We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Tue 14 Oct 2008 04:25 PM

Font Size

- Aa +

Colombia in talks with Abu Dhabi funds

Officials from South American nation meet with ADIA and Mubadala as countries look to boost ties.

Colombian trade officials held talks this week with the Abu Dhabi Investment Authority (ADIA) and Mubadala Development Co. as the South American country aims to strengthen trade ties with the UAE.

The two nations are already planning to open commercial flights between the UAE and Colombia as a first step towards increasing bilateral trade, Colombian Minister of Trade and Industry Luis Guillermo Plata said in an interview in Dubai on Tuesday.

“We negotiate the route - it will give the right for Colombian airlines to come here and UAE carriers to go to Colombia - whether that’s Etihad or Emirates - that is up to them,” he said.

Colombia is negotiating a series of foreign trade agreements as it seeks to boost inward investment amid the worst global financial crisis in 80 years.

Colombian central bank chief Jose Dario Uribe on Sunday lowered his estimate for growth in 2009 to 4 percent from an earlier projection of 5 percent.

Colombia earlier this month eliminated capital controls on foreign investment in a move designed to increase access to foreign capital.

Arabian Business: why we're going behind a paywall

Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.