Dubai Chamber of Commerce and Industry recently concluded its latest series of the Global Business Forum (GBF) virtual roadshows, which examined the business landscape in emerging markets across the Latin America and the Caribbean regions.
Several high-level focus groups were organised as part of the roadshows over the last six months, which were joined by prominent businessmen, trade officials and other stakeholders from a wide range of economic sectors.
During the roadshows, discussions highlighted key trends reshaping Latin America economies post-Covid-19, including digitalisation and an increased focus on agri-business, renewable energy, economic diversification, logistics, free zones and ease of doing business.
According to the participants, Latin America and the Caribbean saw a 38% drop in FDI due to the pandemic, with tourism, trade, hospitality and transportation among the sectors that were most affected amid tightened travel restrictions and a disruption to supply chains.
In the Covid-19 era, Latin American and Caribbean governments are stepping up efforts to boost and diversify food exports as they capitalise on new opportunities to cooperate with other countries such as the UAE on food security and trade, the participants said. Dubai can offer valuable expertise in logistics, tourism, retail, e-commerce, hospitality, innovation and digital economy, as well as the investment needed to fill market gaps and support Latin American and Caribbean’s sustainable economic growth.
The establishment of public-private partnerships, joint ventures and strategic cooperation agreements between Latin American, Caribbean entities and their UAE counterparts were among the key recommendations share by attendees for building cross-border economic partnerships in the Covid-era and beyond.
Addressing participants, Omar Khan, Director of International Offices, Dubai Chamber, described roadshow discussion as “insightful and constructive” as they gathered valuable feedback that will shape the agenda of the upcoming GBF Latin America, a premier international event that will be organised by Dubai Chamber in partnership with Expo 2020 Dubai.
“The fourth GBF Latin America in Dubai will build on the success achieved at the last edition of the forum in Panama – which catalysed bilateral economic cooperation and opened new doors. GBF is a key pillar of Dubai Chamber’s Latin America strategy, which is primarily supported by its representative offices in Brazil, Panama and Argentina that are playing an active role in building bridges between business communities in UAE and Latin America,” added Khan.
The Global Business Forum is Dubai Chamber’s flagship event series providing a platform for high-level dialogue between Dubai and emerging markets that offer business potential. Organised in partnership with Expo 2020 Dubai, the upcoming forums will address macroeconomic developments, key challenges and opportunities emerging in the region through thought-provoking discussions and direct dialogue between government and business leaders.
