With the aim of exploring trade opportunities in various industry sectors in the UAE and South America, the Embassy of Argentina in the UAE and the Dubai Export Development Corporation (EDC), an agency of the Dubai Department of Economic Development.

The business roundtable will be held from 14th to 16th December. This is a precursor to a planned outward mission by EDC and its members to South America (Brazil, Chile & Argentina) in the next year.

The three-day ‘Multi-sector Trade and Investment Mission Argentina-UAE’ is supported by the Dubai Chamber of Commerce and Industry and H.E. Ruben Eduardo Caro, the Ambassador of Argentina to the United Arab Emirates and Qatar. The delegation is headed by H.E. Ambassador Luis Kreckler, Under-Secretary of Foreign Trade, Argentina’s Ministry of Foreign Affairs and Trade; and Mr. Gabriel Jorquera, Trade Commissioner of Argentina. Meanwhile, Engineer Saed Al Awadi, Chief Executive Officer of EDC will represent its members from different industry sectors in the Emirates.

The event is hoping to establish contacts with companies from the UAE interested in exploring opportunities for future mutual benefits in different sectors such as foodstuff, animal food, and beauty and health products. Also included are industry products such as machines and electrical equipment, office furniture, textile, leather, service and investments.

“We are pleased to learn that the Dubai Export Development Corporation, Government of Dubai, is planning to strengthen the trade ties between Argentina (a member of Mercosur, Mercado Común del Sur, a Regional Trade Agreement among South American countries) and the UAE.  Both countries represent important commercial regions and this initiative will produce economic benefits for our business communities and promote cultural ties.  I am delighted to offer our full support and look forward to the success of this initiative,” shared H.E. Ambassador Ruben Eduardo Caro.

According to Dubai Trade -Dubai World, Dubai’s total direct trade to Argentina posted 92.3% increase or AED786.66 million in 2008 as compared to AED408.87 million, while the total direct exports amounted to AED3.81 million, a 14.3% increase against AED3.34 million in 2007. Meanwhile, Argentina’s total exports to UAE in 2008 was AED1.8 billion (US$323.76 million), an 81.74% increase versus AED650.21 million (US$178.13 million) in 2007.

“This trade mission by Argentina is a good opportunity for the UAE companies to expand their presence in South America. It has been our country’s political vision to enhance trade cooperation not only with our neighbouring countries but even in the Americas. We have a strong bilateral trade relationship with South America, particularly Argentina, where constant growth in exports has been recorded in the three years” Al Awadi said.

Meanwhile, H.E. Ambassador Luis Kreckler commented on the trade mission, “We have confidence in the long term prospects for the UAE in general and Dubai in particular. We expect Argentinean companies to go on using Dubai as the main trading point in the Middle East, and new ones joining the experienced ones. We would be delighted to welcome UAE companies in Argentina and help them to understand the Latin American market.”

-Ends-

About Dubai Export Development Corporation:

The Dubai Export Development Corporation (EDC), an agency of the Dubai Department of Economic Development, Government of Dubai, commenced operations in 2007.

The EDC has a very clear objective to be a world-class export development and promotion body by creating an enabling environment for Dubai’s exporters, with the aim of enhancing the competitiveness of Dubai as a preferred trading partner.

The EDC has developed value-added trade support services to UAE based firms exporting through Dubai, for accelerated and profitable expansion of their businesses in foreign markets.

For more information, please contact: Rose Manaog; Action UAE; rose.m@actionprgroup.com; +971 4 3902960.