Bilateral relations between India and Colombia are undergoing a period of great achievements. The whole trade is approaching USD$600 million, growing Indian investments in Colombia and will soon sign a bilateral treaty for the Promotion and Protection of Investments. According to what is called "Diplomacy Management", the current ambassador and his diplomatic mission have led to the signing of agreements between business federations 5 between the two countries and the signing of Memoranda of Cooperation between Indian and Colombian Universities. This year, the Colombian Cultural Week in India will take place, which includes concerts, film festivals, meetings of writers and art exhibitions.
Economic relations between Colombia and India have become more dynamic during the current year thanks to the strengthening of commercial ties entrenched by reciprocal business visits organized by the Embassy of Colombia, which has been truly committed in activities that enhance the development of an active relationship between both countries.
The recent visit of Colombian Minister of Commerce, Industry and Tourism marked relevant achievements in the economic relations between both countries, concreting the consolidation of important inter-gremial agreements as well as it promoted conversations with the most important ministers of the Indian nation. Likewise, three seminars were organized to discuss topics such as investment, finance and bilateral business, involving more than 300 participants and allowing contacts with more than 180 Indian private business companies interested in the Colombian market.
There is an immense potential in bilateral economic and commercial relations that aim to make Colombia one of the most important financial partners of India in Latin America. Colombia offers a stable economic environment for foreign investors as well as it is a leader in reforms to make business easier, reasons for which the world’s largest companies have been interested in Colombia in recent years as a safe and worthwhile investment destination. The main objective in this field is to concrete the Bilateral Treaty on the Promotion and Reciprocal Protection of Investments, which its negotiations are advanced in progress.