{"id":50004513,"date":"2015-12-10T12:58:30","date_gmt":"2015-12-10T12:58:30","guid":{"rendered":"https:\/\/stage.dialogochino.net\/?p=4513"},"modified":"2023-06-15T18:39:23","modified_gmt":"2023-06-15T15:39:23","slug":"4513-where-are-sino-colombian-relations-headed","status":"publish","type":"post","link":"https:\/\/dialogue.earth\/en\/business\/4513-where-are-sino-colombian-relations-headed\/","title":{"rendered":"Where are Sino-Colombian relations headed?"},"content":{"rendered":"

During the leaders summit at the Asia-Pacific Economic Cooperation Forum in November, Chinese president Xi Jinping promised<\/a> that Sino-Colombian diplomatic relations will improve <\/a>and that cooperation on finance, infrastructure, manufacturing and agriculture would reach a \u201chigher level\u201d \u2013 a favourite saying of Chinese officials.<\/p>\n

A few days previously, the Colombian National Infrastructure Agency awarded<\/a> a contract to construct highways and other related Works to the Chinese-Colombian consortium Autopistas Urab\u00e1, which China Harbour Engineering Company has a 30% stake in.<\/p>\n

The \u201cstrategic\u201d project will require investment of $US 423 million and is considered essential for the development of Antioqu\u00eda as it\u2019s already part of a network of roads that will change the face of the region. More importantly, the project will apparently open the door for more Chinese companies.<\/p>\n

However, and in contrast to its neighbours Venezuela and Ecuador, Colombians have been cautious about their relationship with China. Chinese investment accounts for scarcely 0.2% of total FDI in Colombia. And Colombia is the destination for just 0.6%<\/a> of the total Chinese loans received by Latin America. But the reasons why are not well understood.<\/p>\n

Colombian NGO Ambiente y Sociedad<\/a> (Environment and Society in English) posits<\/a> that Colombians have little knowledge about the growing role of China in their country. The organisation says it is vital they better understand the parameters of Chinese investment, what interests these are pursuing, how they translate into concrete projects that satisfy developmental needs, and what the socio-environmental implications are.<\/p>\n

Hoping to contribute to the analysis, Ambiente y Sociedad published a report<\/a> in November entitled; \u201cChinese investments in Colombia: A revision of the covenants of cooperation between Colombia and China<\/em>.\u201d The report represents an important and pioneering effort from NGOs in the region. Firstly, it presents information that should be public but which is not easily accessible. Secondly, because it helps us understand the Chinese finance framework in Colombia, its history, its structure and tendencies.<\/p>\n

According to the report, there have been three important moments in the development of the China-Colombia partnership: the signing of the Bilateral Investment Treaty in 2008 (which entered in force in 2012); the signing of deals alongside the Oil Cooperation Agreement in 2012 during president Juan Manuel Santos\u2019 tour of Asia; and the agreements signed in May 2015 during Li Keqiang\u2019s Latin America tour. Meanwhile, China and Colombia continue to entertain the idea of signing a free trade agreement (FTA).<\/p>\n

The report indicates that China and Colombia have signed around two dozen cooperation agreements and although the majority of these (14) have focused on promoting trade and economic and technical cooperation, the \u201csector with the highest concentration of Chinese investment is hydrocarbons, where they\u2019re looking to generate cooperation opportunities so that Chinese companies can invest\u2026\u201d. Another important sector is infrastructure (5 agreements), in which the standout projects are the plan to harness the Magdalena River<\/a>, the Buenaventura Industrial Park<\/a> and the Highway to the Sea 2<\/a> project.<\/p>\n

Just like Venezuela and Ecuador, Colombia is suffering from the crash in international oil prices; \u201c54% of the country\u2019s exports and 40% of foreign investment goes to the sector, which is responsible for a fifth of the country\u2019s tax revenues<\/a>\u201d, reports say. According to some analysts, construction and infrastructure could be a \u201csalvation\u201d that energises investment and employment. Others say Colombia will sign the credit agreements safe in the knowledge that it still enjoys the confidence of financial markets.<\/p>\n

In either scenario, Colombia and China could find opportunities for cooperation that facilitate this \u201cjump to the next level\u201d. But before then, Colombia has much to learn from its neighbours.<\/p>\n","protected":false},"excerpt":{"rendered":"

Increasing cooperation likely to yield infrastructure deals or credit contracts<\/p>\n","protected":false},"author":40000225,"featured_media":50004515,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[758],"tags":[544,50040720,600],"hashtags":[],"country":[20000110,50000025],"class_list":["post-50004513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-finance","tag-geopolitics","tag-trade","country-china","country-colombia"],"acf":[],"yoast_head":"\nWhere are Sino-Colombian relations headed? | Dialogue Earth<\/title>\n<meta name=\"description\" content=\"Increasing cooperation likely to yield infrastructure deals or credit contracts\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dialogue.earth\/en\/business\/4513-where-are-sino-colombian-relations-headed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Where are Sino-Colombian relations headed?\" \/>\n<meta property=\"og:description\" content=\"Increasing cooperation likely to yield infrastructure deals or credit contracts\" \/>\n<meta property=\"og:url\" content=\"https:\/\/dialogue.earth\/en\/business\/4513-where-are-sino-colombian-relations-headed\/\" \/>\n<meta property=\"og:site_name\" content=\"Dialogue Earth\" \/>\n<meta property=\"article:published_time\" content=\"2015-12-10T12:58:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-15T15:39:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/dialogue.earth\/content\/uploads\/2015\/12\/magdalena-river-3.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"359\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Hands Up Admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/dialogue.earth\/en\/business\/4513-where-are-sino-colombian-relations-headed\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/dialogue.earth\/en\/business\/4513-where-are-sino-colombian-relations-headed\/\"},\"author\":{\"name\":\"Hands Up Admin\",\"@id\":\"https:\/\/dialogue.earth\/en\/#\/schema\/person\/e6f5ec9306faf26417be0d14efe096bc\"},\"headline\":\"Where are Sino-Colombian relations headed?\",\"datePublished\":\"2015-12-10T12:58:30+00:00\",\"dateModified\":\"2023-06-15T15:39:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/dialogue.earth\/en\/business\/4513-where-are-sino-colombian-relations-headed\/\"},\"wordCount\":594,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/dialogue.earth\/en\/#organization\"},\"image\":{\"@id\":\"https:\/\/dialogue.earth\/en\/business\/4513-where-are-sino-colombian-relations-headed\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/dialogue.earth\/content\/uploads\/2015\/12\/magdalena-river-3.jpg\",\"keywords\":[\"Finance\",\"Geopolitics\",\"Trade\"],\"articleSection\":[\"Business\"],\"inLanguage\":\"en\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/dialogue.earth\/en\/business\/4513-where-are-sino-colombian-relations-headed\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/dialogue.earth\/en\/business\/4513-where-are-sino-colombian-relations-headed\/\",\"url\":\"https:\/\/dialogue.earth\/en\/business\/4513-where-are-sino-colombian-relations-headed\/\",\"name\":\"Where are Sino-Colombian relations headed? 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