UAE accounts for 77% of GCC investments in Latin America

UAE accounts for 77% of GCC investments in Latin America

Hamad Buamim, President and CEO of Dubai Chambers. — Supplied photo

Brazil accounts for the largest share of GCC imports from Latin America.

Published: Tue 22 Mar 2022, 5:19 PM Last updated: Tue 22 Mar 2022, 5:22 PM

The UAE accounts for 77 per cent of GCC investments in Latin American markets between 2016 and 2021, the latter of which amounted to $4 billion over the same period, according to a new whitepaper released by Dubai Chamber of Commerce in collaboration with Economist Impact.

The report, entitled Cultivating Ties: Deepening trade and investment between Latin America and the GCC, was issued ahead of the Global Business Forum Latin America 2022, which takes place March 23rd-24th, at Expo 2020 Dubai’s Dubai Exhibition Centre.

The whitepaper examines the evolving trade and investment relationship between LatAm and the Gulf Co-operation Council (GCC) countries and identifies key areas of opportunity where the GCC can be a destination for LatAm products, a supplier for industries, an investor for growing operations, and a knowledge partner for industry best practices.

The report is based on a survey of 200 senior executives in Latin America, conducted between May and July 2021. Respondents were drawn from a range of sectors, including around 15 per cent