2024-04-20 00:05:00
The President of the Republic of Colombia, Gustavo Petro, received at the Presidential Palace in the capital, Bogota,
Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, on the sidelines of the high-level visit of the UAE delegation to Colombia.
President Gustavo Pietro and Dr Thani Al Zeyoudi highlighted that the Comprehensive Economic Partnership Agreement constitutes an important milestone in UAE-Colombia relations and represents a further step in prosperous bilateral relations, as trade non-oil bilateral reached 553.1 million dollars (two billion dirhams) in 2023, a record increase of 43%, compared to 2022, and more than double the total achieved in 2021.
His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, may God protect him, and the President of the Republic of Colombia, Gustavo Pietro Urrego, witnessed the day before yesterday, via video communication technology, the signing of a comprehensive economic agreement. partnership agreement between the two countries, aimed at launching a new era of common economic growth.
The Comprehensive Economic Partnership Agreement would help double these figures within five years of implementation, by reducing tariffs, removing trade barriers and improving market access for exports of goods and services .
The agreement will also open avenues for investments and joint projects in sectors such as energy, environment, hospitality and tourism, infrastructure, agriculture and food production.
Al-Zeyoudi said Colombia is the fourth largest economy in South America in terms of gross domestic product, and has high-level skills and abundant natural resources, including coffee, oil, gas, coal and gold, which contribute significantly to its total production. . It also enjoys a strategic location as an economic destination for all South American countries.
He said: “We call on Colombian companies to explore the opportunities offered by the UAE’s growth-enhancing business environment and the capabilities it offers to support the growth of foreign investment and contribute to international trade, as the Emirates has ‘a solid territory. , maritime and air transport network to various markets around the world. Al-Zeyoudi urged participants in the high-level roundtable, which included senior officials and representatives of leading businesses and investors, to build on the growing bilateral relations and strengthen cooperation with the private sector. The Comprehensive Economic Partnership Agreement between the UAE and Colombia is part of the UAE’s Comprehensive Economic Partnership programme, which aims to increase the value of the country’s non-oil foreign trade to four trillion dirhams by 2031, thanks to the signing of global economic partnership agreements. with India, Israel, Indonesia, Turkey, Cambodia and Georgia and Costa Rica.
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