He commended the UAE's efforts to lead the global economic recovery
President of the «Bogota Chamber»: Dubai has unique advantages to support business
The UAE has succeeded in diversifying its economy and reducing its dependence on oil as a source of income.
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Nicola Uribe Rueda: "Dubai is establishing itself as an international hub for innovation and technology, and has a strong infrastructure and business accelerators for startups."
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The CEO of the Colombian Chamber of Commerce, Nicolas Uribe Rueda, stressed the existence of several opportunities to expand cooperation between his country, the UAE and Dubai, describing the UAE's exceptional efforts in implementing a national strategy for innovation, science and technology, and stimulating this culture in the public and private sectors.
He pointed out that the UAE has succeeded in diversifying its economy and reducing its dependence on oil as a source of income, as technology and innovation are at the forefront of its economic strategy, in addition to its interest in small and medium-sized companies, considering them as an engine of competitiveness and prosperity, pointing out that Dubai has unique advantages to support business.
Rueda told "Emirates Today" that "by talking about the reasons why Latin American and Caribbean countries are seeking economic cooperation opportunities with the UAE, the UAE ranks 33rd among the world's most innovative countries in the Global Innovation Index, and first in the Arab world for five consecutive years." He noted Dubai's keenness to consolidate its position as an international center for innovation and technology, to develop a strong and flexible infrastructure, including business incubators and accelerators for emerging companies, and to create new business models based on technology and innovation, led by institutions such as the Dubai Future Foundation and the Dubai Chamber of Commerce.
The volume of trade exchange between the UAE and Colombia is expected to reach one billion dollars (3.67 billion dirhams) by 2030, while the volume of exports currently reaches 132 million dollars.
Big Events
In response to a question about the impact of major events hosted by the UAE, such as "Expo 2020 Dubai" and the Global Business Forum for Latin American Countries, on the economies of other countries, Rueda said: "These events are an ideal platform for our region to learn from the best practices applied by the UAE. and Dubai, to support SMEs in the digital transformation process, as changes in customer behavior resulting from the (Covid-19) pandemic and the growing need to add value to our developing economies, which were based on commodities, are prompting us to take major steps towards supporting the digital transformation of pillars The mainstay of our economies are our small and medium businesses.
business forum
Rueda continued, “The Latin American Business Forum is an appropriate platform to accelerate economic recovery in Latin America and the Caribbean.
At a time when the pandemic cast a shadow over our region due to the presence of structural challenges at the level of economic systems, the region showed remarkable resilience during these difficult times and was able to deal with the challenges of the pandemic.
Economic activity in our region has recovered much faster than expected, due to the continued progress of comprehensive vaccination plans, the gradual reopening of our economies, and important fiscal and monetary stimulus implemented by governments.”
Corona pandemic
In another question about the impact of the (Covid-19) pandemic on the region of Latin America and the Caribbean, Rueda pointed out that for this region, the opportunities created by the pandemic have not been fully exploited, noting that it was possible to benefit from the potential in the field of Better digital technologies and innovations, especially since the pandemic has accelerated the process of digital transformation of companies, especially small and medium-sized companies, which did so, because it was the only way to ensure the continuity of their work, and because it represents in that region 99.5% of the total companies, and provides 60% of the total jobs, and contribute 25% of GDP, according to the United Nations Development Program.
Rueda stressed that SMEs must be supported, by asking governments and key stakeholders to work on setting appropriate policies and changing educational curricula;
and increased investment in science, technology and innovation.
He added, "The forecasts of various multilateral organizations such as the World Bank and the International Monetary Fund allow us to predict that growth for 2022 will be around (4.5% and 5%), which makes the Colombian economy among the list of economies expected to achieve the highest growth expectations in Latin America."
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