The United Arab Emirates and Colombia attach great importance to developing their trade and economic relations. The UAE is one of the world’s leading commercial and financial hubs, hosting numerous international companies, including Colombian firms seeking to expand into markets across the Middle East, Africa, and Southeast Asia. Conversely, Colombia is the fourth-largest economy in South America, endowed with rich biodiversity and a highly skilled human capital base, enhancing its capacity to attract Emirati investments.
The UAE and Colombia share a common vision regarding the transition to clean energy, environmental protection, climate change mitigation, and artificial intelligence. There is also mutual interest in food security and investing in opportunities within renewable energy and green hydrogen sectors. These areas offer promising opportunities for bilateral cooperation. On December 5, 2023, Her Excellency Reem Al Hashimy, UAE Minister of the UAE for International Cooperation, and His Excellency Álvaro Leyva, Colombia’s Minister of Foreign Affairs, signed the minutes of the second session of the UAE-Colombia Joint Economic Committee, held at Expo City Dubai on the sidelines of the UN Climate Change Conference (COP28).
In April 2024, the Comprehensive Economic Partnership Agreement (CEPA) was signed between the United Arab Emirates and the Republic of Colombia, in the presence of His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and His Excellency Germán Umaña, Colombia’s Minister of Trade, Industry, and Tourism. The agreement was signed virtually, attended by His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and His Excellency Gustavo Petro, President of Colombia. The agreement received significant attention from Colombian media, which highlighted its role in strengthening cooperation between the two friendly countries, advancing their growing economic relations, and establishing strong alliances to boost economic growth and support the development of small and medium-sized enterprises in Colombia. Furthermore, the agreement opens new avenues for collaboration in key sectors such as food security, renewable energy, and more.
Economic relations between Colombia and the UAE are witnessing remarkable growth, driven by a shared desire to strengthen bilateral cooperation. This collaboration spans various sectors including trade, agriculture, renewable energy, tourism, and infrastructure. Bilateral trade and mutual investments are expected to grow significantly in the coming years, supported by aligned economic interests and the opening of new logistical and financial channels.
