Chilean Cos Rise Investments in Colombian Retail, Construction, Energy Sectors

A boom of the Chilean investments in the retail, construction and energy sectors of Colombia has been registered in the last few months, Colombian daily Portafolio said on December 17, 2007.

Chilean investments in Colombia have totalled $4.3 bln (2.94 bln euro) since 1990, according to data of the Colombian Foreign Affairs Ministry. In the first years of that period 90 pct of the investments were made in the Colombian energy sector, the Chilean ambassador in Bogota, Gabriel Gaspar, said. In the last few years investments in the construction and retail sectors are constantly growing, he added. More than 40 Chilean companies have investments in Colombia at present, Gaspar was quoted as saying. They are increasing the investments mainly due to the economic stability.

Chile and Colombia are also currently discussing the signing of a free trade agreement (FTA) between them. Their trade exchange totalled $850 mln (581.32 mln euro) in 2006, while it stood at more than $1.0 bln (683.9 mln euro) over the January-September 2007 period.

Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: December 18, 2007

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