Abu Dhabi-July 29.2024:In a landmark visit aimed at enhancing economic relations, President Gabriel Boric of Chile, accompanied by a high-level delegation, visited the Dubai Chamber of Commerce. This visit is part of a broader agenda to strengthen the economic partnership between Chile and the UAE following the signing of the Comprehensive Economic Partnership Agreement (CEPA).
Upon arrival, President Boric and his delegation were warmly received by Sultan Ahmed bin Sulayem, Chairman of Dubai International Chamber. The meeting highlighted the longstanding ties between the two nations and the significant progress made in recent years. Both leaders underscored their commitment to expanding bilateral relations across various economic fields.
Key Discussions and Agreements
During the business forum at Dubai Chambers headquarters, President Boric highlighted the opportunities for Chilean companies to benefit from Dubai’s strategic advantages as a global trade and logistics hub. Sultan Ahmed bin Sulayem emphasized Dubai’s commitment to supporting Chilean businesses, particularly in the context of the newly established ‘Foodstuffs, Fruits, and Vegetables Market,’ the world’s largest logistics hub for the trade of these products. This market serves as a strategic gateway for Chilean food companies seeking to export their products globally via Dubai.
Memorandum of Understanding
A significant outcome of the visit was the signing of a Memorandum of Understanding (MoU) between Dubai Chambers and ProChile, the Chilean Exports Promotion Bureau. The MoU aims to enhance trade and investment cooperation and economic partnerships between the two entities. It was signed by Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, and Ignacio Fernández, General Director of ProChile, in the presence of President Boric and Sultan Ahmed bin Sulayem.
Ignacio Fernández expressed his optimism about the strengthened trade relationship, stating, “We believe the UAE can become a very important business partner for Chile as we diversify the goods and services we export. Dubai Chambers is a key ally in connecting exporting companies and facilitating bilateral trade.”
Future Prospects
The agreement outlines plans for coordinating events aimed at strengthening ties between exporting companies from Dubai and Chile and supporting the expansion of these companies in both markets. It also includes developing joint initiatives to expand cooperation in trade, innovation, sustainability, and entrepreneurship. Additionally, the MoU aims to enhance the diversification of goods and services trade and increase commercial exchange between Dubai and Chile.
The visit concluded with discussions on future collaborations, particularly in logistics, technology, and sustainable development, aligning with Dubai’s vision of creating a smarter, more efficient global trade network. President Boric’s visit to Dubai Chamber marks a significant step in fostering economic growth and innovation, setting the stage for a robust trade and investment corridor between South America and the Gulf.
Source: Emirates News Agency WAM
