The Trade Ministry aspires for 2014 to increase investment in infrastructure, increase competitiveness in the manufacturing industry and an increase in the number of visitors to Colombia to 4 million. According to a press release, Trade Minister Santiago Rojas is optimistic about the goals on the agenda, and sees the objectives necessary for the development of the private sector and the government.

Foreign trade is estimated to increase to $63 billion in the new year. “Of this amount achieved, would be the greatest historical value exported by Colombia,” he said.

The Foreign Direct Investment, FDI, which constitutes of the inflows and outflows of capital between countries, is projected to reach $13.2 million.

Furthermore, the minister said efforts this year will focus on leveraging the development in potential sectors such as trade agreements with the European Union.

Industrial Policy: Reduce Costs, Stimulate Entrepreneurship

Rojas emphasized the important aspect of reducing the cost of Colombia. This will include lowering the rates of energy production costs in enterprises.

According to the minister, one of the main challenges facing the industrial industry is how to stimulate entrepreneurial activity and strengthen stage financing, a method used to reduce the risks of investing.

“One of the pillars to achieve a more competitive industrial sector has to do with the inclusion of our companies in global value chains,” he said.

Tourism Sector: target 4 million visitors

“This year we repeat the exercise, with the aim to have sufficient supplies for tourism and their specific needs are included in the National Development Plan of the new government and, ultimately, should lead to a more competitive sector and world class, ” the minister said, in regards to the tourism industry.

This goal involves encouraging state agencies, tourism managers, unions, educational institutions and tourism service providers to participate in the plan to “make tourism a clear choice of social and economic development in all regions of the country,”  Rojas said.

Rojas hopes that Colombia will manage to attract 4 million visitors to Colombia by the end of December 2014  – equivalent to an estimated $4 billion in revenue.

“We have made significant progress on migration issues and connectivity, which leads us to predict that the number of international travelers will continue its upward trend. To do this, next year I will strengthen work on issues such as bilingualism, customer service, infrastructure, training and building business plans for different segments of tourism, including business and health,” he said.


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