The UAE Federation of the Chambers has recently sealed two Memoranda of Understanding (MoUs) with Colombian counterparts, aiming to enhance investment and trade prospects between the two nations. These agreements also pave the way for the establishment of a joint business council, marking a significant step towards closer cooperation.
In line with the recently ratified Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Colombia, these MoUs signify a commitment to ushering in a new era of collaborative economic growth. The partnership seeks to unlock further commercial and investment opportunities, fostering mutual prosperity for both countries.
Ahmed Khalifa Al Qubaisi, CEO of the Abu Dhabi Chamber of Commerce and Industry, acted as the signatory for the UAE Chambers. Representing Colombia were the Executive Vice President of the Colombian Chamber of Commerce, along with Paola Buendia Garcia, the Executive Vice President of the National Business Association of Colombia.
Also Read : Donald Trump’s Initial Week In The Hush-Money Trial: A Recap
Abdullah Mohamed Al Mazrouei, Chairman of the UAE Chambers and Chairman of the Abu Dhabi Chamber’s Board of Directors, emphasized the significance of these MoUs. He highlighted that these agreements are in line with national objectives aligned with the UAE-Colombia CEPA. Al Mazrouei stressed that the MoUs would facilitate the exchange of knowledge and expertise, thereby strengthening commercial and investment cooperation between businesses and contributing to comprehensive and sustainable development.
Under these MoUs, the parties will engage in the exchange of knowledge and training experiences in economic development, aiming to enhance commercial opportunities and foster economic and industrial collaboration between companies in both countries. Moreover, the agreements facilitate trade and economic delegation visits, encouraging collaboration to enable companies from both nations to participate in international events, exhibitions, and conferences.
These developments underscore the commitment of both the UAE and Colombia to bolster their economic ties and promote mutual prosperity. With the signing of these MoUs and the UAE-Colombia CEPA in place, both countries are poised to explore new avenues for economic growth and collaboration, paving the way for enhanced trade and investment opportunities.
