A staff member makes Colombian coffee for the visitors at the 4th China International Import Expo (CIIE) in Shanghai on Nov. 5, 2021. [Photo/Xinhua]
Colombian Foreign Minister Luis Gilberto Murillo recently completed his four-day visit to China, where the two nations established a joint working group to discuss Colombia’s accession to the Belt and Road Initiative (BRI). Murillo described this development as the most important outcome of his visit.
Colombia and China elevated their bilateral relations to a strategic partnership last October. Despite some challenges, joining the BRI could bring substantial benefits. Colombia’s participation in the initiative could boost long-term development, enhance competitiveness and expand international cooperation.
The relationship between China and Colombia has witnessed remarkable growth since the establishment of diplomatic ties in 1980. Bilateral trade reached $18.79 billion in 2023, underscoring the strong economic bonds between the two nations. As Chinese investment in South America grows, Colombia stands to benefit from expanding economic partnerships.
However, Colombia faces several challenges in deepening this partnership.
A key priority is establishing an information-sharing platform to address concerns among Colombian businesspeople about international agreements with other countries. Creating opportunities for Colombians to deepen their understanding of China, including its people, businesses, culture, and government, remains essential for fostering productive dialogue and strengthening bilateral relations.
From Colombia’s perspective, China has transformed dramatically in recent decades to become a global power through its distinctive political system and market-oriented economic approach. This complex development path sets China apart from traditional models of growth.
The diversification of Colombia’s international relations requires more attention. While past governments focused on trade and cooperation with developed nations, recent years have seen growing emphasis on strengthening ties with neighboring countries, particularly in the Pacific region. Expanded market access would help Colombian businesses, especially small- and medium-sized enterprises, diversify exports and forge international partnerships with a wider range of countries.
Colombia urgently needs infrastructure investment to boost international trade capacity, particularly in its coastal regions where long-term development has been hindered by poor planning, economic stagnation and security challenges.
Colombia’s infrastructure priorities include developing rural areas, expanding industrial facilities and building a modern logistics network. The country also aims to upgrade its telecommunications systems, advance energy transition projects and implement measures to diversify trade for long-term economic growth.
The BRI’s focus on infrastructure development aligns with Colombia’s modernization needs. Through BRI participation, Colombia could attract investment to improve its roads, bridges, ports and other critical infrastructure. These improvements would benefit everyone by facilitating internal trade, creating jobs and enhancing Colombians’ quality of life.
Joining the BRI offers Colombia an opportunity to broaden its international partnerships. During his visit, Foreign Minister Murillo emphasized this approach: “The new progressive foreign policy is an independent, autonomous, and sovereign policy. It looks to the north but also to the south; it looks to the west but also to the east,” highlighting Colombia’s commitment to balanced diplomacy.
Colombia stands at a pivotal juncture, poised to leverage the BRI for substantial economic and diplomatic gains. By examining other nations’ BRI experiences, Colombia can develop effective strategies while managing risks. Clear communication channels will ensure productive dialogue among all parties. The BRI offers Colombia opportunities for investment, collaboration and sustainable growth, potentially establishing the nation as a key player in the global economy.
Catherine Marquez is a Ph.D. candidate in Global Studies at Shanghai University.
Opinion articles reflect the views of their authors, not necessarily those of China.org.cn.
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Publish date : 2024-10-28 15:08:00
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