Dubai Chamber opens eighth representative office in Brazil
Dubai - United Arab EmiratesTuesday, April 18, 2017
The Dubai Chamber of Commerce and Industry announced on Monday, April 17th, the opening of its eighth representative office in Sao Paulo, Brazil, which will serve Latin America and aim to boost trade and investment flows between the region and Dubai.
The announcement came during a meeting between Sao Paulo state Vice-Governor Marcio Franca, Dubai Chamber officials, and a delegation of leading UAE businessmen who are visiting the country as part of a high-level trade mission that the chamber is leading this week to Latin America.
The new office, Dubai Chamber’s first within Latin America, will assist Dubai-based companies that want to enter the region. It 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.
Majid Saif Al Ghurair, Chairman of Dubai Chamber, said the opening of the new office falls in line with the chamber’s strategic plans to expand its international presence and enhance economic cooperation with promising markets around the world. He noted that Dubai’s increased focus on Latin America began with the visit of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, to the region in 2014.
Dubai Chamber’s Chairman thanked the UAE Consulate in Sao Paulo for its support in organising the trade mission, and lauded efforts by the UAE’s Ministry of Foreign Affairs to contribute toward the global aspirations of the country’s private sector.
Following the announcement, Hamad Buamim, President and CEO of Dubai Chamber, described the office opening as "a strategic decision" for the organisation as it will help build bridges between business communities on both sides.
"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," said Buamim.
Dubai Chamber’s President and CEO explained that Brazil is the ideal location for the office as the country is Dubai’s top trading partner within Latin America. Non-oil trade between Brazil and Dubai amounted to AED 6 billion in 2016, accounting for more than a third of the emirate’s total non-oil trade with the region. He added that the new office in Brazil would aim to increase the value and scope of bilateral trade in the years to come.