DUBAI, United Arab Emirates--(BUSINESS WIRE)--The volume of trade between Dubai and Colombia continues to show solid growth with bilateral trade increasing by average annual growth rate of 18.9% to $63.8 million between 2010 and 2015.
Re-exports grew at an average annual rate of 56.5% to $17.9 million during the same period. Imports and exports, meanwhile, grew by 48.1% and 5%, respectively, to reach $35 million and $10.76 million.
Dubai Chamber of Commerce and Industry has released these figures as it prepares to host the upcoming Global Business Forum on Latin America. The event is being organised by the Chamber on November 9-10, 2016, at Atlantis – The Palm, Dubai, under the theme of “Shifting Synergies”.
“Colombia’s economy is built on many of the same sectors and industries that we excel in here in Dubai,” said His Excellency Hamad Buamim, President and CEO at Dubai Chamber.
“Finance, insurance, real estate, and business services make up a fifth (19.86%) of the Colombian economy, while construction makes up 7.47%; this opens up several avenues for cooperation between our two countries. We at Dubai Chamber intend to establish synergetic relationships with our partners in Colombia.”
Organised under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice-President and Prime Minister and Ruler of Dubai, the Forum seeks to explore new investment and business opportunities between Latin America and the Middle East.
More than 500 prominent stakeholders are expected to take part in the Forum, including heads of state, policymakers, CEOs, business leaders, investors, industry professionals, in addition to heads of private banks, sovereign wealth funds, and private equity firms.
With Colombia boasting the fastest growing information technology industry in the world and the longest fibre optic network in Latin America, opportunities for its cooperation with Dubai and the UAE are vast as the latter pushes forward with its plans to build cities of the future, as outlined in the country’s strategies and goals.
Website for Global Business Forum on Latin America: http://www.gbflatinamerica.com
*Source: ME NewsWire