Page 44 - 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
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.

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