DMCC Sees 21% Surge in Colombian Companies and Strengthens Ties with Bogota Chamber

UAE, 30 August, 2024 : The Dubai Multi Commodities Centre (DMCC) has seen a 21% increase in Colombian companies joining its ranks in 2024, bringing the total to 23 Colombian businesses and over 150 from South America.

In a move to strengthen economic ties, DMCC signed a Memorandum of Understanding (MoU) with the Bogota Chamber of Commerce. The partnership aims to enhance economic information exchange and support business growth through targeted initiatives.

These developments were announced following DMCC’s successful "Made For Trade Live" roadshow in Colombia, focusing on sectors like coffee, precious stones, and technology. The roadshow, which visited Bogota and Medellin, aimed to promote Dubai as a global hub for Colombian businesses.

The visit aligns with the UAE-Colombia Comprehensive Economic Partnership Agreement (CEPA), expected to double non-oil bilateral trade to $1 billion within five years. DMCC’s Executive Chairman and CEO, Ahmed Bin Sulayem, highlighted Colombia's strong export potential in commodities like coal, coffee, and gold, noting the new partnership as a key opportunity to deepen regional connectivity.

The UAE’s Ambassador to Colombia, Mohamed Alshamsi, praised the roadshow's role in enhancing bilateral trade and cultural exchange. Ovidio Claros, Executive President of the Bogota Chamber of Commerce, emphasized that the MoU would offer Colombian businesses new opportunities for market expansion and economic collaboration.

DMCC’s roadshow, held in partnership with the UAE Embassy in Bogota and the Bogota Chamber of Commerce, attracted over 400 Colombian business leaders, showcasing Dubai's appeal as a premier business destination. The DMCC business district, which contributes 15% to Dubai’s annual foreign direct investment inflows, continues to grow, now hosting over 24,000 businesses globally.

Source : www.zawya.com