DMCC targets coffee, cacao and emeralds to deepen … – Business – Economy and Finance
DMCC – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – has concluded its Made For Trade Live (MFTL) roadshow in Colombia. As part of a wider roadshow in North and South America, DMCC visited the Colombian capital of Bogotá and the coffee-growing region of Risaralda, highlighting the opportunities on offer to Colombian businesses to expand their businesses internationally and establish deeper trade pathways between the Middle East and South America.
As a trade and production hub for diverse commodities, namely emeralds, gold, coffee and cacao, Colombia represents a key strategic market for DMCC as it looks build on the completion of the first phase of the UAE-Colombia CEPA, which marked an emphatic step in the production of tangible economic results. Bilateral trade between the two nations stands at USD 272 million, with trade and investment expected to triple once the CEPA comes into force.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: “Colombia is such a vibrant market with huge export potential from emeralds to gold and technology. It is also a global powerhouse in agri-food being the third largest coffee producer in the world after Brazil and Vietnam, one of the top 10 producers of cacao, and also one of the most water-rich countries on earth. The UAE and Colombia already enjoy a robust trade dynamic, and as we grow this relationship to the next level, I am delighted to be back in Colombia to build our business connections further and show how Dubai can be the gateway to the global marketplace for Colombia’s rich diversity of sectors and commodities.”
The Made For Trade Live events were hosted in partnership with the UAE Embassy in Bogotá, the Bogotá Chamber of Commerce, Procolombia, Hecho en Risaralda, FIDATEC, and Gobernacion de Risaralda. They saw over 150 business leaders from the two cities briefed on the commercial appeal of Dubai and the ease of doing business within DMCC’s business district.
DMCC’s roadshow across Colombia came as part of a broader series of events across the Americas. DMCC is also visiting the key United States cities of Miami and New York, with the latter event on 30 October marking the end of the roadshow.
DMCC’s Made for Trade Live series plays a key role in promoting Dubai as a prime destination for foreign direct investment (FDI), accounting for 11% of Dubai’s FDI. DMCC attracted a record-breaking 3,049 new companies to the free zone in 2022 and 1,456 new companies in the first half of 2023, bringing the total number to over 23,000 member companies, from large multinationals through to SMEs and entrepreneurs.
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