The Latin American and Caribbean region accounts for an estimated $4.4 trillion in GDP (PPP), has a population of 646 million and includes three members of the G20. Total bilateral trade between the UK at Latin America and Caribbean (LatAC) was worth over £29 billion. For businesses interested in exporting to LatAC, there’s a whole ecosystem of support available from the Department for International Trade (DIT). DIT has a network of 160 staff based in 20 LatAC markets, with a dedicated resource for Northern Powerhouse (NPH) businesses interested in exporting to the region. Carolina Silva, NPH Business Manager for LatAC, is based in Brazil, but works across the region to identify trade opportunities and NPH capability that can meet them, with a focus on Clean Growth. If you would like to keep in touch, she regularly post news of events, reports and other important information on LinkedIn- connect with her to be easily updated.
There is a range of services that DIT LatAC offer: they provide on the ground opportunities, keeping you informed with guidance and market intelligence, introductions to relevant people, potential partners and distributors, to help you in widening your contacts – growing not only in country but across the region. They also are working in policy and market access barriers, such as working with Brazilian authorities to simplify applications of UK poultry genetic material exporters to the Brazilian market, as well as participation in events and trade missions. Some of the exciting activities DIT LatAC is working on are below:
- The newly launched Clean Growth landing page which showcases UK’s leadership and expertise and the opportunities available for UK companies in LatAC across priority sectors.
- The Digital Brochure: Introducing UK Clean Tech Solutions to the Latin America and the Caribbean, which will showcase British businesses, offering innovating solutions towards a low-carbon future, who are interested in exporting to LATAC. If you are interested in joining the digital brochure, please complete this questionnaire
- There is a dedicated page for LATAC events so please bookmark this page to keep up to date on everything that is going on across the region.
For the Food & Drink sector, there are significant opportunities for UK companies with a unique offer or a strong brand, in markets such as Argentina, Brazil and Mexico. The reputation of British products is one of high quality, authenticity and tradition, often sold at high price points in Latin America and the Caribbean markets. Whilst it can be difficult to compete in agricultural produce and goods at the lower-priced end of the sector, British products that have unique features and quality ingredients will see great demand and openness to trying new products.
Some of the events DIT will support in Brazil is Taste of São Paulo (which derives from the Taste of London event!) in October and APAS Show, one of the biggest supermarket and retail tradeshows in the world. Although they are not planning any major activities or missions at this stage due to covid19 restrictions, keep these events in mind for potential activities in next year’s edition. In Mexico, Barra Mexico is due to be rescheduled soon and DIT will join to scope opportunities for alcoholic beverages.
You can find more information about opportunities for UK companies across markets and sector across LatAC in this digital brochure or contact us here.PPP is presented in current prices and in international dollars. This adjusts GDP for the cost of living in each country. Source: IMF World Economic Outlook, October 2020 [link]
2 World Bank [link]