India-Colombia Bilateral Relations - Eepcindee.com

India–Colombia Bilateral RelationsColombia and India established diplomatic relations onJanuary 19, 1959. In March 1972 Colombia opened itsembassy in New Delhi, India. The following year Indiaestablished its embassy in Bogotá.In the last years the relationship between the two countrieshas increased extraordinarily in political, commercial andcultural fields.Political and Institutional RelationsColombia and India have an excellent political relationship.Evidence of this are the high level visits from Colombia toIndia and vice versa.Former Colombian President Andress Pastrana visited Indiain 2001, while Colombian Vice–President (2010) andMinisters of Foreign Affairs (2003 to 2009), Defense (2007),Mines and Energy (2008), Commerce, Industry and Tourism(2008 and 2009) visited India. From the Indian side, Ministersof Tourism and Culture (2007) , State (External Affairs ) (2007and 2010) and Urban Development (2007) visited Colombia.The two countries have signed Cultural, InvestmentProtection and Promotion, and Science and TechnologyAgreements. Furthermore, Memorandums of Understandinghave been signed in the fields of IT, Urban Development,Hydrocarbons, Defense, Bamboo and Health.Economic RelationsTrade between Colombia and India has been reflecting anextraordinary upward trend during the last years. Goodsexports in 2009 reached the sum of US$ 449 million, ascompared to US$ 15.6 million in 2008.Until 2008 the main exported product to India wasferronickel, which accounted for more than 80% of the totalin 2007. From 2009 the commercial dynamic has beenopening to other commodities like petroleum oils, crude,and coke coal, as well as the manufacturing sector whoseexports show positive variations.2009’s traditional exports including oil, coal, and ferronickelgrew by 6282% contributing to over 90% of total exportsto India. The numbers in 2009 reached US$ 436.3 million93

compared to US$ 6.8 million in 2008.Non-traditional exports, grew 45% to the sum of US$ 3million for 2009. The largest contribution was made by themanufacturing sector whose exports from 2008 to 2009showed positive variations of 84%, reaching US$ 11.3 million.EXPORT TO INDIA IMPORT FROM INDIAPetroleum oils and crude 351 Other commodities 129Coke& semi-coke of Coal 85 Cars 55Polyvinyl chloride 6 Cotton yarn 45Tropical woods 2 Chemical industry products 40Refined sugars 1 Medicaments 29Waste and scrap, copper 1 Heterocyclic compoundswith nitrogen 13Others 4 Others 192Total 449 Total 504Cultural RelationsCOLOMBIA TRADE 2009Source : ITC 2010USD Millioin sThe Cultural Agreement between India and Colombia of1974, is aimed to contribute towards a better knowledgeof their respective cultures.Under this framework, six cooperation agreements betweenuniversities and higher education institutes from bothcountries have been signed, and the ICETEX and the IndianGovernment, under the ITEC scheme , offer scholarships fornationals of both countries.In 2008 and 2009 the Embassy of Colombia in India carriedout the First and Second Colombian Cultural Weeks, inwhich concerts, cinema festivals and literary gatheringstook place. The attendance was massive in Chennai, Delhi,Kolkata, Mumbai and Bhubaneswar, cities where theactivities took place.Bilateral AgreementsvBilateral Investment Promotion and ProtectionAgreement (2009)v MoU on Business Development Cooperation (2010)vDouble Taxation Avoidance Agreement.In the last three years more than two hundred entrepreneursfrom Colombia have visited India. There are Colombianinvestments in India in the sectors of utilities and beverages.Some Indian companiesin ColombiaSource - Embassy of Colombia, New Delhi, India94