Top business leaders, policymakers and investors from the GCC and Latin America recently explored how nations from the two regions can grow trade between each other in Dubai, UAE.

More than 500 local and international policymakers, heads of state, CEOs, business leaders, investors, and industry professionals attended the first Global Business Forum – Latin America held at the Atlantis Palm - Dubai.

Imports and exports between the two regions have more than doubled since 2006. In 2015 the GCC made up of the UAE, Bahrain, Kuwait, Oman, Qatar and Saudi Arabia, imported $11 billion worth of goods from Latin America. And exports to Latin America from the region were $5.6 billion, a statement from organisers said.
 
Both regions rely on each other for essential products. The GCC is heavily reliant on food imports, which account for over 80 per cent of total domestic food consumption. In 2015 Latin America supplied nearly half the meat imports into the GCC and 36 per cent of the region’s total sugar imports, it added.
 
Brazil is by far the largest trading partner for countries in the region, followed by Argentina and Mexico. Among the Latin American states, the GCC relies on Brazil for meat (mainly poultry), Argentina for cereals, Mexico for vehicles and Chile for wood products, said a statement.
 
The bulk of exports from the region to Latin America consists of oil, liquefied natural gas, and fertilisers, it said.
 
The forum was organised by the Dubai Chamber of Commerce under the theme “Shifting Synergies”, explores how businesses can benefit from the changing patterns of global demand and what role Dubai can play in facilitating the next step in business relations.

Dubai Chamber takes a pioneering position not only in the UAE and in the GCC but globally too, by acting as an information and research centre, by providing business documentation, offering legal services, facilitating networking opportunities via signature business events and delivering almost every conceivable business solution, it stated. – TradeArabia News Service

Highlights from the event can be viewed here - https://www.youtube.com/watch?v=spKqHi_csPg