Bogota, Colombia – The United Arab Emirates (UAE) and Colombia are poised for a significant boost in trade and investment after the UAE Federation of Chambers signed two Memoranda of Understanding (MoUs) with Colombian counterparts. The agreements, signed on April 20, 2024, in Bogota, establish a joint business council and aim to unlock further commercial and investment opportunities between the two nations.
This development builds upon the recently signed Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Colombia. The MoUs solidify the commitment of both countries to foster a new era of collaboration and mutual economic growth.
Ahmed Khalifa Al Qubaisi, CEO of the Abu Dhabi Chamber of Commerce and Industry, signed the MoUs on behalf of the UAE, while Colombian signatories included the Executive Vice President of the Colombian Chamber of Commerce and Paola Buendía García, Executive Vice President of the National Business Association of Colombia.
Abdullah Mohamed Al Mazrouei, Chairman of the UAE Chambers, emphasized the MoUs’ alignment with the UAE’s national goals and the UAE-Colombia CEPA. These agreements are expected to facilitate knowledge and expertise exchange, strengthen commercial and investment cooperation between businesses, and contribute to sustainable development in both countries.
Key areas of focus include the exchange of knowledge and training experiences in economic development, fostering increased commercial opportunities, and expanding economic and industrial cooperation between UAE and Colombian companies. Additionally, the MoUs pave the way for trade and economic delegation visits, as well as joint participation in international events, exhibitions, and conferences.