Cartagena International Trade Zone modeled after the center in Dubai
"Dubai Multi Commodities" signs a historic agreement with Colombia to establish a free zone
The Dubai Multi Commodities Center, the free zone and authority of the Government of Dubai concerned with trade in goods and projects, has entered into a historic agreement with the Colombian authorities, under which it will participate in the development of a commercial center and free zone in the city of Cartagena de Indias, Colombia.
free zone
Under the memorandum of understanding, the International Trade Zone in Cartagena will be developed and operated as part of a partnership agreement between DMCC and Dacia U Ventures, an international investment holding company specializing in the design, financing, development and operation of large-scale international projects, and in direct cooperation with Federal and national government bodies in Colombia.
The Free Trade Zone will be an English common law jurisdiction and will offer its members an international business platform with unique benefits such as arbitration facilities, insurance against potential risks in Colombia, a global trading network and access to capital.
Upon its establishment, the Cartagena International Trade Zone will become the first regional common law arbitration center in Latin America.
The DMCC and the International Trade Zone in Cartagena will also provide member companies with the possibility of implementing a mutual recognition agreement (passporting) between the two regions, which will enhance bilateral trade opportunities and provide greater access to global markets.
Official Announcement
The President of the Colombian Senate, Juan Diego Gómez Jiménez, announced the project officially during the FORO#23 Forum held in Miami, USA, in the presence of the Colombian Deputy Minister of Commerce and Tourism;
Deputy Minister of Justice and Law of Colombia;
the mayor of Cartagena;
Ahmed bin Sulayem, the CEO and CEO and CEO of DMCC, and representatives from U-Venture.
commercial lane
Ahmed bin Sulayem, CEO and CEO of DMCC, said: “We are proud to be the fastest growing free zone in the world, with the number of member companies registered in the center exceeding the 20,000 mark.
We are pleased to partner with U Venture to establish a commercial center and free zone in Cartagena de Indias, Colombia.”
He stressed that this step will contribute to shaping the future of trade, by establishing a new physical and digital trade corridor between Colombia and Dubai, while at the same time supporting the national strategic goals of the State of Colombia, and opening a door of great growth opportunities between the two parties.
He added that the experiences of the DMCC, which extend for more than 20 years, have resulted in a sophisticated trade system and a pioneering free zone, which has become a model for global markets in terms of interconnectedness and growth.
Historic opportunity
For his part, CEO of "U Ventures", Javier Adcera, said that the establishment of this project, which has all the ingredients for success at the global level, provides a historic opportunity for Colombia to strengthen its position at the international level, and for Latin America to develop a financial and commercial center among the capital markets. Globalism.
credit rating
This project is expected to significantly improve the standard credit rating of Colombia, and attract foreign direct investment, which will lead to providing more business opportunities at the local and international levels.
The Cartagena International Trade Zone will also be modeled on the Dubai Multi Commodities Centre, as the world's fastest growing free zone and a global hub for commodities and enterprise.
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