In the News from Panama

UAE Trade Group Heading to Panama

A high-level trade delegation from the United Arab Emirates will be in Panama next week looking for new investment opportunities.

The trip is coinciding with Global Business Forum, GBF, Latin America which the Dubai Chamber of Commerce and Industry is hosting April 9 and 10 in Panama City. The conference, entitled “Next Hubs, New Regions,” will examine prospects for “boosting Dubai’s non-oil exports and re-exports to Latin America beyond the AED 2.1 billion and 207,000 tones accounted for in 2018,” according to a statement on WAM, the Emirates’ official news site.

The UAE officials are exploring “new growth opportunities in markets across Latin America and the Caribbean region,” starting in Panama.

With its focus on trade and status as “the Hub of the Americas,” Panama is well positioned to take full advantage of the UAE’s interest in expanding its presence in the region. The relationship has grown in recent years and just a few days ago officials were once again talking about a direct flight from Dubai to Panama City.

Organized with the Inter-American Development Bank and programmed in association with the Economist Events, GBF Latin America – Panama 2019 will host “heads of state, ministers, policymakers, business leaders, entrepreneurs and industry experts, and key decision makers from the UAE and various Latin American countries.” Senior executives from influential companies DP World and Mubadala will also attend.

In addition to reports on trends and opportunities in the region, UAE and Latin American companies “will also participate in bilateral business meetings that will be held on the sidelines of the forum,” the statement says.

Hamad Buamim, president and CEO of the Dubai Chamber, said the trip to Panama is “a prime opportunity for UAE businessmen to learn more about the vast potential that exists in Latin America and network with key public and private sector stakeholders from the region.”

The delegation will be talking about a wide array of opportunities, focusing on natural partnerships. “Food security, logistics, tourism, finance, renewable energy, and infrastructure” are among the specific areas where the UAE and Latin America can expand cooperation, the organizers said.