New Delhi, Oct 9
Victor Hugo Echeverri Jaramillo, Ambassador of Colombia to India, on Thursday highlighted the growing potential for trade and investment between the two nations, underlining that in times of rapid geopolitical shifts, finding "trustworthy partners" is essential -- a role both India and Colombia fulfil.
In an interview with IANS, the Colombian envoy described New Delhi and Bogota as "reliable partners" and expressed optimism that bilateral ties would continue to expand not only politically and commercially but also culturally.
"We have significant opportunities nowadays, especially at this time when there is a global trade war marked by tariffs. We need reliable partners, and I believe India and Colombia have great potential in this regard. The bilateral trade between our two countries currently stands at around $4.7 billion per year. There is a clear opportunity to expand this even further," Jaramillo said.
He explained that Colombia exports over $3 billion worth of goods to India, while India's exports to Colombia are valued at around $1.4 billion. Indian companies are already active in Colombia, mainly in sectors such as pharmaceuticals, three-wheelers, services, and technology.
"On the other hand, Colombia primarily exports energy products to India, including oil and thermal coal. This shows that our economies are complementary, giving us scope to enhance cooperation further. In terms of investment, we are pleased to have major Indian companies investing in Colombia," the Ambassador added.
Jaramillo pointed out that Colombia's network of free trade agreements provides access to over 1.5 billion consumers worldwide, presenting "a huge opportunity for Indian companies to set up operations in Colombia and benefit from this network".
He also emphasised the importance of high-level political exchanges in strengthening bilateral ties.
"In April 2023, we had the honour of hosting India's Minister of External Affairs, S. Jaishankar -- the first-ever visit by an Indian Foreign Minister to Colombia. It was a landmark event, and since then, we have been developing a constructive agenda together," he said.
"Recently, we also welcomed the visit of P. Kumaran, Secretary (East) at India's Ministry of External Affairs. This has opened new avenues for cooperation. In recent years, we have signed several Memorandums of Understanding and received visits from two Colombian vice ministers to India," Jaramillo added.
He highlighted collaboration through India's ITEC programme and noted strong potential in the audiovisual sector, citing a recent agreement to encourage joint film and media productions between Indian and Colombian companies.
"Our bilateral ties are growing not only in politics and trade but also in culture and cooperation," the Ambassador concluded, emphasising the wide-ranging opportunities for deeper engagement between the two nations.
— IANS
Reader Comments
Great to see India expanding its global footprint. Colombia's access to 1.5 billion consumers through FTAs is a massive opportunity for Indian businesses. Hope our government pushes for more such partnerships.
While I appreciate the positive tone, I hope we're not just focusing on energy imports. We should ensure this partnership benefits both countries equally and creates jobs in India too.
Colombian coffee is amazing! Hope this partnership means we get more authentic Colombian products in Indian markets. The cultural exchange through films sounds exciting too!
As someone working in international trade, I can confirm Colombia is an emerging market with great potential. Indian companies should seriously consider setting up operations there.
Finally some positive international news! In these uncertain times, building strong partnerships like this is exactly what India needs. More power to our diplomats! 🙌
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