Brazil is a key strategic partner to the UAE’s food security and an essential component of the emirates’ overall economic objectives
Hamad Buamim, President and CEO, Dubai Chambers.
As the UAE works towards new targets outlined in its National Food Security Strategy 2051, the country is focusing its efforts on building and expanding its international partnerships to diversify food sources.
Dubai has a major role to play in supporting these strategic ambitions as it serves as a preferred trade hub for top food exporting countries around the world. Growing confidence in the emirate as a strategic gateway for global food and beverage trade can be seen in the rising number of exhibitors from around the world that come to take part in Gulfood.
The 2022 edition of the exhibition and conference was no exception as it attracted over 4,000 companies from 120 countries. Brazil maintained a strong presence at this year’s event as the country cements its role as a top source market for food products bound for Dubai, the UAE and other GCC markets.
Food trade between Dubai and Brazil continues to be a major factor expanding bilateral economies ties. In the first half of 2021 despite the impact of the lockdown on global supply chains, imports of Brazilian food and beverage (F&B) products to Dubai amounted to AED 1.29 billion. This is compared to AED 870.5 million in the first half of the same period in 2020 – an increase of 48 percent.
Dubai Chamber of Commerce and its representative offices are playing an instrumental role in facilitating and expanding UAE-Latin America food trade and supporting Brazilian companies that are keen to enter the Dubai market and explore business prospects by participating in events like Gulfood.
Brazilian companies currently account for 36 of Latin American member companies registered with Dubai Chamber of Commerce and that number is expected to increase steadily as we expand our activities in Brazil and facilitate new trade partnerships through platforms like the Global Business Forum Latin America.
Brazil’s role in the UAE’s food security
Since we opened our first Latin America office in Sao Paulo, Brazil in 2017, the number of Brazilian member companies has surged 284 percent, signalling that our efforts in recent years are bearing fruit and boosting confidence in Dubai as a global gateway for Brazilian businesses.
Expanding and diversifying trade partnerships is a top priority for Dubai International Chamber, one of three new chambers that operate under the recently restructured Dubai Chambers. The Chamber’s efforts aim to support the five-year plan announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, last year to boost Dubai’s non-oil foreign trade to AED2 trillion over the next five years.
As part of the emirate’s concerted push to improve global trade, the new board of directors of Dubai International Chamber has approved a strategy for the next three years (2022-2024), which aims to strengthen Dubai’s position as a global trade hub, attract multinational companies to the emirate and support local companies with international expansion. Brazil, as top’s top trade partner and Latin America’s largest economy, will remain a target market.
Global Business Forum (GBF) LATAM 2022, which takes place March 23-24 at Expo 2020 Dubai.
Trade ties between Brazil and Dubai will be in the spotlight at the forthcoming Global Business Forum (GBF) LATAM 2022, which takes place March 23-24 at Expo 2020 Dubai. Held under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, and organised by Dubai Chamber of Commerce.
GBF LATAM 2022 will feature a comprehensive agenda of presentations, panel discussions, keynote speeches, fireside chat interviews and breakout sessions. More than 800 delegates representing over 50 countries are expected to attend, with government officials, business policy makers and investors from around the world among the participants who have registered for the forum.
With its theme Towards a Resilient Future GBF LATAM will outline ways of delivering a post-pandemic future of prosperity for Latin America, Dubai and the UAE. And with Brazil a key strategic partner to Dubai’s and the UAE’s food security and an essential component of the emirates’ overall economic objectives, I am anticipating some fruitful discussions ahead.