"Dubai Multi Commodities" signs a historic agreement with Colombia to establish a free zone
During the official announcement of the Colombia Free Zone development project.
From the source
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 MoU, the International Trade Zone will be developed and operated under a partnership agreement between DMCC and Dacia U Ventures, an international investment holding company, and in direct cooperation with Colombia's federal and national government agencies.
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.
The Cartagena International Trade Zone will become the first regional common law arbitration center in Latin America.
The Dubai Multi Commodities Center and the International Trade Zone in Cartagena will also provide member companies with the possibility to implement the Mutual Recognition Agreement, which will enhance bilateral trade opportunities.
Official Announcement
The President of the Colombian Senate, Juan Diego Gómez Jiménez, announced the project officially during the FORO #23 forum held in the United States, in the presence of the Colombian Deputy Ministers of "Commerce and Tourism", "Justice and Law", the Mayor of Cartagena, and the Chief Executive Officer and CEO For DMCC, Ahmed bin Sulayem, and representatives from U-Venture.
commercial lane
Ahmed bin Sulayem, CEO and CEO of DMCC, said that this step will contribute to shaping the future of trade, by creating 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 to Great growth opportunities between the two parties.
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