Institutional Partnership

Institutional Partnership

India and Colombia enjoy excellent relations for increasing bilateral trade. 
 
The Joint Business Forum between India and Colombia organised by the Confederation of Indian Industry (CII) and the National Association of Industries of Colombia (ANDI) took place in 2002.  In April 2002, a MoU on Information Technology was signed.  Thereafter, NASSCOM of India and FEDESOFT, Colombia signed an agreement for cooperation and collaboration between its respective members.
 
The first ever overseas combined Indian textile exhibition organized in Bogotá and Medellin in 2002 was a great success and the event was repeated in 2004. There is considerable interest of Colombian businessmen in sourcing their requirements from India.  
 
The Commerce Ministry of the Government of India has established the Focus-LAC  Programme for promotion of trade with Latin America and Caribbean.  Under this Programme, the Government offers a set of financial incentives and logistical assistance to the exporters and importers from Colombia so as to enable the latter participate in trade fairs and commercial delegations and sales study tours between India and Colombia. 
 
ANDI signed a MoU with the Confederation of Indian Industries (CII) for mutual cooperation in bilateral trade in February 2007 during the first India-Latin America Business Conclave.
 
A Joint Business Forum between India and Colombia organised by the Embassy, the Confederation of Indian Industry (CII) and the Bogota Chamber of Commerce took place in Bogota in 2007. 
 
In April 2008 the Colombian Minister of Commerce, Industry and Tourism Luis Guillermo Plata visited India to strength the bilateral commercial relations. 
 
In September 2008 the India Colombia Chamber of Commerce was created to promote and enhance the trade between the two countries. 
 
The Union Cabinet has approved the signing and ratification of Bilateral Investment Promotion and Protection Agreement (BIPPA) with Colombia
 
Currently the Governments of both countries are negotiating a Double Taxation Avoidance Agreement.