Page 604 - MOE ENGLISH PR - APRIL 2024

4/24/24, 11:54 AM Dailyhunt
UAE, Columbia boost trade, investment cooperate with CEPA

signing

Emirates News Age… . 4d ago
BOGOTA, Colombia, 19th April, 2024 (WAM) -- Gustavo Petro, President of the
Republic of Colombia, received Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, at the Presidential Palace in the
capital Bogota, on the sidelines of a high-level UAE delegation's visit to Colombia.

President Gustavo Petro and Dr. Thani Al Zeyoudi affirmed that the Comprehensive Economic Partnership Agreement (CEPA) is a
significant milestone in UAE-Colombia relations, as their bilateral non-oil trade reached US$553.1 million in 2023, a record increase
of 43 percent compared to 2022 and more than double the total achieved in 2021.

The CEPA is expected to double these figures within five years of its implementation by reducing customs tariffs, removing trade
barriers, and improving market access for exports of goods and services.

The agreement will also open up avenues for investment and joint ventures in sectors, such as energy, environment, hospitality,
tourism, infrastructure, agriculture, and food production.

During the visit, Dr. Al Zeyoudi met with a number of ministers, senior government officials, and private sector representatives to
boost economic cooperation and bilateral relations following the signing of the CEPA between the two countries.

Dr. Al Zeyoudi discussed with Germán Umaña Mendoza, Minister of Trade, Industry, and Tourism of Colombia, ways to enhance
economic, investment, and trade relations and create an effective trade and investment climate within the framework of the CEPA to
contribute to the free flow of trade and investment between the two countries.

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