Dubai exports, the export promotion agency of the Department of Economic Development - Government of Dubai, is leading a delegation of flagship UAE companies and potential exporters to the III ASPA CEO Summit, being held in Lima, the capital of Peru from 1-2 October.
Underlining the growing interest among UAE firms on exporting their products and services to South America, all UAE companies that participated previously in Dubai Exports missions to South America once again joined the Dubai Exports delegation.
"South America is a major target for UAE exporters since the continent has some of the most promising and fastest growing economies today. Recent trade missions led by Dubai Exports have helped local firms to build bridges with governments, trade promotion bodies and businesses across key economies in South America, including Argentina, Brazil and Peru," said Engineer Saad Al Awadi, Chief Executive Officer of Dubai Exports.
"Our focus is on enabling companies in Dubai to realise market opportunities and export their capabilities. Dubai with its advanced infrastructure and diversified economic activity has greater efficiencies in supplying products and services to different industry sectors and communities worldwide," he added.
Local companies that attended the Peru summit in the past have been able to generate a number of business deals and promising leads from South America. In 2011, UAE exports to Peru alone reached nearly AED30 million, up 29.62 per cent from the previous year. UAE exports to some other South American countries showed 170 per cent growth in 2011.
With a rising number of trade and investment promotion agencies from South America stepping up their presence in the UAE and Dubai growing in prominence as a catalyst for global commerce, bilateral trade is estimated to expand substantially.