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Sun 7 Apr 2019 12:05 PM

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Dubai Chamber opens Argentina office amid Latin America push

New Argentina office, Dubai Chamber's third in Latin America, will be tasked with identifying new business opportunities

Dubai Chamber opens Argentina office amid Latin America push
Hamad Buamim, president and CEO of Dubai Chamber of Commerce and Industry.

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.

Dubai Chamber is this week hosting the third edition of the Global Business Forum (GBF) Latin America in Panama City, making it the first time that the high-level forum is held outside of Dubai.

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, a statement said.

The move comes after Dubai Chamber opened representative offices in Sao Paulo, Brazil and Panama City, Panama in 2017 and 2018, respectively.

Opportunities for Dubai companies

Hamad Buamim, president and CEO of Dubai Chamber of Commerce and Industry 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 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.”

He said 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.

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

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