Published On: 25-5-2017

-H.E. Al Ghurair: Dubai and Uruguay have expertise and resources that can form the foundation for fruitful economic cooperation in the future

– H.E. Sendic: Uruguay can be a strategic partner for Dubai that can offer a lot of opportunities for businesses in the emirate

Dubai, UAE: A high-level delegation from the Dubai Chamber of Commerce and Industry recently met with Uruguay’s Vice President H.E. Raul Sendic in Montevideo to formally invite him to attend the 2nd Global Business Forum on Latin America, which is set to be held in Dubai early next year.

During the meeting, H.E. Majid Saif Al Ghurair, Chairman, Dubai Chamber, and H.E. Sendic discussed ways to expand that both sides enhance economic cooperation and work towards partnerships that can create mutual benefits.

H.E. Al Ghurair stated that Dubai and Uruguay have the expertise and resources to form the foundation for fruitful economic cooperation in the future. He provided an overview of the 2nd Global Business Forum on Latin America and discussed some of the main benefits and features of the high-profile event.

Dubai Chamber’s chairman described the forum as an ideal platform to showcase trade and investment opportunities in Uruguay, and noted that H.E. Sendic’s participation in the inaugural forum last year reflected the country’s strong commitment to improving relations with Dubai and the UAE.

H.E. Al Ghurair revealed that Dubai-Uruguay non-oil trade reached $31 million in 2016 – a 35% increase compared to 2010. He added that Uruguay’s exports to Dubai, dominated by agricultural commodities and food products, amounted to $6 million during the same year.

Renewable energy, agriculture, tourism, financial services, logistics, construction, construction, manufacturing and industry were highlighted as key sectors where UAE businesses and their Uruguayan counterparts can boost trade and explore prospects for new partnerships.

For his part, H.E. Sendic praised the development of Uruguay-UAE, relations over the years and said his country is ready to provide all necessary facilities and support to facilitate and expand bilateral trade and investment.

Uruguay’s vice president lauded Dubai Chamber’s efforts to improve ties within Latin America, and described the visit as a positive step that reflects a clear vision for the future. He explained that Uruguay has the potential to become a strategic partner to Dubai, and added that the country can offer a lot of opportunities for businesses in the emirate.

Dubai Chamber recently led a high-level trade mission to Latin America which covered Brazil, Paraguay, Argentina and Uruguay, during which the Chamber opened its eighth representative office in Sao Paulo. During the trade mission, a delegation of UAE businesses met with public and private sector stakeholders and discussed prospects for boosting trade and investment in several sectors, including agriculture, manufacturing, logistics, tourism, and renewable energy.