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Last updated: 09 Nov, 2017  

Colombia.Thmb.jpg India, Colombia discuss expanding bilateral trade, ties

Sushma Swaraj
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SME Times News Bureau | 09 Nov, 2017
As part of New Delhi reaching out to Latin America, India and Colombia on Wednesday discussed ways to strengthen bilateral ties during a meeting between External Affairs Minister Sushma Swaraj and her Colombian counterpart Maria Angela Holguin.

According to a statement issued by the External Affairs Ministry, Sushma Swaraj and Holguin "held discussions on a wide-range of issues of shared common interest to further expand and strengthen bilateral relations".

"India has extended assistance to Colombia in capacity building under its ITEC (Indian Technical and Economic Cooperation) programme and expressed readiness to extend cooperation in the post peace process reconstruction and rehabilitation," the statement said.

The Colombian government and the Left wing Revolutionary Armed Forces of Colombia (FARC) guerilla group last year signed a peace deal ending decades of conflict.

The statement said that with both countries enjoying "close and cordial bilateral relations", economic cooperation is also deepening.

Holguin, accompanied by Colombian Minister of Commerce, Industry and Tourism Maria Lorena Gutierrez and other delegates, arrived here on Monday on a four-day visit to India.

The visiting delegation also met with Minister of Commerce and Industry Suresh Prabhu and undertook a comprehensive review of trade and investment issues discussed during the meetings of Joint Committee on Business Development Cooperation and Joint Working Group on Trade and Investment held in Colombia's capital Bogota in May this year.

India-Colombia commercial and economic relations have burgeoned in recent years and the last two years have also seen the export and import baskets getting more varied.

Indian imports include mineral fuel, minerals, oils, natural or cultivated pearls, wood and steel, and articles of wood and cocoa and exports include motorcycles in CKD form, vehicles other than railways, cotton yarn and woven fabrics of cotton, organic chemicals and iron and steel.

Bilateral trade between India and Colombia amounted to $941.86 million in the period January-September 2016.
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