ABU DHABI, 19th April, 2024 (WAM) – His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, and His Excellency Gustavo Petro, President of Colombia, have witnessed the signing of a Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Colombia. The agreement was signed by His Excellency Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and His Excellency German Umaña, Minister of Industry, Commerce and Tourism for Colombia.
The CEPA with Colombia is an important part of the UAE’s foreign trade agenda, which aims to enhance bilateral trade flows by cutting tariffs, removing trade barriers, and improving market access for both merchandise and service exports while opening pathways for investment and joint ventures in sectors such as energy, the environment, hospitality, tourism, infrastructure, agriculture, and food production.
The UAE-Colombia CEPA follows an impressive increase in bilateral non-oil trade, which climbed 43% to reach an all-time high of USD 53.1 million in 2023 – more than double the total achieved in 2021. Additionally, the two nations in recent years have signed numerous cooperation agreements, which covered aviation, renewable energy, the environment, hydrogen, travel, free zones, and artificial intelligence.
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