This measure, now advancing to the Second Commission of the House of Representatives and subsequently to the Constitutional Court, aims to boost the complementary industry of goods and services, promote sustainable development, and diversify production, always respecting labor and environmental standards.
In a parallel scenario, during the Second Economic Commission between Colombia and Switzerland, the Minister of Commerce, Industry, and Tourism, Germán Umaña, proposed the creation of a plurilateral agreement. This agreement would explore new sources of funding to promote sustainable development projects. The initiative was well-received by the Swiss delegation, which would consider the participation of banks and investment funds. This agreement would bring a package of strategic sustainable development initiatives, to which initiatives from Venezuela would also be added.
"We want, at this moment when we are advancing in the reestablishment of relations with Venezuela and when we seek to strengthen the productive structure of our neighbor, that it can also benefit," highlighted Minister Umaña during the session in Bogotá, which included the participation of the Swiss ambassador in Colombia, Eric Mayoraz.
In addition to this proposal, Umaña suggested the modernization of the Bilateral Investment Promotion and Protection Agreement (APPRI) between Colombia and Switzerland, in effect since 2009. These initiatives reflect Colombia's commitment not only to the consolidation of bilateral relations but also to the search for new opportunities for international cooperation.
Regarding trade with Venezuela, since the reopening of the border in September 2022, Colombian exports have experienced a significant increase. Between September 2022 and July 2023, exports totaled US$591.2 million, representing an increase compared to the same period the previous year. The diversification of exported products and the increase in the number of exporting companies indicate a positive outlook for economic integration between the two countries.
The announcement of five new air routes between Colombia and Venezuela, following the meeting between Presidents Gustavo Petro and Nicolás Maduro, reflects a joint commitment to facilitate the flow of passengers and cargo, boosting tourism and integration. With these developments, Colombia advances not only in its relations with Venezuela but also in international cooperation initiatives to promote sustainable development in the region.
BIBLIOGRAPHY
Quiroga Rubio, L. (2023, October 3). Mincomercio propone revisar acuerdo de inversiones entre Colombia y Suiza. El Tiempo. Retrieved from Mincomercio propone revisar acuerdo de inversiones
Suárez, María C. (2023, October 16). Acuerdo de protección de inversión entre Colombia y Venezuela: el camino que le queda. Bloomberg Línea. Retrieved from: Acuerdo de inversión entre Colombia y Venezuela
Posted on: December 18th, 2023
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