Dubai Chamber opens representative office in Argentina

BUENOS AIRES, 1st April, 2019 (WAM) -- Dubai Chamber of Commerce and Industry has announced the opening of a representative office in Buenos Aires, Argentina, as part of its efforts to strengthen its presence in Latin America.

The Argentina office, Dubai Chamber’s third Latin America office, will be tasked with identifying new business opportunities in the market that offer potential for Dubai Chamber members and Dubai’s business community. The office will assist and guide Argentine companies that are keen to enter the Dubai market and leverage the emirate as a strategic gateway to expand their reach to markets across the Middle East, Africa, and Asia.

The announcement was made ahead of the 3rd Global Business Forum, GBF, Latin America which is set to take place on 9th-10th April, in Panama City. The move comes after Dubai Chamber opened representative offices in Sao Paulo, Brazil, and Panama City, Panama in 2017 and 2018, respectively.

Commenting on the inauguration of the Buenos Aires office, Hamad Buamim, President and CEO of Dubai Chamber, said, "We are fully committed to strengthening our presence in Latin American countries that provide growth and expansion opportunities for companies in Dubai."

The chamber’s new office in Buenos Aires, he noted, will explore and identify new trade and investment prospects and focus its efforts on attracting Argentine companies to Dubai, with the aim of boosting bilateral trade and expanding cooperation in key sectors of mutual interest such as agribusiness, infrastructure, renewable energy, logistics, pharmaceuticals, and tourism.

Buamim stated that the opening of Dubai Chamber’s Argentina office comes at a time when the country is pushing ahead with structural reforms that are creating plenty of new business opportunities that UAE companies can benefit from. He added that the move follows high-level visits from both governments earlier this year that paved the way for stronger political and economic relations.

Argentina is Dubai’s seventh largest trading partner within Latin America with bilateral non-oil trade exceeding AED827 million (US$225 million) in 2018, marking an increase of 21 percent compared to the AED684 million ($186 million) accounted for in 2015.

Foodstuff, vegetable, and meat products were the top products traded between Dubai and Argentina in 2018 by total value ($158 million), followed by chemical products ($23 million), and machinery and electric/electronic equipment ($12.8 million).

The Global Business Forum Latin America brings together heads of state, policymakers, senior government officials, CEOs, prominent businessmen, entrepreneurs, economists and industry experts from Latin America and the UAE to explore prospects for expanding economic cooperation and forging new partnerships.

Held under the theme, "Next Hubs, New Regions", GBF Latin America – Panama 2019 is organised by Dubai Chamber of Commerce and Industry in partnership with the Inter-American Development Bank and programmed in association with the Economist Events.

WAM/Rola Alghoul/Esraa Ismail