DUBAI, 12th December, 2024 – The Dubai International Chamber, operating under the Dubai Chambers umbrella, has officially inaugurated a new representative office in Bogotá, Colombia’s capital city.
This strategic launch aims to bolster economic relations and strengthen trade and investment ties between the business communities of Dubai and Colombia.
The Bogotá office marks the chamber’s 33rd international representative office, aligning with the ambitious ‘Dubai Global’ initiative. This program seeks to establish 50 representative offices worldwide by 2030, reinforcing Dubai’s position as a global business hub by attracting foreign direct investment (FDI) and supporting the international growth of Dubai-based companies in 30 priority markets.
Economic ties between Dubai and Colombia have been on an upward trajectory, with non-oil trade between the two reaching AED 1.9 billion in 2023—a year-over-year increase of more than 51%. As of September 2024, 131 Colombian companies were active members of the Dubai Chamber of Commerce.
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, emphasized the significance of this milestone:
“Expanding our global network of offices is vital to enhancing Dubai’s trade and investment ties and solidifying its status as a leading business destination. Latin America offers immense opportunities for bilateral trade and investments, and the Bogotá office will be key to unlocking this potential.”
The new office is expected to play a crucial role in fostering collaboration between Dubai and Colombia’s business communities. It will promote Dubai’s competitive advantages, provide investment intelligence, and facilitate connections for Colombian companies seeking to enter Dubai’s dynamic market as a gateway for global expansion.
Simultaneously, the Bogotá office will offer Dubai-based companies valuable market insights and access to trusted stakeholders in Colombia. It will assist businesses in identifying opportunities, building partnerships, and scaling their operations within the Colombian market.
This initiative further underscores Dubai’s commitment to fostering global economic growth, driving investment, and supporting international business expansion.
SOURCE: (WAM)/PHOTO: DUBAI CHAMBERS
