The press release issued by the Department for Business and Trade on 17 October 2023.
On October 9, 2023, the UK Minister of State for International Trade, Nigel Huddleston MP, and the Colombian Minister of Trade, Industry, and Tourism, Germán Umaña, met in Bogotá, Colombia, for the third edition of UK-Colombia trade dialogues.
Ministers welcomed the longstanding and deep bilateral trade relations enjoyed between Colombia and the United Kingdom and committed to promote inclusive and sustainable trade that drives economic growth, business opportunity and job creation.
Ministers agreed on the importance of promoting sustainable foreign investment that, through value chains, can result in the development of new technologies and enhance each country’s competitiveness.
Ministers agreed to work together to increase support for the improvement of regulatory policy of mutual interest to Colombia and the United Kingdom. In addition, the ministers agreed to develop a joint road map as a mechanism to establish a methodology for holding annual UK-Colombia trade dialogues and assessing delivery of joint initiatives and collaboration.
Minister Huddleston set out the United Kingdom’s world-class offer in the renewable energy, infrastructure, and life sciences sectors, and the potential for closer working to help deliver Colombia’ economic, environmental and social ambitions. He highlighted the United Kingdom’s willingness to exchange experiences and best practices in harnessing innovation and creating enabling environments to deliver for citizens in these sectors.
Minister Umaña expressed Colombia’s desire to modernise the international and bilateral frameworks governing investments.
Ministers celebrated the recent success in delivering joint objectives in key sectors of future growth:
- Renewable Energy: Ministers agreed to co-ordinate strategies for the regulatory development of hydrogen and offshore wind energy in Colombia to help develop the market.
- Life Sciences: Ministers welcomed the practical measures recently taken to support innovation on the sector and agreed that further co-operation can help deliver Colombia deliver its healthcare objectives.
- Infrastructure: Ministers welcomed the close working on sustainable transport infrastructure, which will be of benefit to Colombian citizens and help meet climate commitments. Ministers encouraged the implementation of the railway master plan.
- Agribusiness: Ministers expressed their pleasure in progress promoting sustainable land use and urged continued collaboration to open new market opportunities for agricultural products.
Ministers emphasized the importance of working together on the global stage, including in the WTO. They agreed to continue discussions in the run up to next year’s MC13 to ensure that Ministers are able deliver tangible progress in areas such as services and climate change and safeguard the organisation’s effectiveness.
Ministers recalled the deep bond of friendship between the two countries, symbolised by the levels of cooperation in trade and investment discussed during the Dialogue. Minister Huddleston welcomed the progress that Colombia had made in its peace process and offered United Kingdom continued support in helping build sustainable and prosperous communities in former conflict areas.