ID :
24424
Tue, 10/14/2008 - 16:32
Auther :
Shortlink :
https://oananews.org//node/24424
The shortlink copeid
UAE, Columbia eye stronger economic, trade relations
Abu Dhabi, Oct 14, 2008 (WAM) - UAE Minister of Foreign Trade H.E. Sheikha Lubna Al Qasimi and visiting Columbian Minister of Commerce, Industry, '&' Tourism Luis Guillermo Plata yesterday discussed investment and trade relations and cooperation on encouraging the private sector to initiate joint projects in the UAE and Columbia.
The two sides also discussed increasing Columbian investments in the UAE agricultural and animal resources sectors and tapping competitive business environment.
Briefing the Colombian official on the UAE economic growth. Sheikha Lubna said the foreign trade accounted for 157.7% of GDP in 2007 up from 144.3% in 2006. She noted that the UAE trade surplus reached Dh 178 billion due to growth of non-oil exports.
Al Qasimi also expressed the UAE's interest in attracting Columbian investments into industrial, agricultural, animal resources sectors.
She also urged for realizing Columbia's interest in starting flights between UAE and Columbian cities to further boost investments and trade.
Asked about possible talks with the South American country on free trade agreement, Sheikha Lubna said such talks must be made in the framework of the Gulf Cooperation Council.
For his part, the Columbian minister expressed his country's interest in boosting trade with the UAE and said UAE officials are invited to visit his country to further explore the process of development and potential opportunities for economic cooperation.
Non-oil trade between UAE and Columbia reached US$10.5 million in 2007, up from US$7 in 2006. Major UAE exports to Columbia include Aluminium, oils, gypsum and electrical devices while major Columbian exports to UAE include animal products, rubber and precious stones.
Columbia's is the third receptor of foreign investments in Latin America. It is the second country in the world in biodiversity and enjoys huge tourism potentials thanks to its extremely wide range of climates and landscapes.
The two sides also discussed increasing Columbian investments in the UAE agricultural and animal resources sectors and tapping competitive business environment.
Briefing the Colombian official on the UAE economic growth. Sheikha Lubna said the foreign trade accounted for 157.7% of GDP in 2007 up from 144.3% in 2006. She noted that the UAE trade surplus reached Dh 178 billion due to growth of non-oil exports.
Al Qasimi also expressed the UAE's interest in attracting Columbian investments into industrial, agricultural, animal resources sectors.
She also urged for realizing Columbia's interest in starting flights between UAE and Columbian cities to further boost investments and trade.
Asked about possible talks with the South American country on free trade agreement, Sheikha Lubna said such talks must be made in the framework of the Gulf Cooperation Council.
For his part, the Columbian minister expressed his country's interest in boosting trade with the UAE and said UAE officials are invited to visit his country to further explore the process of development and potential opportunities for economic cooperation.
Non-oil trade between UAE and Columbia reached US$10.5 million in 2007, up from US$7 in 2006. Major UAE exports to Columbia include Aluminium, oils, gypsum and electrical devices while major Columbian exports to UAE include animal products, rubber and precious stones.
Columbia's is the third receptor of foreign investments in Latin America. It is the second country in the world in biodiversity and enjoys huge tourism potentials thanks to its extremely wide range of climates and landscapes.
