UAE businesses foster trade ties with South America

31/08/2010 - Dubai Investment News
UAE businesses foster trade ties with South America

Posted by Neil King

A wide range of trade opportunities between the UAE and South America are currently being developed by government officials, it has been revealed.

Dubai's Export Development Corporation (EDC), the government body charged with promoting exports from the emirate, said in a statement that it is currently extending its support and services through its partners to companies that are already operating in South America.

In addition, the EDC confirmed that more delegations from countries like Argentina, Brazil and Chile are due to visit the UAE to explore trade and foster mutual partnerships.

The statement follows a UAE trade mission to South America earlier this year.

Saed Al Awadi, chief executive officer at EDC, said: "The trade mission we've conducted in South America has proven to be successful as more companies are encouraged to expand their businesses in the western region. Consequently, we have seen an increase of Latin American companies wishing to do business here in the UAE."

According to EDC, Wavetec, a leading high-tech company in the Middle East, is among those to have benefited from the South American trade mission.

Wavetec, which is based out of Dubai Silicon Oasis, recently started operations in South America with a focus on Argentina, Brazil and Chile.