The UAE and Colombia are eyeing a $1bn trade relationship as they look to boost business between the two countries.
Mohammed Abdullah Al Shamsi, UAE Ambassador to the Republic of Colombia, met with Ricardo Bonilla González, Minister of Finance and Public Credit of Colombia.
During the meeting, the two sides underlined bilateral relations and discussed economic agreements between both countries, as well as the agenda for collaborations on upcoming initiatives.
UAE-Colombia trade
Al Shamsi affirmed that such agreements will contribute to attracting more investments and enhancing trade and economic partnerships between both nations.
In 2023, non-oil bilateral trade between the UAE and Colombia witnessed an approximate increase of 40 per cent compared to 2022.
Through ratifying agreements, the trade volumes between both nations could grow to $1bn over the next five years.
The meeting reflects both countries’ continuous endeavours to advance economic cooperation between the United Arab Emirates and Colombia, which serves to enhance sustainable development and economic prosperity for the two nations.
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