DUBAI, Feb. 27 (Xinhua) -- The two-way non-oil trade between the Gulf Arab emirate of Dubai and countries in Latin America (LatAm) reached an all-time high of 4 billion U.S. dollars in the first nine months, said source of Dubai Chamber of Commerce and Industry on Tuesday.
But more barriers have to be removed to push the commercial ties further, said Majid Saif Al-Ghurair, Chairman, Dubai Chamber of Commerce and Industry.
Delivering a key note at the second, two-day Global Business Forum Latin America, Al-Ghurair said since the first LatAm forum in Dubai, held in November 2016, evidence of the economic growth trend between both sides can be seen in the number of Latin American companies.
Nevertheless, challenges remain, said the official, adding Dubai can serve Latin American companies as a gateway to Africa, the Middle East and Asia.
In order to overcome barriers of trade, Dubai Ports (DP) World, the third biggest commercial port operator globally, started in September 2017 with the construction of a port in Posorja, capable of handling 750,000 twenty-foot equivalents of cargo upon completion.
It will be Ecuador's first multi-purpose deep water port, according to DP World whose shares are traded on the Nasdaq Dubai.
In addition, Al-Ghurair pointed out, Dubai's government-controlled carrier Emirates Airline is flying daily to the Brazilian cities of Sao Paolo and Rio de Janeiro and from July 5 onward, Emirates will launch flights to the Chilean capital Santiago via Sao Paolo.
Dubai Chamber opened last year its first LatAm branch in Sao Paolo, and it will open new office in Panama City, followed by Buenos Aires at the end of 2018.
