SuperBridge Summit will
also examine opportunities for knowledge exchange between the regions, with the GCC’s
expertise in infrastructure development complementing Latin America’s innovations in digital
finance, agricultural technology, and renewable energy.

A Crucial Time for Collaboration

As both the Middle East and Latin America aim to diversify their economies, the SuperBridge
Summit 2024 will serve as a vital platform for facilitating partnerships. With the GCC projected to
attract $150 billion in foreign direct investment (FDI) by 2025, and Latin America experiencing

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