Page 39 - SUPERBRIDGE PR REPORT - SEPTEMBER 2024

9/25/24, 2:11 PM SuperBridge Summit 2024 - Financial Markets Media
Strengthening Bilateral Investments and Partnerships

Major companies from Latin America and the Middle East are increasingly recognizing 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, reinforcing its position as
the leading supplier of halal meat to the GCC. This expansion comes as Saudi Arabia aims to increase
local food production by 50% by 2030, a goal that Latin American firms are well-positioned to support.
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.

Middle Eastern companies are equally active in expanding their footprint in Latin America. 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.

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 he GCC’s growing interest
in Latin America’s fintech ecosystem, which has experienced explosive growth, with over 722 active
fintech startups in Brazil alone, and a market valuation exceeding $45 billion.

The SuperBridge Summit will also 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.

A Crucial Moment for Enhanced Economic Ties

As both regions strive to diversify their economic bases, the SuperBridge Summit 2024 will be crucial in
facilitating new agreements and partnerships. With the GCC countries expected to attract over $150
billion 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% 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.

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, 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.”

Recent High-Profile Engagements and Future Prospects

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