The UAE Federation of Chambers has recently solidified its commitment to boosting investment and trade opportunities by signing two Memoranda of Understanding (MoUs) with Colombian counterparts. These MoUs mark a significant step in establishing a joint business council, further strengthening the economic relationship between the two nations. These agreements are strategically aligned with the Comprehensive Economic Partnership Agreement (CEPA) signed between the UAE and Colombia, signaling a new chapter of cooperation aimed at unlocking commercial and investment potential for both countries.
Ahmed Khalifa Al Qubaisi, representing the UAE Chambers, and Colombian counterparts, including the Executive Vice President of the Colombian Chamber of Commerce and the Executive Vice President of the National Business Association of Colombia, formalized these MoUs to enhance bilateral economic ties. Abdullah Mohamed Al Mazrouei, Chairman of the UAE Chambers and the Abu Dhabi Chamber's Board of Directors, emphasized the significance of these agreements in supporting national objectives in line with the UAE-Colombia CEPA. These MoUs are not only expected to promote knowledge and expertise exchange but also to strengthen commercial and investment cooperation, contributing to overall comprehensive and sustainable development initiatives.
The focus of these MoUs goes beyond mere paperwork, as they aim to facilitate knowledge sharing and training experiences in economic development, creating a platform for increased commercial opportunities and expanded economic and industrial cooperation between companies from both nations. Moreover, the agreement promotes trade and economic delegation visits, fostering collaboration that enables businesses from the UAE and Colombia to participate in various international events, exhibitions, and conferences. These collaborative efforts are poised to drive economic growth and prosperity while strengthening the commercial ties between the UAE and Colombia.