(Last updated: 10 Apr 2012)

Current business situation

The Department of Foreign Affairs and Trade (DFAT) provides advice for business travellers and tourists going to Colombia. This is regularly updated, and should be checked before planning travel.

Country facts

(Source: Department of Foreign Affairs and Trade - Country economic fact sheet)

Economic climate

Despite the financial crisis having an impact, the Colombian economy is expected to recover more quickly than others. The current government has reduced public debt levels, improved security and adopted an export-oriented growth strategy.

For the latest key economic indicators and statistics, please see the Department of Foreign Affairs and Trade country economic fact sheet.

Political climate

Relations within the region and particularly with the USA are likely to remain Colombia’s foreign policy priorities. The strong relationship with the USA has delivered significant political and economic benefits, but an FTA negotiated with the US has not yet been approved by the US Congress.

Trade relations and statistics

Australia’s trading connections with Colombia are sound. Australia enjoys good commercial relations in the mining, energy and education sectors, and there is long-term potential for investment in agriculture, mining and telecommunications.

Colombia has actively pursued a policy of regional integration, signing several multilateral and bilateral free trade agreements, including the Andean Community (ANCOM), the G-3 (Colombia, Mexico, and Venezuela), the Colombia-Chile bilateral agreements, and most recently the FTA with the USA. Colombia is also seeking to increase its role in the Asia-Pacific region, and is a full member of the Pacific Basin Economic Council (PBEC) and a member of two APEC working groups.

Please see the Department of Foreign Affairs and Trade country economic fact sheet for key trade statistics.