Politics
Times of Buenos Aires | China seeks to boost investment and strengthen ties with Colombia
China is set to sign an agreement to strengthen ties with Colombia as companies inject billions into rail projects, mines and other investments in the country.
Governments are finalizing an agreement that would include elements of China's massive infrastructure program known as the Belt and Road Initiative, according to Lan Hu, Chinese Ambassador to Bogota. It will also include agreements on politics, economics, culture, science and technology and sports, he said.
China has invested heavily in Colombia's neighbors, including Venezuela and Ecuador, and is now the largest trading partner of several Latin American countries. Until recently, its ties to Colombia, the region's closest American ally, were also strong.
It's changing, fast. Since last year, Chinese companies have committed billions to Colombia, winning bids to build Bogotas' first metro line and regional rail line, and acquiring a gold mine, among others.
Even though we now have more than 40 years of diplomatic relations, five years ago, we didn't have much trade relations, said Lan. The situation has changed a lot.
Chinese telecommunications companies, including Huawei Technologies Co. and ZTE Corp., are also ready to build the Colombias 5G network, said Lan.
The question of who builds next-generation wireless networks has raised alarm signals in Washington, where officials have warned countries to cede control of communications networks to Chinese companies.
Lan said China does not see its presence as a competition with the Americans.
Colombian President Ivn Duque paid a state visit to Beijing in July and Chinese President Xi Jinping is planning a reciprocal trip to Colombia. China is trying to arrange a visit this year, said Lan.
Belt and road
During the visit, President Duque told President Xi that the Belt and Road initiative seemed very interesting for Colombia, supplementing it with a proposal to have a more complete document between the two countries known as the China-Colombia Initiative, said Colombian Deputy Minister for Foreign Affairs Francisco Echeverri. indicated in a written response to questions.
The plan is to have the two documents ready to sign at some point in the year, said Echeverri.
An agreement would pave the way for more investment, including possibly in renewable energy, technology and agriculture, according to Chinas Lan. China would also like agreements to import Colombian flowers, meat and dairy products, he added.
The Colombian economy grew 3.3% last year, the fastest of the major economies in Latin America. This and its political stability makes it an attractive place to invest, said Lan.
by Ezra Fieser and Andrea Jaramillo, Bloomberg
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