By Staff writer
Office in Sao Paulo aims to boost trade and investment flows between the region and Dubai
Dubai Chamber of Commerce and Industry has announced the opening of its eighth representative office globally and its first in Latin America.
The office in São Paulo, Brazil will serve Latin America and aims to boost trade and investment flows between the region and Dubai, the chamber said in a statement.
The announcement came during a meeting between São Paulo state vice-governor Marcio França, Dubai Chamber officials, and a delegation of leading UAE businessmen who are visiting the country as part of a high-level trade mission.
The new office, Dubai Chamber’s first within Latin America, will assist Dubai-based companies that want to enter the region, the statement said.
It added that the office will support the chamber’s efforts to promote Dubai as an attractive trade and investment hub within the region, and attract Latin American companies that plan to trade with the emirate or use it as a hub to access markets in the GCC, Africa and Asia.
Hamad Buamim, president and CEO of Dubai Chamber, described the office opening as “a strategic decision”.
“This is a very important moment for us, because it will be our first office in Latin America. Establishing a presence here demonstrates the Chamber’s strong commitment to expanding trade ties between Dubai-based businesses and their Latin American counterparts,” he said.
The opening comes as non-oil trade between Brazil and Dubai amounted to AED6 billion in 2016, accounting for more than a third of the emirate’s total non-oil trade with the region.
Dubai's non-oil trade with Latin America reached AED17.4 billion in 2016, up 29 percent compared to AED13.5 billion in 2010. A total of 54 Brazilian companies are registered with Dubai Chamber.