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UAE Chamber boosts trade cooperation with Colombia

Middle East | April 21, 2024 5:28:53 AM IST
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Bogota [Colombia], April 21 (ANI/WAM): The UAE Federation of the Chambers signed two Memoranda of Understanding (MoUs) with Colombian counterparts to boost investment and trade opportunities between the two nations. These MoUs also establish a joint business council.

The agreements align with the recently signed Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Colombia. This partnership aims to foster a new era of productive collaboration, mutual economic growth, and unlock further commercial and investment prosperity for both countries.

Ahmed Khalifa Al Qubaisi, CEO of the Abu Dhabi Chamber of Commerce and Industry, signed the MoUs on behalf of the UAE Chambers. Representing Colombia were the Executive Vice President of the Colombian Chamber of Commerce, and Paola Buendia Garcia, Executive Vice President of the National Business Association of Colombia.

Abdullah Mohamed Al Mazrouei, Chairman of the UAE Chambers and Chairman of the Abu Dhabi Chamber's Board of Directors, highlighted the importance of these MoUs. He stated that the agreements support national goals aligned with the UAE-Colombia CEPA. The MoUs will facilitate knowledge and expertise exchange, further strengthen commercial and investment cooperation between businesses, and contribute to driving comprehensive and sustainable development.

The parties will exchange knowledge and training experiences in economic development. The MoU aims to increase commercial opportunities and expand economic and industrial cooperation between companies in both countries.

The agreement facilitates trade and economic delegation visits between the two countries. Additionally, it encourages collaboration to enable companies from both nations to participate in international events, exhibitions, and conferences. (ANI/WAM)