(Last updated: 11 Feb 2013)
Market profile
Doing business
Initial correspondence with potential business partners should be in Spanish, as letters in English are more likely to be given lower priority.
More information on doing business in Colombia
- ECONOMIC CLIMATE
Despite the financial crisis having an impact, the Colombian economy according to IMF forecasts is expecting strong growth.
» read more at DFAT
- POLITICAL CLIMATE
Colombia has a democratically-elected representative government with a strong executive.
» read more at DFAT
- TRADE RELATIONS
Australia and Colombia enjoy expanding relations, based on trade and investment and cooperation on a range of international issues.
» read more at DFAT
Top Business Risks
OECD Guidelines for Multinational Enterprises
Multinational Enterprises should be aware of the OECD Guidelines for Multinational Enterprises that provide voluntary principles and standards for responsible business behaviour in a variety of areas, consistent with applicable domestic laws. These Guidelines are endorsed and promoted by the Australian Government. For more information, go to the AusNCP website.
Extractive Industries Transparency Initiative
The Extractive Industries Transparency Initiative (EITI) is a voluntary mechanism which promotes and supports improved governance in resource-rich countries through the full publication and verification of company payments and government revenues from oil, gas, and mining.
The EITI is supported by governments, industry, and non-government organisations around the world. The Australian Government supports the EITI and encourages Australian companies operating internationally to comply with its recommendations.