With the Arab-Colombian Chamber of Commerce, the country will seek to expand the sales of its ‘commodities’ in the Middle East.
Cecilia Porras, president of the Arab-Colombian Chamber of Commerce (CCAC) explained the country’s strategy at the ExpoDubai international fair to promote the oil and mining operation, with a view to achieving new investments for these sectors.
The union leader stressed that the work in the missions of the National Mining Agency (ANM) and the National Hydrocarbons Agency (ANH) is not new in this global event, and proof of this is the emerald operation.
“This international showcase has helped to pull mining investments in the regions of the country. In the case of Boyacá, in 2016 the strategy to bring resources and foreign trade began to be built, in which it is not only sought to expand the emerald operation, but at the same time to open the market to the commodites produced by the country.”
ExpoDubai is the space for Colombia not only to strengthen trade relations in mining and oil with the United Arab Emirates (UAE), but with all the countries of that region.
“The results of the commercial management of the two missions at the fair will only be known until February and/or March when the number of closed businesses are actually established, possible investments for mining and oil development, as well as future transactions of Colombian commodities in the market of Arab countries,” the president of the CCAC made clear.
He added that this market has been maintained thanks to metals such as national gold, since just last year just over $180 million were exported, and that the starting point for re-exports from the UAE. Arab countries are large consumers of metal, since it is part of their same cultural vision that has spread for generations,” said Porras.
Precisely, from the Chamber, the bridges have been laid in terms of procedures so that Colombian marketing companies can market commodities in the countries of the Middle East as a result of the efforts at ExpoDubai, and at the same time that companies or financial groups are interested in developing extractive operations in the country, such as the Mubala Fund in the Soto Norte gold project (Santander).
“Our interest is that long-term relations are established, for this reason there are several funds from Arab countries interested in investing in Colombia to promote the mining and oil operation,” stressed the president of the CCAC.
But not only emeralds and gold are of interest to Arab countries, the demand for coal has also increased, and the latest versions of the fair have allowed the country to increase sales of the mineral in that region.
“Colombia’s coal has increased its sales in countries such as the UAE, where the balance records have been interesting in terms of results. This is due to the fact that its consumption has increased for industrial use,” said the president of the CCAC.