The Second Meeting of Joint Committee of Business Development Cooperation between India and Colombia was held on 11th February, 2013 in New Delhi. Mr. Carlos Andres de Hart Pinto, Vice Minister of Entrepreneurial Development, Colombia and Commerce Secretary Shri S R Rao, Govt. Of India met to discuss issues of concern of both sides.

A lot of emphasis was made on improving bilateral trade and investment between the two countries. Specific sectors such as Mines and Minerals, textiles, engineering, automobile, pharmaceuticals and Biotech, transport sector, infrastructure development, strengthening human capital, cluster development of certain sectors, knowledge transfer, services trade (IT, software engineers, BPOs) have been identified for enhancing collaboration and co-operation .

It was decided to constitute Joint Working Group (JWG) in five sectors viz pharma/biotech, IT, FMCG, Auto, engineering & transport, textiles to formalize the structure and follow up enhancement in value chains in these sectors. Both sides decided to consider flexibility in Visa issues. Cooperation in tourism sector was also explored.

It has been decided to set up a CEO forum for discussion on various issues at the level of B2B which will be co-chaired by business stalwarts from both sides.

DS/RK

(Release ID :92149)

Bilateral trade and investment cooperation expanded via sectoral working groups and a CEO forum to deepen commercial ties. The meeting advanced bilateral trade and investment cooperation by identifying priority sectors-mines and minerals, textiles, engineering, automobile, pharmaceuticals and biotech, transport and infrastructure, services trade, FMCG-and emphasizing human capital and knowledge transfer. Parties agreed to constitute Joint Working Groups for pharma/biotech, IT, FMCG, auto, engineering & transport, and textiles to formalize structures for follow-up and value-chain enhancement, to establish a CEO forum for B2B dialogue, consider visa flexibility, and explore tourism cooperation.