UAE News Today : Business

DMCC targets coffee, cocoa and emeralds to deepen trade and investment between UAE and Colombia


DMCC, the world’s leading free zone and Dubai Government’s authority for commodity trade and businesses, concluded its Made For Trade Live (MFTL) tour in Colombia.

As part of a broader tour in North and South America, DMCC visited the Colombian capital, Bogotá, and the coffee region of Risaralda, highlighting the opportunities offered to Colombian companies to expand their businesses internationally and establish deeper trade routes between the Middle East and South America.

As a center for trade and production of various commodities, namely emeralds, gold, coffee and cocoa, Colombia represents a key strategic market for the DMCC as it seeks to take advantage of the completion of the first phase of the CEPA between the United Arab Emirates and Colombia, which marked an emphatic step. in the production of tangible economic results. Bilateral trade between the two nations amounts to $272 million and trade and investment is expected to triple once CEPA comes into effect.

Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, saying:

“Colombia is a vibrant market with enormous export potential, from emeralds to gold and technology. It is also a world power in agri-food, being the third coffee producer in the world after Brazil and Vietnam, one of the top 10 cocoa producers and also one of the most water-rich countries on the planet. The UAE and Colombia already enjoy strong trade dynamics and as we take this relationship to the next level, I am delighted to be back in Colombia to further develop our trade connections and show how Dubai can be the gateway to the global market for Colombians. rich diversity of sectors and basic products.”

He Made for live trading The events were organized in collaboration with the UAE Embassy in Bogotá, the Bogotá Chamber of Commerce, Procolombia, Hecho en Risaralda, FIDATEC and Gobernación de Risaralda. They saw more than 150 business leaders from the two cities briefed on the commercial attractiveness of Dubai and the ease of doing business within the DMCC business district.

DMCC’s tour of Colombia was part of a larger series of events across the Americas. DMCC will also visit key US cities Miami and New York, with this latest event on October 30 marking the end of the tour.

DMCC Made for live trading The series plays a key role in promoting Dubai as a top destination for foreign direct investment (FDI), which accounts for 11% of Dubai’s FDI. DMCC attracted a record number of 3,049 new companies to the free zone in 2022 and 1,456 new companies in the first half of 2023, bringing the total number to more than 23,000 member companies, from large multinationals to SMEs and entrepreneurs.

News source: Dubai Press Office


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