The Dubai Chambers has signed a memorandum of understanding (MoU) with the Chamber of Commerce and Services of Uruguay (CCSUY) to promote effective cooperation in the areas of trade, industry and services.
As per the term of the MoU, the two chambers will join forces to boost and expand cooperation, trade and business between their respective members. Further, the two entities will exchange key information related to economic, commercial and industrial matters, including information on sectors of mutual interest, as well as business opportunities in the UAE and Uruguay.
Dubai Chambers and CCSUY will also organize business delegations and encourage their respective members to participate in seminars, webinars, trade fairs, exhibitions and conferences.
The signing of the MoU was followed by the UAE-Uruguay Business Forum, which was attended by Dr. Luis Lacalle Pou, President of Uruguay, Mr. Sultan Bin Sulayem, Chairman of Dubai International Chamber, Mr. Hamad Buamim, President and CEO of Dubai Chambers, and a high-level delegation of Uruguayan government officials and businessmen.
During the forum, the Uruguayan President highlighted the importance of developing economic relations between the UAE and his country and benefiting from the capabilities of both sides to strengthen bilateral ties and investment cooperation.
Uruguay is looking forward to fruitful economic and trade relations with the UAE, Dr. Pou stated, calling on Emirati companies to come to Uruguay and invest, especially as the country provides an ideal environment for the growth of investments in various sectors that can achieve common goals and interests.
Commenting on the MoU, Mr. Bin Sulayem said the agreement builds new bridges of cooperation between business communities in the UAE and takes Dubai’s trade relations with Uruguay to the next level. The presence of Dr. Pou reflects Uruguay’s strong commitment to building economic partnerships with the UAE, he noted.
Dubai’s non-oil trade with Uruguay reached $14.6 million in 2020, accounting for a majority of the UAE’s trade with the Latin American country, Mr. Bin Sulayem revealed, adding that there is plenty of untapped trade potential that Uruguayan companies and their UAE counterparts can benefit from.
Uruguayan delegates reaffirmed the country’s commitment to the Emirati institutions in the constant work to seek and create opportunities for cooperation and exchange at the commercial, technological and investment levels between both economies, which have high potential and great complementary with each other, in terms of trade of goods and services.