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Government of COLOMBIA
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Presentation
As a Pacific economy, Colombia has actively engaged in international cooperation and integration mechanisms with economies of both, the American and Asian sides of the Asia-Pacific region. In 1986, the Colombian Council for Pacific Cooperation (COLPECC) was created with the intention of directing Colombian efforts for regional integration and cooperation. COLPECC is a government advising council under the authority of the Colombian Ministry of Foreign Affairs, which promotes in the articulation of public policy and coordination among the government, private and academic sectors in their goal of positioning the country in the Asia-Pacific regional architecture. Since 1994, Colombia has been a full member of the Pacific Economic Cooperation Council (PECC) and the Pacific Basin Economic Council (PBEC). That year, Colombia also requested APEC membership. In 2001, the Forum for East Asia and Latin American Cooperation (FEALAC) was established, Colombia being one of its founding members and serving as regional coordinator for Latin America from 2001 to 2004, and from 2011 to 2013. In 2006, Colombia and other countries of the region promoted the creation of the Latin American Pacific Arc Initiative as a regional arrangement for consensus and coordination, as well as an instrument to bring the Latin American Pacific Rim and the Asia-Pacific together. This initiative was officially launched in January 2007, in Cali, Colombia. Within this framework, Colombia, Chile, Mexico and Peru established the Pacific Alliance, formalized through the Framework Agreement signed on June 6th 2012. Since May 2013 Colombia has assumed its Presidency Pro Tempore.
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Just days before the signature of the agreement, the Colombian government appointed its first Ambassador to ASEAN. The objective of the Pacific Alliance is to create a deep integration area aimed to promote higher growth, development and competitiveness among its member economies, through progressively advancing towards the free movement of goods, services, capitals and people. In addition, it establishes an important commitment to cooperation. The deep integration sought through the Pacific Alliance makes the combined market of its Members even more attractive to the rest of the world, being referred to as a potential emerging trade block between Latin America and East Asia. The Alliance members are recognized by their macroeconomic stability policies and the capacity of their economies for market expansion. Colombia, Chile, Mexico and Peru have a total population of over 209 million inhabitants, 36% of the Latin American and Caribbean total, with a nominal Gross Domestic Product (GDP) per capita of US$ 13,791. The Gross Domestic Product of the Pacific Alliance member countries accounts for 35% of the total Latin American and Caribbean GDP. In 2012, the Alliance Members States' average growth rate of 5% was higher than the global average of 3.2%.
Colombia
and APEC
Colombia is the largest economy in the entire Pacific basin (by GDP, trade and population) that does not hold membership in APEC. Since 1995, APEC has invited Colombia to participate in the activities of different working groups and task forces such as Energy, Mining, Information and Communications Technologies, SMEs, Tourism, Investment, Services, Customs Procedures and Electronic Commerce. Additionally, the President of Colombia was invited to participate in the APEC CEO Summit of 2008 held in Lima, Peru. Furthermore, the Colombian Minister of Trade, Industry and Tourism was invited to the APEC CEO Summit and APEC SME Summit of 2010 held in Yokohama, Japan, and high level officials were invited to attend APEC CEO Summits in 2011 and 2012.
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In 2004 and from 2008 onwards, Colombian business leaders have been invited to attend APEC CEO Summits: the collaboration of the National Business Association (ANDI) contributed to the development of a close relationship and partnership between business communities in Colombia and APEC. In 2011 the Government appointed a Special Ambassador for APEC affairs. Colombia wants to be an economy committed to economic openness determined to integrate itself into the global trade architecture, and has the ambition of fully exercising its condition as a Pacific economy. Colombia desires to strengthen its participation in investment flows both inbound and outbound. It considers trade and private entrepreneurship as key engines of growth and development, and It recognizes and values the importance of sharing good practices on public policy and regulation with other nations. Colombia is located in the Pacific Ocean basin, with 1,448 km of coastline in the Pacific Ocean, of which 339,200 km have been internationally recognized as Exclusive Economic Zone. It is an open and trade-oriented economy that shares most of APECs objectives and principles and maintains good political relations and has growing economic ties with its economies. In addition, Colombia has the longest democratic tradition in South America, and has had historically stable macroeconomic indicators. The international community recognizes Colombia for its responsible economic management, with an independent monetary authority and sustainable debt levels.
Colombia:
General Facts
It is a large country. In terms of population, Colombia is twice as populous as Australia and its geographic area is larger than all of Central American countries combined. It is a young country. In Colombia, 54% of the population is younger than 30 years old. Colombia is the worlds second most biodiverse country and is part of the exclusive club of the 12 megadiverse countries of the planet. Colombia is the only country in South America with access to both the Atlantic and the Pacific Oceans.
By 2014, Colombia will consolidate preferential access to more than 1.5 billion consumers, as a result of its international trade agreements. Colombia enjoys a competitive location with easy access to markets around the globe. Colombia is one of the oldest and most stable democracies in Latin America. The country has always been distinguished because of its strong democratic institutions.
1,361
316.8
248.0
141.4 127.3 116.0 97.5 91.5 64.7 50.2 47.1 35.2 30.9 30.0 23.3 23.1
Peru Chinese Taipei Mexico Philippines Colombia Vietnam Japan Malaysia Republic of Korea Australia Russia Thailand Canada
China
With 46.1 million inhabitants (2013, National Department of Statistics Departamento Nacional de Estadsticas, DANE), Colombia has the third largest population in Latin America. Colombia is also the second largest Spanish-speaking country in the world and is also the 27th most populous. Colombia has a dynamic and young population spread throughout multiple development centers: 9 major urban centers with over 500,000 inhabitants.
United States
Indonesia
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Inflation targeting regime and creation of a sound and independent Central Bank. o Adoption of countercyclical provisions and risk management frameworks. o Implementing a world-class fiscal framework, based on: A Fiscal Sustainability Constitutional Reform that introduces fiscal sustainability as a criterion for guiding all public sector institutions. A Fiscal Rule that imposes fiscal discipline to the Central Government with the objective of obtaining primary fiscal surplus in the medium term. A Royalties Reform that redistributes revenues generated by the oil and mining industries amongst all Colombian provinces, providing local governments with important resources for investment in infrastructure and innovation. These amendments have set the standard for the stable situation we have today. In order to tie long-term incomes and expenses together, the government uses the Fiscal Rule, which is probably the best instrument at disposal of a country to guarantee its fiscal sustainability. In addition, this instrument will contribute to avoid or mitigate a Dutch disease scenario. The Fiscal Sustainability Constitutional Reform has included the fiscal sustainability principle in the Constitution. Such legal framework exists only in a few countries. This framework places Colombia at a Medium Term Fiscal Path that: o Provides predictability, sustainability, and supports investor confidence. o Avoids accumulation of imbalances. o Allows steady social expenditure for poverty reduction and attention of the victims of violence.
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o Reinforces effective measures to control drug production and trafficking, investment in infrastructure, and confronting fiscal liabilities like pensions or healthcare. o Cooperation and interaction with the OECD has been and will be a key factor in guiding reforms and policy efforts. o Some of these policies have been extremely innovative and Colombias experience in their implementation will prove useful to other APEC members.
Source: IMF
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GDP per capita (PPP) has doubled in ten years. It now stands at US$ 10,792, moving the country from a medium-low income range to a medium-high range. This has also contributed to important social achievements: in 2011, 1.2 million inhabitants were raised out of poverty, which is reflected in a decrease of 3.1 points in the poverty rate (from 37.2% to 34.1%). Per-Capita National Income * - Current USD and PPP
10,792 in ppp
9000 8000 7000 6000 5000 4000 3000 2000 1000 0
1962 1964 1966 1968 1970 1972 1974 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012
7,855 USD
Colombia ranks as the 12th largest economy adjusted for PPP among the economies of the Pacific Basin.
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Gross Domestic Product: Colombia and APEC economies At PPP, current USD (billion USD 2012)
18000 15000
15,685 12,406
503
0
Chinese Taipei United States Republic of Korea New Zealand Philippines Australia Russia Mexico Canada Peru China Indonesia Hong Kong Colombia Singapur Thailand Malaysia Vietnam Japan Chile
Source: IMF
Colombias economic growth in recent years has allowed the country to reach a high position among Latin American economies in terms of GDP in current USD. Latin America GDP Current US$
10000
1000
100
1980
1982
1984
1986
1988
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
2012
Source: IMF
Mexico
Peru
Venezuela
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Over the last decade, the 1990s average inflation levels of 20% were reduced to single-digit figures due to the inflation targeting plan. A low inflation rate is a proof of macroeconomic stability. It currently stands comfortably within the Central Banks range (2%-4%) at a level close to 3%. Inflation Rate 1972-2016
22.1%
2.4%
1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Ination Rate
Average 77 -00
Fiscal Sustainability
Colombia is quickly reaching fiscal equilibrium as a result of its solid institutional framework mentioned above. The savings rate of the economy has increased by ten percentage points since 2000, reaching a level of 25% of GDP as of 2012. The new institutional fiscal framework has allowed a substantial increase in public savings (4.7% of GDP in 2012 vs. 1.0% of GDP in 2000).
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The investment rate is currently located at 29.2% of GDP, reaching its historical maximum. Colombia exhibited the highest increase of the investment rate in Latin America during the last decade, surpassing Brazil, Chile and Mexico. Tax collection has reached record levels due to dynamic growth and its rigorous administration. In 2012, tax collection reached a level of 15% of GDP. The consolidated public sector deficit has been reduced. In 2011 this deficit reached a level of 2% of GDP, and it is expected to further reduce to 0.7% of GDP in 2014. Debt sustainability will continue to be the foundation of Fiscal Policy. The Net Debt of the Non-Financial Public Sector reached a level of 26.4% of GDP in 2012. At the beginning of the 2000s decade, it was close to 40% of GDP. This suggests a reduction of 15% in just ten years. Balance of the Consolidated Public Sector (% of GDP)
0.1 0.0 -1.1 -2.3 -3.0 -0.7 -0.6 -2.0 -2.7 -3.3
Source: Ministry of Finance and Public Credit (* Forecast)
-0.1
-0.1
-2.8 -2.7
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012*
16
2013*
-4.6
8.8
7.2
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013*
2014*
2015*
2016*
2017*
2018*
2019*
2020*
2021*
2022*
17
2023*
Colombias economic indicators remain positive. In addition to sensible fiscal policy decisions and low and sustained inflation levels, global markets also rely on the countrys economic stability. Colombia holds the second lowest risk perception in the region, determined by the Credit Default Swaps Index, which measures the interest rate paid in USD for a Colombian bond abroad against the interest rate paid for a US bond. In comparison to other countries in the region, such as Brazil, Mexico and Peru, Colombia received a lower risk perception.
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. . . . . . . . .
. . . .
Colombia has one of the most inequitable distributions of wealth in the world and high poverty levels. With the aim of improving this situation, the government has recently created a comprehensive institutional framework. The Administrative Department for Social Prosperity (Departamento Administrativo para la Prosperidad Social, DPS) is an official agency created during the current governmental period with the goal of coordinating Colombias efforts towards assisting vulnerable populations and overcoming poverty. This agency will have a key role in supporting and assisting the victims of the Colombian conflict. One of the appointed entities is the
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National Agency for Overcoming Extreme Poverty (Agencia Nacional para la Superacin de la Pobreza Extrema, ANSPE), which has the purpose of leading the strategy to struggle against extreme poverty. The main goal is to help 350,000 families rise from extreme poverty (1,000,500 Colombian citizens).
Health Programs
Over the past decade, Colombias health coverage has improved from 56.6% to 91.4%. Health Coverage
45.000.000 40.000.000 35.000.000 30.000.000 25.000.000 20.000.000 15.000.000 10.000.000 5.000.000 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
91.4%
42.5 million
56.6%
23.9 million
Education
Coverage education at pre-school, elementary and high school levels has significantly improved while higher education still has an opportunity to grow. The government has the challenge to improve the coverage of higher education and quality at all levels.
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Education coverage
140% 120% 100% 80% 60% 40% 20% 0% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Pre-school Elementary Secondary Education Higher Education
115.3%
119.8% 105.1%
77.2%
72.8%
90.1%
37.1% 13.8%
15.0%
10.4%
Source: DANE
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With the purpose to drive job creation and strengthen employment formalization for the benefit the most vulnerable sectors of the population in the job market, the government enacted Law 1429 of 2010. The objective of this Law is to reduce the obstacles to become part of the formal employment sector through the following actions: o Exemption from non-wage labor-cost charges during the first two years of operation, as well as proportional payments of 25, 50 and 75% during the following three years. o Income tax exemption during the first two years of operation, as well as proportional payments of 25, 50 and 75% during the following years. o Exemption from the Trade Register fee during the first year of operation, as well as proportional payments of 50 and 75% during the following two years.
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The Road to Improve Security Level Conditions and Human Rights of Trade Unionists
Between 2002 and 2010, homicides against trade union members fell by 81% as shown by the Presidential Program for Human Rights statistics. The Colombian government has proactively engaged with trade unions to address this situation. Members of trade unions, producer guilds and national government representatives signed a tripartite agreement in 2006 to strengthen the defense of fundamental rights for workers and their unions, to promote decent work and free enterprise for employers. In May 2011, this agreement was updated and dubbed as the Action Plan on Labor Rights guaranteeing further protection for labor rights, such as the right to collective bargaining and additional resources for improving security of trade unionists.
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Another remarkable achievement was the passing of the Land Restitution and Victims Reparations Law, aimed at providing humanitarian aid, care, assistance, and retributions to especially vulnerable populations, including members of trade unions.
60.274
2010
2011
2012
Source: DANE (National Department of Statistics). Ministry of Commerce, Industry and Tourism calculations
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Since 2003, Foreign Direct Investment in Colombia has grown by 669%, moving from US$ 1,720 million to US$ 15,823 million in 2012. In addition, FDI grew by nearly 100% in the 2010 - 2011 periods. Furthermore, between 2000 and 2011, 53% of the worlds FDI investment flows into Colombia came mainly from the United States, England, Spain, Canada and Chile. FDI, 2000 -2012 US$ MILLION
15.823
8.939
3.683
Variation 20112012: +17.8% Source: Foreign currency balance of the Central Bank of Colombia.
2012
*Share of all countries with positive cumulative investment, without reinvested pro ts or investments in the oil sector. Accumulated value 2000 2012: US $91,557 million
Colombia is also the country in the region with the third highest FDI inflows as percentage of the GDP.
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Colombia has been increasing its investment flows abroad since 2007. In 2011, it reached a record figure of US$8,289 million. The most important destinations for Colombian investment are: the United States, the United Kingdom, Panama, Brazil, and Peru. Energy and financial services are some of the top sectors for investment of Colombian companies abroad.
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8,304
-303
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 pr pr p p p p p p p p
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Compared to APEC member countries, Colombia has had a dynamic performance in terms of quality and competitiveness in the business environment. Colombias scores on several of its International Finance Corporation (IFC) indicators were similar to APEC regional average and were better in indicators like building permits, labor legislation and investor protection.
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Paying taxes
Protecting investors
Getting Credit
Colombia OCDE High Income European Union Latin America & Caribbean
Republic of Korea
The countrys trade integration agenda also includes 31 International Investment Agreements (IIA) (in force, signed and in process of negotiation), and 16 agreements to prevent double taxation (DTA) with 20 countries (in force, signed and in process of negotiation).
Chile China El Salvador Guatemala Honduras India Liechtenstein Mexico Peru Spain Switzerland United States
Israel Kuwait Panama Belgium Turkey Uruguay Qatar Azerbaijan Russia Ecuador
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IN FORCE
Bolivia Canada Chile Ecuador Peru Spain Switzerland
SIGNED
Czech Republic India Mexico Portugal Republic of Korea
IN NEGOTIATION
Belgium France Germany Japan Netherlands United States Czech Republic Curacao
A Promising Market
Colombia is the second most promising market for investment in Latin America over the next three years.
If you were to invest in a Latin American country in the next three years, where would you invest?
Colombia is earlier in its growth cycle and more emerging than many other countries in the region The Colombian government seems probusiness and is taking right steps toward encouraging investment in the country
Source: North American and European Investors Opinion of Latin American Companies. J.P. Morgan. 2011
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The UNCTAD 2012 World Investment Report ranks Colombia as one of the countries in the region with the highest potential and effective attraction for foreign direct investment in line with the investors expectations.
High
Uruguay Panama
Above expectations
Dominican Republic
Belize
Haiti
El Salvador Paraguay
High
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Colombia
and APEC
Economic Policy
Colombia has a sustained record of sound economic policies and very strong economic foundations, as well as institutional and policy frameworks. Fiscal discipline and responsible management of public finances and debt, supported by a strong fiscal institutional framework, including fiscal rules and fiscal sustainability. A strong macro prudential framework that has shielded the economy. Colombia had a positive growth during the most recent world economic crisis, growing 3.5% in 2008 and 1.7% in 2009. Its financial system was profitable in both years, with $6.6 billion pesos in 2008 and $8.5 billion pesos in 2009. In 2012, the economy grew at a healthy rate of 4%, and it is expected to grow around 4.1% during 2013.
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The Colombian authorities have responded appropriately to the global financial crisis and have demonstrated their commitment to maintain this solid record.
Main APEC economies to which Colombia exported during 2012: United States: nearly USD$ 21,980 million (67% of total exports to APEC economies) China: over USD 3,343 million (10% of total exports to APEC economies) Chile: over USD 2,189 million (7% of total exports to APEC economies) Exports from Colombia to APEC economies 2012 USD million FOB (Percentage of the total exports to APEC)
OTHERS 2% REPUBLIC OF KOREA 1% JAPAN 1% HONG KONG 1% SINGAPORE 1% CANADA 1% MEXICO 3% UNITED STATES 67%
PERU 5%
CHILE 7%
CHINA 10%
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JAPAN 4%
CHINA 25%
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38,234 32,574
2010
-2,132
2011
2012
-5,289
-5,660
38
Colombian Exports to APEC vs. Imports from APEC economies 2012 (USD million FOB)
UNITED STATES CANADA MALAYSIA 3.000 THAILAND CHINA SINGAPORE INDONESIA NEW ZEALAND CHILE HONG KONG RUSSIA THE PHILIPPINES PERU JAPAN CHINESE TAIPEI VIET NAM MEXICO REPUBLIC OF KOREA AUSTRALIA
2.500
2.000
1.500
1.000
Source: TRADEMAP/OEEDRCMinCITv
500
10 -500
100
1.000
5.000
50.000
USD Millons
This bubble chart shows the position of Colombian exports to APEC economies, where the size of the circle is proportional to the Colombia's participation in total imports of each APEC economy. The vertical axis shows the total imports from APEC economies, while the horizontal axis shows the exports from Colombia to APEC economies.
FDI reached an outstanding record during 2012 when inflows from APEC economies registered USD 3,959 million, an increase of more than a 170% regarding the previous year. Foreign Direct Investment from APEC in Colombia 2002 2012, (USD million) Total FDI: USD 15,791
3,959.0
1,588.8 913.8
2004 2005 2006
1,522.0
2007
2008
2009
2010
2011
Foreign Direct Investment from Colombia to APEC economies 2002 2012, (USD millions) Total FDI: USD 12,071
4,435
2012
1,229 59
2004 2005
1,062
902
280
2006
330
2007 2008 2009 2010 2011 2012
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According to the Central Bank Balance of Payments, during the period 2002-2012 FDI outflows from Colombia to APEC economies registered a 4.5% CAGR (Compound Annual Growth Rate), reaching USD 12,071 million. FDI in 2011 stands out, when outflows from Colombia to APEC economies registered an amount of more than USD 4,435 million, an increase of more than a 300% regarding the previous year and a CAGR (Compound Annual Growth Rate) over 23%. Greenfield Projects from APEC Economies in Colombia by Sector 2003-April 2013 Number of Projects: 394
Others 31%
Automotive OEM 5%
Communications 9%
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According to FDI Markets, between 2003 and April 2013, Greenfield investment from APEC economies to Colombia has concentrated on the following sectors: Software & IT Services (11.7%), Financial Services (10.9%) and Consumer Products (9.1%), among others. Greenfield Projects from Colombia to APEC Economies by Sector 2003- April 2013 Number of Projects: 61
Financial Services 5% Business Services 5% Hotels & Tourism 7% Textiles 8% Plastics 10% Transportation 12%
Others 8%
According to FDI Markets, between 2003 and April 2013, Greenfield investment from Colombia to APEC economies has concentrated on the following sectors: Food & Tobacco (16.4%), Software & IT Services (16.4%) and Coal, Oil and Natural Gas (13.1%), among others.
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Singapore
February 2010
Hiroshima Japan
Participation
Colombia explained its investment promotio n September 2010 Sendai Japan Inves tment Experts Group (IEG) strategy towards the Asia-Pacific Region, including treaty negotia tions and Proexports new offices. Colombia presented its general investment policy and made an evaluatio n of APECs NonFebruary 2011 Washing ton USA Inves tment Experts Group (IEG) Bind ing Investment Principles in relation to the Colombia n internatio nal commitments in order to understand the possibility of accepting such Principles. Inves tment Experts Group (IEG) Colombia made an update of its current investment work, and its participatio n in other interna tional fora. Colombia explained its process to adhere to the OECDs Declaratio n on International Inves tment and Multinatio nal Enterprises.
May 2011
September 2011
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Date
Place
Meeting
February 2012
Moscow Russia
Colombian Outward Foreign Direct Inves tment, as a result of a stronger insertion by national co mpanies in the global market. Colombia explained its national policy for the prevention and ma nagement of internatio nal investment disputes derived from
March 2012
Singapore
Internatio nal Investment Agreements. The presentation included the policy paper CONPES 3684 2010 and the explanation of the National System for the facilitatio n of Inves tment (SIFAI). Colombia explained, in detail, the prevention
Participation
May 2012 Kazan, Russia Inves tment Experts Group (IEG)
strategy for internatio nal investment disputes. The presentation included the description of the methodology used in the workshops taught by the Directorate of Foreign Inves tment and Services, adjunct office of the Ministry of Trade, Industry and Tourism, which was provided to public servants of the national and municipal levels. Colombia presented the current investment policy towards sustainable investment. The presentatio n embodied the milesto nes from 2005 to the da te of the presentatio ns and supported a consistent position towards March 2013 Surabaya, Indonesia Inves tment Experts Group (IEG) sustainability. papers, This included Social local policy Corporate Responsibility
Agreements within International Investment Agreements, Colombias Initiatives in regional integratio n processes (Andean Community and Pacific to Allia nce), the and Colombias for adherence OECD Guidelines
Multinational Enterprises.
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Participation
June 2013
Medan, Indonesia
latest developments emphasizing as a key issue of the policy the suggestio n to the competent a uthorities to cons truct a model text of an agreement o n Temporary Entr y for Business Persons drafted in a way that could be negotiated and entered in to force by itself, that is, independently from a Free Trade Agreement.
In Kazan, Russia, Colombia participated in the workshop of public private dialogue, in which Colombia presented a complete explanation of Law 1508 of 2012 about Public and Private Alliances, which was in force at that time. Colombia supported the Disputes Prevention Strategies project, which was funded by the United States. This was finally published within an APEC official handbook, being a chapter titled Colombian Case Study. Colombia reached its objective of exchanging critical issues on investment. Through its participation in the Investment Experts Group, Colombia demonstrated how its investment framework meets various elements identified as good practices within IEG, specifically in relation to the prevention and management of international investment disputes.
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Participation
May 2012
Kazan, Russia
the date of its presentatio n by the na tional Statistics Committee, regarding trade in services in Colombia. Colombia was asked to present the bilateral trade balance with APEC economies. Colombia did not ha ve updated data available. The Colombian gover nment presented a contrast
March 2013
Surabaya, Indonesia
between the services trade share in the nationals GDP of the APEC economies and that of Colombia. Also, it presented the composition of the service sector within the Colombian eco nomy a nd the APEC econo mies as a whole. Colombia presented how the country is
dealing with measuring s tatistics on services, specifically the way its performing the Manual June 2013 Medan, Indonesia Group on Services (GOS) on Statis tics of Interna tional Trade in Services (MSITS 2002) a nd how is intending to shift to
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February 2012
Moscow Russia
exports. This policy includes improving statistics, private fina ncial support, and better public-priva te coordination. Colombia showed the share of trade in services in the national economy, as well as the method followed to develop statis tics on local trade services and international trade Contribution services. Colombia new policy aimed at Colombia explained presentedits the data developed as of strengthening the services sector towards the date of its presentatio n by the na tional exports. This policy includes improving Statistics Committee, regarding trade in statistics, private fina ncial support, and better services in Colombia. public-priva te coordination. Colombia was asked to present the bilateral Colombia showed share of trade Colombia in trade balance with the APEC economies.
Participation
services in the national economy, as well as did not ha ve updated data available. The the method followed to develop statis tics on Colombian gover nment presented a contrast local trade services and international trade between the services trade share in the services. nationals GDP of the APEC economies and that of Colombia. Also, it presented the Colombia presented the data developed as of composition of the service sector within the the date of its presentatio n by the na tional Colombian eco nomy a nd the APEC econo mies Statistics Committee, regarding trade in as a whole. services in Colombia. Colombia presented how the country is Colombia was asked to present the bilateral dealing with measuring s tatistics on services, trade balance with APEC economies. Colombia specifically the way its performing the Manual did not ha ve updated data available. The on Statis tics of Interna tional Trade in Services Colombian gover nment presented a contrast (MSITS 2002) a nd how is intending to shift to between the services trade share in the the latest version of the MSITS, 2010. nationals GDP of the APEC economies and that of Colombia. Also, it presented the composition of the service sector within the Colombian eco nomy a nd the APEC econo mies
May 2012
Kazan, Russia
In the Group on Services, Colombia has as made significant progress, in a whole. particular in the workshops developed within the framework of the Senior Colombia presented how the country is Official Meetings. Also, it should be said that the toolkit or the web page dealing with measuring s tatistics on services, Services Trade Forum facilitated the Colombian Governments research of specifically the way its performing the Manual foreign regulations in services, which hasoncontributed key to the Medan, Statis tics of Interna tionaldata Trade in Services June 2013 Group on Services (GOS) Indonesia ongoing design of the national policy. (MSITS 2002) a nd how is intending to shift to Colombia remarks the workshop Measuring Services Trade Statistical capacity Building and Networking, held in Medan, Indonesia, on June 25th and 26th 2013, in which Colombia obtained valuable information on how to deal with statistics in services and got access to contact details of the officials of APEC economies working on statistics.
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the latest version of the MSITS, 2010.
Participation
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May 2012 Kazan, Russia
by level of risk, for approvals prior to import and export, reducing the time of
Participation
January 2013 Jakarta, Indonesia
questionnaire related to Chokepoint No 4 First Meeting of the SubCommittee on Customs and Procedures 2013 of the SCCP 2013 Work Program: Inefficient clearance; Lack of coordinatio n. Colombia showed its interest in participating in AEO events scheduled for 2013. Colombia reported progresses in the implementa tion of the AEO Program and shared some activities of the action pla n of Regional Strategy, approved in the last May 14 2013
th
directors meeting of the WCO. Santiago de Chile, Chile Second Workshop on Regional Capacity Building Program AEO The United States and Canada were invited to visit Colo mbia this year to review the authorization processes and provide operational support in the validation visits and work on an actio n plan for the implementa tion of a Mutual Recognitio n Agreement in the future.
and 15 ,
th
June 2013
Medan, Indonesia
Colombia presented the progress in the implementa tion of the Risk Management
Participation
Second Meeting of the June 2013 Medan, Indonesia Sub-Committee on Customs and Procedures 2013
Colombia has played a very active role through its guest status, participating in the development of the SCCP work program, sharing the situation in Colombia in diverse issues and learning from valuable experiences of the Pacific Rim economies. The perspectives for the future are, among others: To learn the best international practices to enhance continuous efficiency improvements for government entities and business competitiveness. To deepen trade facilitation policies, aiming to reduce time and costs and optimize processes in the logistic chain of foreign trade. To enhance cooperation with the APEC economies in the SCCP prioritized topics. To strengthen the partnership between the public and business sector in addressing the issues related to trade facilitation.
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Participation
The evolution of tourism in Colombia is equal or, in some cases, better than in other APEC members. It is expected that decisions adopted by APEC, will be considered in Colombias tourist policies, especially for tourist facilitation (visas).
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Participation
2012
Colombia has focused on emphasizing the advances made on its economic development process. The progress has been achieved by strengthening the entrepreneurship ecosystem and fostering more and better companies. This has come through 3 strategies: 1) A differential approach design, 2) Collective actions, and 3) Platforms for conversation.
Participation
January 2013
Colombia has focused on emphasizing the progress made in the field of data protection, and is already working with some APEC member economies on exploring interoperability mechanisms for the transfer of personal data and on enforceability of the legal instruments concerning data protection.
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May 14 2013
th
and 15 ,
th
implementa tion of the AEO Program and shared some activities of the action pla n of Regional Strategy, approved in the last directors meeting of the WCO.
L ib ertad
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L ib ertad
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