How is the UAE changing its economy with Latin America? The UAE-Latin America Cooperation Forum is a big step. It’s making trade between them huge.
In 2022, they traded $9 billion without oil. This partnership is changing how we trade worldwide. The UAE is working hard to make these ties strong.
The UAE Government is making big moves in diplomacy with Latin America. They want to grow their economy and be a top business place. They’re working in many areas like tech and green energy.
Investments between the UAE and Latin America are growing. The UAE brings skills in logistics and new ideas. Latin America has lots of natural resources and growing markets. Together, they’re creating a better future for both.
Current State of UAE-Latin America Economic Relations
The UAE and Latin America are building strong economic bonds. Their trade has grown a lot in the last few years. This shows they both want to grow their businesses and help each other.
Trade Volume and Investment Statistics
Trade deals between the UAE and Latin America have boosted their economies. In 2022, they traded $9 billion worth of goods. Brazil is a big partner, with $4.3 billion in non-oil trade.
The UAE is a big investor in Latin America. It made 77% of GCC investments there from 2016 to 2021.
| Metric | Value | Year |
|---|---|---|
| UAE-Latin America Trade | $9 billion | 2022 |
| UAE-Brazil Non-Oil Trade | $4.3 billion | 2022 |
| UAE Investment in Brazil | Over $5 billion | 2016-2021 |
Strategic Partnership Development
The UAE and Latin America are working together in important areas. They focus on food, technology, and farming. They also look at new fields like green energy and tourism.
DP World, a UAE company, has invested a lot in Latin American ports. They’ve grown in Peru and the Dominican Republic. These partnerships show the UAE wants to be a big player in South America.
The UAE is becoming a key hub for international trade. It connects Asia, Africa, and Latin America. This helps the UAE and Latin America work together more and find new ways to trade and invest.
UAE-Latin America Cooperation Forum: Key Sectors and Opportunities
The UAE-Latin America Cooperation Forum boosts trade and investment. It has helped create export chances worth US$ 65 million and investment chances over US$ 22 million. This shows how the UAE and Latin America are working together in many areas.
Security cooperation between the UAE and Latin America is growing. The UAE and Brazil plan to work on defense systems and space tech. The IX Entrepreneurship and Innovation Forum LAB4+ will focus on EdTech and other new areas, showing the UAE’s efforts in education.
Environmental projects are also a big part of the forum. The Abu Dhabi Fund for Development will help fund green energy in Paraguay. This shows the UAE’s dedication to helping the environment in Latin America.
- DP World has invested in logistics across seven Latin American countries
- Mubadala invested over $5 billion in Brazil since the early 2010s
- UAE’s JFR Investments expanded into Brazil and Peru’s mining sector
The UAE and Latin America are also working on food security. The UAE started a “food security alliance” in 2015. It works with 19 countries, including some in South America. This shows how important Latin America is for the UAE’s food needs.
The UAE-Latin America Cooperation Forum is getting bigger. It will open up new chances in tech, green energy, and building projects. The inclusion of European and UAE investors in LAB4+ shows more people are interested in Latin America. This could lead to stronger economic ties.
Conclusion
The United Arab Emirates has grown its partnerships with Latin America a lot. These partnerships are now strong and show the UAE’s goal to diversify its foreign ties. The country’s smart way of making friends with South America has brought great results.
Trade numbers show how this friendship is growing. The Gulf Cooperation Council, including the UAE, saw imports from Latin America go up. The UAE was a big part of this, showing its important role in connecting the regions.
The UAE is now part of the BRICS group, which is big and powerful. This means the UAE can work with more countries and grow its ties in South America. We will see more trade, investment, and growth between the UAE and Latin America. This will make the Persian Gulf and Latin America closer, leading to a brighter future for both.
