15 March 2009
Growing links with Colombia
The Trade Minister Simon Crean will hold talks this week with the Colombian Minister of Trade, Industry and Tourism, Mr Luis Guillermo Plata, to further strengthen ties between Australia and Colombia.
There are growing trade and investment links with Colombia and the two ministers will hold discussions on Monday, 16 March, at Parliament House in Canberra
“I look forward to discussing with Mr Plata a range of trade issues, including how we can build bilateral trading links and coordinate our efforts to reduce the barriers to trade,” he said.
Mr Crean said Colombia had been pursuing an energetic domestic reform agenda which had resulted in a significant improvement in economic conditions in the country and had helped Colombia achieve good growth figures over recent years. According to the International Monetary Fund, GDP growth in Colombia was 4 per cent in 2008 and the Colombian economy should continue to expand in 2009, despite the worldwide downturn.
“The prudent fiscal policies and structural reforms being undertaken by President Uribe’s government have resulted in a strengthening of public finances, a steady decline in unemployment, increasing household consumption, and growing business confidence.
“These improved economic conditions — along with major resource reserves, expanding foreign investment and a domestic market of over 47 million – are helping to position Colombia as an increasingly important Latin American economy.”
“Underpinning this has been the priority of the Colombian Government, under the leadership of President Uribe, to security through its strengthened campaigns against anti-democratic terrorist organisations,” Mr Crean said.
With greater security and economic certainty in Colombia, Australian businesses are already taking up opportunities in sectors such as oil and gas, mining and resources, agricultural processing, and services - particularly education.
The Colombian government is encouraging investment to further develop the country’s mineral and resource processing facilities, infrastructure, agriculture, and training.
Australia already has major investments in Colombia’s resources sector, which in turn is helping to create opportunities for smaller Australian firms supplying minerals processing technology and services.
Colombia is also keen to access Australian expertise in a wide range of agricultural production and processing activities, including livestock management, agricultural training and services.
“Colombia’s growing population, and the need to rapidly improve its skills-base, is opening up opportunities for Australian universities and vocational training institutions,” Mr Crean said.
Colombia is the second largest source of students from Latin America after Brazil, with over 7,500 Colombian students enrolled in Australian institutions in 2008, an increase of 42 per cent from 2007.
Mr Crean said that Australia and Colombia would continue to work together to achieve further liberalisation of the global trading environment, including through the Doha round.
Colombia is a strong partner, through its membership of the Cairns Group, in pushing for agricultural trade reform and the removal of damaging export subsidies.
Media Inquiries
- Mr Crean’s Office 02 6277 7420
- Departmental Media Liaison 02 6261 1555