By Rola Alghoul and Lina ibrahim
DUBAI, UAE, (WAM) – As Latin American and Caribbean countries begin to emerge from the pandemic, public and private sector stakeholders in these markets are increasingly looking to build and strengthen economic partnerships and boost international cooperation, and such prospects will be a key focus of the fourth edition of the Global Business Forum Latin America (GBF LATAM) in Dubai.
Taking place March, 23 – 24, 2022, and organised by Dubai Chamber of Commerce in partnership with Expo 2020 Dubai, the high-level forum takes a closer look at new business opportunities emerging across promising Latin American and Caribbean markets as the dynamics of global trade continue to evolve during the pandemic.
Part of the Chamber’s flagship Global Business Forum series, GBF Latin America 2022 is held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice president, prime minister and Ruler of Dubai.
Hosted at Expo 2020 Dubai, the forum brings together government officials, economic experts and business leaders to discuss a wide range of topics and issues such as existing synergies between the UAE and the Latin America and Caribbean markets, the COVID-led digital transformation of economies, increased focus on startups ecosystems, regional economic integration, fiscal reforms, infrastructure development, economic diversification and food security.
“Despite the challenges posed to Latin American and Caribbean countries in the wake of the pandemic, there have also been huge growth opportunities that businesses are capitalising on from a trade and investment perspective, especially within the areas of digital economy, e-commerce, logistics, food security, technology, infrastructure, healthcare and education,” said Hamad Buamim, president and chief executive officer of Dubai Chambers.
“At the same time, we are seeing growing interest from Latin American and UAE companies to explore global growth opportunities as they look to enhance supply chain networks and build new partnerships that support sustainable growth,” Buamim added.
The GBF Latin America 2022 at Expo 2020 Dubai is the ideal platform to explore such prospects, he explained, as the largest platform of its kind bringing together key public and private sector stakeholders to connect, collaborate and explore new avenues of economic cooperation.
Taking place under the theme “Towards a Resilient Future”, sessions at the two-day forum are being grouped under three pillars: Reform, Empower, Grow, each taking a deep dive into aspects of how to prepare economies for a vibrant post-pandemic era.
Sessions on day one of the forum will cover the need for Latin American and the Caribbean economies to diversify, with countries in the region heavily dependent on tourism and commodity exports, both of which have been badly impacted by the pandemic. The experience of the Gulf Region’s efforts over the past 30 years to successfully reform and diversify to deliver rapid growth will be highlighted.
Sessions will examine the benefits of a building boom in a number of Latin American economies, with Brazil planning the construction of highways, railways and airports on the back of USD $50 billion in investment in concession projects by the end of 2022 and the announcement from Mexico’s national infrastructure programme of two stages of projects totalling around USD$26 billion, with two additional stages expected by 2024. The session will examine how these and other infrastructure projects will expand opportunities for trade with the GCC.
Session on day one of the forum will examine topics such as the growth and ambitions of digital economies in Latin America and the UAE, prospects for bilateral cooperation in the fields of technology and food security and the role of SMEs and startups in driving Latin America’s next phase of growth and development.
Day two of GBF LATAM will examine how the pandemic has pushed the growth of digital finance, with a new generation of fintechs democratising banking in Latin America and the Caribbean, the need to boost supply chains and market gaps in the logistics sector in Latin America and the Caribbean, the benefits that Dubai’s World Logistics Passport offers to Latin American traders, and the emergence of hubs such as Jamaica for logistics, Barbados for finance and Trinidad and Tobago for energy hub. In addition, sessions will examine how Dubai can support Latin American companies as a global gateway to Africa and Asia, as well as the vast competitive advantages that the emirate offers foreign companies and investors.
As the Official Business Integration Partner for Expo 2020 Dubai, Dubai Chamber of Commerce is organising a series of high-profile business forums and events at the World Expo. GBF LATAM 2022 is the third Global Business Forum to be held in conjunction with Expo 2020 Dubai, with GBF Africa held in October and the first-ever GBF ASEAN hosted in December.