The United Arab Emirates (UAE) announced on Saturday, the successful conclusion of a comprehensive trade deal with Colombia. This marks the first bilateral agreement between the Gulf region and South America.
Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, expressed optimism about a new era of cooperation that would foster growth for both nations.
According to the UAE state news agency WAM, the Comprehensive Economic Partnership Agreement, once implemented, will play a pivotal role in “removing or reducing tariffs on the majority of product lines, eliminating unnecessary barriers to trade, improving market access, and deepening collaboration.”
The sectors affected by the agreement span energy, telecommunications, tourism, and food production, promising enhanced economic ties between the two nations.
