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UAE-Colombia Comprehensive Economic Partnership Agreement ushers in new era of trade, investment cooperation: Al Zeyoudi

UAE-Colombia Comprehensive Economic Partnership Agreement ushers in new era of trade, investment cooperation: Al Zeyoudi
19 Apr 2024 16:09

BOGOTA (WAM)


Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said that the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Colombia marks the beginning of a new era of enhanced trade and investment cooperation between the two friendly nations.

In statements to the Emirates News Agency (WAM), Al Zeyoudi explained that this agreement establishes a solid foundation for economic integration between the business communities and private sectors in both countries, encompassing a wide range of priority sectors.

He pointed out that CEPA will contribute to creating numerous promising investment and trade opportunities, stimulating trade flows between the two sides, and building a flexible and efficient supply chain network that will benefit the economies of both the UAE and Colombia.

Al Zeyoudi further emphasised that the CEPA will grant the UAE extensive access to the Colombian market and the South American markets as a whole, by reducing or eliminating customs duties, enhancing market access, and empowering joint ventures.

Dr. Al Zeyoudi stated that the agreement will open up new avenues for investment in vital areas such as energy, advanced technology, healthcare, tourism, and the environment, offering exceptional opportunities for the UAE's private sector.

The CEPA between the UAE and Colombia is a significant achievement that strengthens bilateral relations between the two countries and contributes to achieving sustainable economic development for both.

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