Colombia has hopes of increasing Pacific exports

Tholen – The meeting held in Cali-Colombia left an important message to the participants: if countries want to expand trade and attract investments to their Pacific coast, a profound enhancement of the infrastructure in ports and routes is necessary.

The Colombian Trade Minister, Luis Guillermo Plata, told the press that the government is currently working with the Andean Promotion Corporation (in Spanish, Corporación Andina de Fomento) to finance the expansion of a route between Buenaventura, the Colombian main port in the Pacific and a main city called Buga. Other investments would include investments in the port itself. The credit would be of approximately US$300 millions.

Some examples of positive development in the Latin American Pacific are Mexico, Chile and Peru. These countries are part of the Asia Pacific Economic Cooperation (APEC) Forum, where Colombia expects to join with the support of Chile. However, the forum issued a clause to avoid the inclusion of more members 10 years ago. The hope that APEC allows new members is shared by Costa Rica, Panama and Ecuador. However, good intentions of the Government are not enough to trade or receive investments, as it was clarified by some of the assistants to the conference held in Cali. The private sector has to motivate the interest for the Pacific countries and shares the changes in infrastructure that are necessary to develop trade and foreign investment. Approximately, 46% of the world trade flows through the Pacific.

Publication date: January 31 2007
Author: Jahir Lombana
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