Page 43 - SUPERBRIDGE PR REPORT - SEPTEMBER 2024

9/25/24, 2:11 PM SuperBridge Summit 2024: Catalyzing New Pathways for Trade and Investment Between the Middle East and Latin America

SuperBridge Summit 2024: Catalyzing New

Pathways for Trade and Investment Between the

Middle East and Latin America

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9/24/2024 9:48:30 AM

(MENAFN- Orient Planet Group) Dubai, United Arab Emirates, 24 September 2024 – 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. Organized 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, fertilizers, aluminum, and related products,

plastics, and related items, as well as electrical machinery and equipment. Conversely,
imports from Latin America totaled 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 per cent of GCC exports and 50.01 per cent of

imports.

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

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