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UAE-Colombia trade at Dhs107m in H1
February 02, 2013
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ABU DHABI: The trade volume between the UAE and Colombia reached around Dhs184 million in 2011, while the trade stood at Dhs107 million in the first half of 2012.

Juma Al Kait, Assistant Undersecretary for Foreign Trade Affairs at the Ministry of Foreign Trade, has met at the Ministry’s Abu Dhabi Headquarters with a Colombian delegation that visited the UAE to take part in the Arab Health Exhibition and Congress 2013, which was held in Dubai from 28th 31st January 2013.

The delegation members, who included Colombian businessmen and investors, were accompanied by the Executive Representative of the Commercial Office at the Embassy of Colombia in the UAE, Juanita Bell.

During the meeting, the delegation was briefed on the UAE s trade structure and trade and investment opportunities that are available for companies wishing to establish offices in or out of the country s specialised free zones.

Addressing the visiting delegation, Al Kait pointed out that the UAE is considered one of the world s leading countries in trade facilitation and investor protection, adding that the country is also a global meeting hub for investors from East and West.

He also pointed out that the healthcare sector constitutes one of the most important components of the UAE Vision 2021 , a factor that opens the door for more investments -particularly technical investments in the healthcare sector -especially in light of the rapid developments the UAE is currently witnessing.

Al Kait also answered a number of questions the Colombian delegation had about business setup requirements in the UAE and about the country s investment legislations.

For their part, the members of the Colombian delegation expressed their great interest in the UAE market and in the country s various opportunities and investment conducive climate -especially in the healthcare sector. They also expressed their interest in taking advantage of the country s geographic location and logistical prowess, which they said they could use as a launching pad to expand their business activities into other countries in the region.

Meanwhile, the foreign non-oil trade of the UAE maintained its positive growth rates during the period from January to July 2012 compared to the same period in the last year.

The preliminary statistics of the Federal Customs Authority (FCA) recently showed higher foreign non-oil trade at 12 per cent in January-July 2012. The total foreign trade climbed by Dhs62.8 billion to Dhs593.8 billion compared to Dhs531 billion during the same period in the last year.

The data of the UAE foreign non-oil trade reflected several positive indicators within the first seven months of 2012, the FCA said. These indicators include the ever-increasing growth rates of exports at 45 per cent, with the total export increasing by Dhs19.7 billion to Dhs94.7 billion compared to Dhs65 billion in the same period of the last year.

WAM

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