Colombia

website of the Embassy of India http://www.embajadaindia.org/

• Basic Information
• Overview of the Market
• India - Colombia Business
• Trade and Industry Contacts

 

Basic Information

• Map: http://worldatlas.com/webimage/countrys/samerica/co.htm

• Capital : Bogotá
• International Airports: Bogota Medellin , Cucuta , Cartagena
• Seaports: Barranquilla, Cartagena (largest), SantaMarta Buenaventura
• Free Trade Zones : Medellin , Cali , Barranquilla , Bucaramanga , Cartagena , Manizales , Santa Marta .
• Language : Spanish
• Electric Current: 220 Voltage
• Main Cities : Medellin , Cali , Barranquilla , Bucaramanga , Cartagena , Manizales , Santa Marta .
• Indian Restaurants in Bogota: Calcutta - calle75 no 8-12, Surya - carrera 4 no 27-03, Tandoor - carrera 11 no 84-53
• Taxis: Please avoid taking from the street. Better to call a teletaxi, for security reasons
• Major Banks : Banco de la Republica,Bancafe, Banco Paciffico, Banco Colpatria, Banco Industrial, Banco de Bogota, Banco Nacional, Bancoldex, Banco Santander, Banco Tequendama, Banco de Credito

 

Overview of the Market

 

• Colombia has had political and economic stability in the last 70 years, unlike many other countries which had witnessed ditatorship and boom and bust. This stability is even more remarkable that it has gone on despite the guerilla war, narco traffick and violence.

• Manufacturing sector of Colombia is the most developed and diverse among the andean community countries.

• one of the highest literacy rates in Latin America with 92 %

• Has the largest population in the Andean Community and the third largest in Latin America

• gateway to the markets of Andean Community, G-3 ( Colombia, Mexico and Venezuela) and USA with whom it has a FTA.

• largest exporter of coffee.

• one of the largest exporters of coal in the world. It has 7 billion tons of coal reserves.

• world's second biggest exporter of fresh cut flowers after Netherlands.

• other agro exports : flowers, bananas, cacao, palm oil and fruits and vegetables.

• Colombian Emeralds are famous. Colombia is a leading producer of emeralds accounting for 60 % of world production.

• other mineral resources are : Nickel, gold, coal

• Colombia produces over 800,000 barrels per day of oil. Export of oil has overtaken the revenue from coffee exports. Ecopetrol is the state company for exploration and production of oil. Foreign companies are being invited to participate in oil exploration and production independently or in collab with Ecopetrol. The production and exports of oil is expected to increase in the coming years.

• Colombia has emerged as one of America’s top players in ethanol
  production, being the second largest producer in South America, after Brazil. The
  Colombian Government has issued a decree that states that in 2012 at least 20 % of
  motor vehicles in Colombia must have an engine that are capable of work with a
  fuels mix that contains 85% of bio fuels:

 

India - Colombia Business

Bilateral Trade (US $ million)

 

	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011
Exports from India	65	73	88	131	181	248	346	530	530	504	686	976
Imports by India	3	3	3	-	7	5	63	90	20	449	365	616

 

• Principal items of India ’s exports: auto parts, vehicles, organic chemicals, cotton yarn and fibre , pharmaceuticals, iron and steel, machinery and equipments and plastics. 

   

• Principal items of India ’s imports crude oil,coal, teak wood and iron and steel products

 

Reliance Industries has signed an agreement
with State oil company, Ecopetrol, to be the operator for two oil blocks in the offshore
Pacific area with a joint surface of 8000 square kilometres at the depth of 60-
1000 metres. Reliance will hold 80% stake and Ecopetrol 20%.

• Bajaj, Hero Honda, TVS and Royal Enfield have a strong presence in the two wheler market.
• Hyundai exports cars from India which are used as taxis in Colombia
• TCS, Arvind Mills, Pratibha Syntex, Ranbaxy, Torrent, Claris Pharma, Praj Industries are among the Indian companies having business in Colombia .
• Praj has done over 30 million $ contract for consultancy services for turnkey design and supply of six ethanol plants in Colombia.

• Bajaj has a two-wheeler assembly plant in Medellin. TVS has opened an Assembly plant in Cali to make motorcycles.

• Battery operated electric Indian car imported in Colombia: In September 2008,
  the first battery operated electric Indian car, REVA, arrived in Colombia. The
  Colombian Minister of Environment, Mr. Juan Lozano, welcomed the arrival of
  the car in Colombia noting that its use would significantly reduce pollution levels
  and help save increasingly costly non-renewable energy such as gasoline. The
  Government of Colombia eliminated customs duty for import of one hundred cars
  to promote its use in this country.

• OVL has bought a oil field for 420 million dollars in a joint venture with a Chinese oil company SINOPEC. The current production is about 20000 bpd. It is planned to increase this to 60,000 bpd.

• TCS has got a 4 million$ contract from the government for the tax management system.

• Infosys has got a contract from Bancolombia, the largest bank for a core banking solution project.

• Indian pharma company IPCA has opened a subsidiary company in colombia

 

United Phosphorus company of India acquires a Colombian agrochemical company

United Phosphorus Ltd (UPL) has purchased ( february 2008) 100% stake through its subsidiary of Evofarms group of Companies (Evofarms), a major Marketing Company of generic products in the crop protection industry headquartered in Bogota, Colombia. The share purchase includes all stocks, products registrations and all other property rights associated with the business of Evofarms.

Evofarms has several product registrations in Colombia and has a distribution network covering over 100 customers.

United Phosphorus Ltd (UPL) is the largest Indian agrochemical player and among the top three generic players globally in this industry. It is engaged in research, manufacture and distribution of agrochemicals and specialty chemicals worldwide. They have already acquired four companies in Argentina.

United Phosporous Ltd( UPL) has acquired in June 2010 the global non-mixture mancozeb fungicide business and related assets from DuPont, including existing inventory, manufacturing and formulation production facilities in Barranquilla, Colombia.

FANALCA, a Colombian company in the auto and mass transit sector, started a second line of business in the field of home care services, particularly in collection and processing of solid waste. They have got a contract  for garbage collection in one third of the city of Chennai employing 2600 Indian workers.

 

Colombia posts investment promotion officer at their embassy in delhi

Colombia is the first Latin American country to open an office to attract Indian investment into their country.

Alejandro Peláez, who was Foreign Investment Advisor at PROEXPORT COLOMBIA has joined the Colombian Embassy from December 2008

 

 

Trade and Industry Contacts

Exports and investment promotion www.proexport.com

Trade www.coltrade.org

Federation of Chamber of Commerce www.confedecamaras.com