Colombia evaluates Venezuela as a strategic supplier to substitute imports in national industry
Ministers of Commerce of Colombia, Diana Marcela Morales, and Venezuela, Coromoto Godoy. Photo: Ministry of Commerce, Industry and Tourism
TL;DR
- Colombia and Venezuela established a Follow-up Commission for Partial Scope Agreement No. 28 to boost bilateral trade.
- The commission will identify goods Venezuela can competitively supply to Colombia, reducing the need for imports from other markets.
- Key priorities include streamlining border crossings, reducing logistics costs, and harmonizing sanitary and phytosanitary requirements.
- The strategy aims to enhance trade quality, added value, and productive integration, going beyond traditional goods exchange.
- Both countries agreed to develop a medium-term agenda for institutional cooperation and investment facilitation.