DUBAI, United Arab Emirates--(BUSINESS WIRE)--Dubai is looking to boost its trade relations with Argentina as both sides gear up to take part in the upcoming Global Business Forum on Latin America 2016.
The Forum is being organised by Dubai Chamber of Commerce and Industry and will take place on November 9-10, 2016, at Atlantis, The Palm, in Dubai under the theme of “Shifting Synergies”.
Argentina ranks as the emirate’s fourth-largest trading partner in Latin America, representing 10% of non-oil exports and 3% of non-oil imports in 2015.
Dubai imported $136 million worth of products from the South American country last year, while imports edged up 3.6% between 2010 and 2015. Re-exports saw impressive growth over the same period, increasing by 61.7% to $43.2 million.
The total volume of non-oil trade between Dubai and Latin America reached $4.6 billion in 2015, of which Argentina accounted for $186 million.
“Many countries in Latin America remain relatively stable trade destinations despite recent volatility in the global economy,” said H.E. Hamad Buamim, President and CEO of Dubai Chamber. "Considering Argentina’s considerable clout in South America, we consider the country a strategic partner for us and a gateway to doing business on the continent.”
The Forum is being organised under the patronage of H.H. Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice-President and Prime Minister and Ruler of Dubai. The event aims to explore new investment and business opportunities between Latin America and the Middle East.
More than 500 prominent stakeholders and high-profile delegates are expected to attend and participate in the forum, including heads of state, ministers, CEOs, business leaders, policymakers, industry professionals, investors, as well as heads of private banks, sovereign wealth funds, and private equity firms.
Argentina is Latin America’s second-largest economy. Since 2015, the Argentine government has been working to position the country as a growth-driven investor-friendly economy. Some of Argentina’s strongest sectors include food and agriculture, bio-fuels, oil and gas, nuclear energy, manufacturing, high-tech services, and tourism.
Website for Global Business Forum on Latin America: http://www.gbflatinamerica.com
*Source: ME NewsWire