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Colombia Weighs Belt And Road Entry To Modernize Infrastructure
(MENAFN- The Rio Times) Andi disclosed on May 6 that the government will summon Foreign Relations Commission to review joining China's Belt and Road Initiative. Bruce Mac Master raised questions over the initiative's goals, strategy and its commercial impact in Colombia.
Negotiations began in 2024 when China offered to reach consensus and advance Colombia's adhesion. Foreign Minister Murillo formed a joint working group with China to negotiate Colombia's adhesion within a reasonable timeframe.
DANE reported that China accounted for 27.4 percent of Colombia's imports in the latest two months. The United States remained second at 24.5 percent. That partnership left a bilateral deficit of US $2.431 billion in that period.
Colombia mainly imports vehicles from China and gasoline plus light oils from the United States. January trade deficit reached US $1.279 billion after a 17.9 percent annual rise. Trade experts cite persistent imbalances as China now ranks as Colombia's top import source.
US chargé d'affaires John McNamara warned that ties with non-democratic China could strain relations with Washington. He urged officials to consider the United States' key role as a top investor and trading partner.
China unveiled the Belt and Road Initiative in 2013 to link markets across continents through infrastructure projects. Colombia and China elevated their ties to a strategic partnership after President Petro's visit to Beijing in October 2023.
Accession would unlock Chinese financing for transport, energy, telecommunications and port upgrades across Colombia. Colombia faces the challenge of securing capital for modernization while safeguarding fiscal sovereignty and allies.
Negotiations began in 2024 when China offered to reach consensus and advance Colombia's adhesion. Foreign Minister Murillo formed a joint working group with China to negotiate Colombia's adhesion within a reasonable timeframe.
DANE reported that China accounted for 27.4 percent of Colombia's imports in the latest two months. The United States remained second at 24.5 percent. That partnership left a bilateral deficit of US $2.431 billion in that period.
Colombia mainly imports vehicles from China and gasoline plus light oils from the United States. January trade deficit reached US $1.279 billion after a 17.9 percent annual rise. Trade experts cite persistent imbalances as China now ranks as Colombia's top import source.
US chargé d'affaires John McNamara warned that ties with non-democratic China could strain relations with Washington. He urged officials to consider the United States' key role as a top investor and trading partner.
China unveiled the Belt and Road Initiative in 2013 to link markets across continents through infrastructure projects. Colombia and China elevated their ties to a strategic partnership after President Petro's visit to Beijing in October 2023.
Accession would unlock Chinese financing for transport, energy, telecommunications and port upgrades across Colombia. Colombia faces the challenge of securing capital for modernization while safeguarding fiscal sovereignty and allies.
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