An attempt to build a stronger British investment presence in Mexico and Colombia will get under way on Monday when more than 40 business leaders accompany Nick Clegg on a trade visit to the two countries.
Wall Street Journal
Colombia, along with fellow Pacific Alliance members Chile, Mexico and Peru, are embracing free trade and working to diversify exports. Colombian Finance Minister Mauricio Cárdenas spoke to The Wall Street Journal about his country's strong growth prospects despite the tapering of the U.S. Federal Reserve's bond-buying program and a slowdown in China.
Foreign direct investment in Colombia's mining sector grew 21 percent in the first nine months of 2013 from the same period of 2012, President Juan Manuel Santos said.
Colombia will for the first time auction areas potentially containing non-conventional or shale crude in its 2014 oil round in July that it is launching on Wednesday as it seeks to sustain a wave of foreign investment into the sector. Latin America's No. 4 oil producer aims to raise around $2.6 billion by selling more than 22 million hectares for exploration and production at the July 23 auction, the National Hydrocarbons Agency (ANH), which is overseeing the auction, has said.
US-based networking company Cisco (Nasdaq: CSCO) sees strong growth opportunities in Colombia, and is aiming to double its revenues in the country within the next three years, the company's newly appointed general manager for Colombia, Christian Onetto, told BNamericas.
Israel has been accepted as an observer state to the Pacific Alliance, a trade bloc grouping four of Latin America's fastest-growing economies, officials said Tuesday.
By 2007 the world did not know the moderate acidity of Colombian gulupa, a native Brazilian fruit that belongs to the same family as the passion fruit. Currently, almost 3,000 tons of this fruit are being exported to Europe, Asia and America. Six years ago exports only amounted to 523 tons. Exports of Gulupa increased by five throughout the last six years from $3,954 million in 2007 to $20,455 million between January and September 2013.
…Well, now that Argentina has officially devalued its currency, the Colombians are at it again. “I think we have settled the question, even if the difference is small,” Mauricio Cardenas, Colombia’s finance minister, told beyondbrics in a recent interview. Using the latest GDP estimates for each country (from the third quarter of 2013), he reckons Colombian GDP stands at $344bn versus Argentine at $338bn. Goal to Colombia!
The presidents of four nations collectively responsible for half of Latin America's economic output have signed an accord to eliminate tariffs on 92 percent of the products they trade.
Wall Street Journal
Latin America's most open economies signed a free-trade pact on Monday in an effort to firm their ties and raise commerce with Asia, a move that also creates a counterbalance to their colossal neighbor Brazil. The so-called Pacific Alliance between Mexico, Colombia, Peru and Chile aims to make 92% of the four countries' goods tariff-free, while phasing in the remaining 8% over the coming years. The accord creates a market of some 210 million people, bigger than Brazil's, with a combined economic output equal to 35% of the total GDP of Latin America and the Caribbean.
Heads of state from South America's Pacific Alliance, comprised of Chile, Colombia, Mexico, and Peru, signed a deal on Monday that will scrap nine-tenths of tariffs on goods and services traded between them.
Latin American Herald Tribune
The European Union reached an accord to eliminate the visa requirement for brief stays by Colombians and Peruvians, the EU delegation in Bogota said Tuesday.
Coffee production in Colombia, the second-biggest grower of the arabica variety favored by Starbucks Corp., climbed 15 percent in January from a year earlier to the highest level since 2007.
Representatives from Utah’s finance, manufacturing, telecommunications and other industries will head to Colombia and Panama on Feb. 10 to kick off a four-day trade mission.
Wall Street Journal
Colombia's finance minister said some $12 billion in investment on infrastructure projects this year will boost this Andean country's gross domestic product even as the U.S. signals an end to easy-money policy and some analysts predict a drop in commodity prices.