A record 701 companies from across Latin America and the Caribbean took part in the 13th Virtual Agrifood Business Matchmaking Round, generating an estimated US$25.5 million in new business opportunities.
An IICA press release said the online event was organized through a partnership between the Food and Agriculture Organization of the United Nations (FAO), the Inter-American Institute for Cooperation on Agriculture (IICA) and the Secretariat for Central American Economic Integration (SIECA). The three organizations have been hosting the initiative since 2020 to help strengthen agrifood trade across the region.
Businesses from Central America joined participants from countries including Argentina, Chile, Colombia, the Dominican Republic, Ecuador, Mexico and Peru. Women-led businesses made up 38% of participating companies, while 46% were led by entrepreneurs under the age of 40.
According to IICA, fresh fruits and vegetables were the products most frequently bought and sold during the event, followed by coffee and cocoa. Companies also showcased food preparations, healthy snacks, transportation and logistics services, and support services related to food quality and safety standards. Participants also used the event to build new partnerships and explore opportunities in new markets.
Since the virtual business rounds began, 7,385 supplier companies from Latin America and the Caribbean have participated. Surveys conducted after the events indicate they have generated an estimated US$309.7 million in business opportunities, as per the release.
Edith Flores de Molina, Director of SIECA’s Center for Studies on Economic Integration (CEIE), said the results show the value of strengthening regional trade.
“The results achieved through the thirteen business rounds held to date demonstrate that this type of event promotes regional trade within a framework of inclusion and competitiveness. They also enable companies to strengthen commercial ties beyond national borders, expanding their business networks and opening new market opportunities.”
Reportedly, Daniel Rodríguez of IICA’s Directorate of Technical Cooperation said the continued growth in participation confirms the business rounds have become one of the region’s leading platforms for connecting producers, agribusinesses, service providers and buyers.
Meanwhile, IICA said that Senior Programme Officer Pablo Rabczuk noted that 68% of participants in this year’s event were micro, small and medium-sized enterprises (MSMEs).
“Tools such as virtual business matchmaking rounds are essential to encourage companies across the region to invest in regional markets. At a time of heightened global volatility, there is significant room for growth within the region, and this opportunity should be seized.”
