WORLD TRADE  
ORGANIZATION   
WT/TPR/M/265 
17 September 2012 
 (12-4959) 
Trade Policy Review Body  
26 and 28 June 2012 
  
TRADE POLICY REVIEW 
 
COLOMBIA 
 
Minutes of Meeting 
 
Chairperson:  H.E. Mr Shahid Bashir (Pakistan) 
 
 
  Page 
 
I.  INTRODUCTORY REMARKS BY THE CHAIRPERSON 3  
II.  OPENING STATEMENT BY THE REPRESENTATIVE OF COLOMBIA 5  
III.  STATEMENT BY THE DISCUSSANT 11  
IV.  STATEMENTS BY MEMBERS 14  
V.  REPLIES BY THE REPRESENTATIVE  OF COLOMBIA AND ADDITIONAL 
COMMENTS 39 
VI.  CONCLUDING REMARKS BY THE CHAIRPERSON 44  
 
 
Note:   Advance written questions by WTO Memb ers and the replies provided by Colombia are 
reproduced in document WT/TPR/M/265/Ad d.1 and will be available online at 
http://www.wto.org/english /tratop_e/tpr_e/tp_rep_e.htm WT/TPR/M/265 
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  I. INTRODUCTORY REMARKS BY THE CHAIR PERSON 
1. The fourth Trade Policy Review of Colo mbia was held on 26 and 28 June 2012.  
The Chairperson, H.E. Mr Shahid Bashir (Pakis tan), welcomed the delegation of Colombia led 
by Dr Gabriel Andre Duque Mildenberg, Vice Minist er of Trade, Ministry of Trade, Industry and 
Tourism, and the discussant, H.E. Mr Tim Yeend (Australia). 
2. The Chairperson recalled the purpose of Trade Po licy Review and the main elements of the 
procedures of the meeting.  The report by Colombia  appeared in document WT/TPR/G/265, and that 
of the Secretariat in document WT/TPR/S/265. 
3. Questions by the following delegations had been  submitted in writing at least two weeks in 
advance of the meeting and had been transmitted to the delegation of Colombia:  Hong Kong, China;  
Australia;  Chinese Taipei;  United States;  China;  the Republic of Korea;  Canada;  Trinidad and 
Tobago;  Mexico;  Japan;  Argentina;  th e European Union;  Chile;  Brazil;  and 
the Dominican Republic.  The following delega tions had submitted wr itten questions after 
the two-week deadline:  Pakistan;  Turkey;  Co sta Rica;  Thailand;  Peru;  and El Salvador. 
4. The Chairperson noted that according to the re ports prepared for the meeting by Colombia 
and the Secretariat, Colombia's economy had weathe red well the global economic  crisis by keeping its 
economy and trade open, resisting protectionism sentiments.  Colombia  had reduced tariffs 
significantly, and had adopted a three-pronged stra tegy for supporting the competitiveness of local 
producers, which included access to financial service s, improvement of the business environment and 
private sector participation in the s upply of public goods.  Deta ils of this strategy were available in the 
reports before Members.  GDP growth had averag ed 4% in 2010 and 5.9% in 2011.  Colombia had 
been successful in attracting FDI needed to boost economic growth and employment. 
5. Colombia had used fiscal measures as an in strument to promote national and foreign 
investment, as well as other support programmes to promote development in specific sectors and to contribute to social and political equality.  It ha d also continued to implement a number of WTO 
compatible export support and promotion programmes, including the free zones. 
6. Members had shown keen interest in Colombia 's Trade Policy Review, which was reflected 
by the number of questions raised by them.  So me of the points raised by Members in advance 
questions included: 
 In the area of imports, Members asked for further details relating to import 
procedures, e.g. documents required for clearance of goods and the role of customs agents and experience of single window opera tion.  As regards customs valuation, 
Members were also interested in having mo re details about the use of indicative and 
estimated prices, and reference prices as  well as the procedures in place in case the 
customs value is disputed.  Queries were also raised regarding the import licensing system and the possibility of imposing temporary import bans. 
 Members had asked questions with respect  to the recognition of international 
technical regulations and conformity assessm ent;  accreditation;  and about technical 
regulations applied in specific sectors. 
 Several Members had posed questions re garding Colombia's measures to support 
exports.  In this regard more details we re sought on the use of Tax Reimbursement 
Certificates and on the different export support programmes including the free-trade 
zones regime. WT/TPR/M/265 
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 Members had raised questions regarding changes to the competition policy legal 
framework.  Queries were raised regarding th e use of price controls and their market 
impact.  On government procurement, Members had sought more information 
regarding the reforms that had taken place since the previous TPR in 2006 and their 
expected impact.  Members had also requested more information on IPR protection 
including:  compulsory licensing, requirements to register a trademark, protection of geographical indications, computer pr ograms and databases, procedures for 
registration, and on enforcement. 
 Members had sought more information on  measures taken to attain sustainable 
growth.  Further clarifications were s ought regarding the use of tariff quotas, the 
Andean Price Band System, domestic support programmes, price stabilization 
mechanism and export restrictions. 
 Members had also requested further details  related to Colombia's mining policy and 
market access for foreign enterprises. 
 With respect to Colombia's FDI regime, Members had sought more information on 
the existing prohibitions and restrictions a nd on legal stability contracts, including 
bilateral investment protection and prom otion agreements.  Members had raised 
issues regarding market access for foreigne rs in the services sector, registration 
requirements for foreign companies supplyi ng services, the granting of concessions, 
domestic regulation, price-setting mechanism and incentives. 
7. Members considered that Colombia's role in the WTO and the multilateral trading system was 
proactive and constructive ever since the beginning  of the Uruguay Round.  Colombia had over the 
years chaired numerous negotiating and regular committees including at present the TPRB, Colombia 
was an active member of groups promoting increased disciplines and market opening in various issues 
in the Doha Round negotiations. 
8. Colombia was keen to become more integrat ed into global value chains as part of its 
long-term policy of integrating more with the world economy by improving further trade facilitation 
and reducing applied tariff regimes.  WT/TPR/M/265 
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  II. OPENING STATEMENT BY THE RE PRESENTATIVE OF COLOMBIA 
9. Colombia attaches the utmost importance to th e multilateral trading system, a fact which is 
evidenced in all of the economic and trade forums in  which we participate and in our daily activities.  
Consequently, we appreciate the fourth Trade Policy Re view as an exercise which enables us to report 
to Members on the country's economic and trade policy development over the past six years.  This has 
been a useful experience for our authorities in that  it has helped to identify our achievements and the 
challenges that lie ahead as we continue in our  efforts to improve our country's growth and 
development and its integration in the world economy. 
10. Almost six years ago, in this same context,  we explained the successes that had marked a 
decade of challenges.  Between the second and third review, we had been confronted with a number 
of difficult events, both political and economic.  At the time, we outlined the objectives of the 
government plan which marked out the economic and social transformation that took place 
between 2002 and 2006. 
11. Today, I would like to revert to the statement made by our President at the 
recent G-20 Summit in Mexico in which he referr ed to the way in which Colombia overcame the 
economic crisis ten years ago:  "Colombia applied a set of principles:  pragmatism, a far-reaching 
plan, a comprehensive, socially sensitive and politi cally viable plan".  This same approach was 
maintained for the 2010-2014 Development Plan that  guides our authorities today in an effort to 
strengthen security, social cohesion and investor confidence in order to progress resolutely towards 
democratic prosperity, in other words prosperity for all. 
12. Let me begin by highlighting Colombia's economic performance.  Our GDP grew at an 
average annual rate of 4.8% betw een 2005 and 2011, exceeding the average for Latin America and the 
Caribbean (according to ECLAC, 4%).  This growth was chiefly driven by investment, whose share in 
GDP increased by 8 percentage points to more than  27% in 2011, reflecting greater confidence in our 
economy.  In fact, this was a continuation of  the growth trend from the previous review 
period:  from 20.2% of GDP in 2005 the figure rose to 24.5% in 2010 and 27.1% in 2011. 
13. Prudent management of fiscal and monetary po licies prevented the international financial 
crisis from affecting the economy.  Thanks to a firm commitment to the principles of openness and 
trade liberalization, it was possible to maintain a sound macroeconomic environment in which appropriate levels of inflation,  public spending and interest rat es guaranteed an equilibrium that 
produced stable growth. 
14. Foreign direct investment rose from US$6.056 billion in 2006 to US$13.234 billion in 2011, a 
historical peak for Colombia, thanks to the stab ility of its economic and tr ade policy and an improved 
business climate.  At the same time, Colombia n investment abroad rose from US$1.098 billion 
in 2006 to US$8.289 billion in 2011. 
15. Thanks to the solid performance of the economy in  recent years, it has been possible to reduce 
the unemployment rate, albeit not as rapidly as hope d.  In June 2005, the unemployment rate 
reached 11.5%, falling to 9.8% in December 2011, and rising again to 10. 4% in March 2012 for 
seasonal reasons.  These results, together with th e programmes introduced by the Government to 
increase the coverage and quality of different basi c services, as well as programmes to reduce extreme 
poverty, resulted in a decrease in poverty from 45%  in 2005 to 37.2% in 2010 and 34.1% in 2011. 
16. 
As I mentioned before, the sound results achie ved at the end of the four-year period 
from 2006 to 2010 with the Democratic Security Po licy led the Government to implement policies 
under the "Democratic Prosperity 2010-2014" deve lopment plan to bolster the competitiveness and 
productivity of the economy.  This involved the identif ication of five sectors with high potential to WT/TPR/M/265 
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  stimulate economic growth, the so-called "locomotive"  sectors:  agriculture and rural development;  
housing and friendly cities;  development and expansion of mining a nd energy;  transport 
infrastructure;  and new innovation-based sectors.  Given the driving potential of these sectors, the 
Government hopes to be able to boost productivity,  growth and employment and to reduce poverty. 
17. Colombia faces challenges with respect to competitiveness, internationalization of the 
economy, and integration in global value chains.  The Government is aware that overcoming these 
challenges would open up real possibilities of ac hieving high growth rates, generating quality 
employment, and reducing poverty.  Consequently, it has set itself the goal of increasing the average 
economic growth rate by 1.7 additional percentage points. 
18. During the first two years of the new Development Plan, the GDP growth rate rose from 4% 
in 2010 to 5.9% in 2011 - in other words, it accelerat ed by 1.9 percentage points.  This increase was 
essentially driven by two of the locomotive sectors, namely mining and energy (14.3%), and transport 
infrastructure (6.9%).  The housing and agricultural sect ors resumed their growth, at a rate which rose 
from -1.7% to 5.7% for the former, a nd from 1% to 2.2% for the latter. 
19. The stimulation of the so-called "locomotive" sectors to strengthen competition goes hand in 
hand with innovation and the formalization of busin ess and labour relations.  A number of steps were 
taken by the Colombian Government in this r espect, including the promulgation of a Law on 
Formulization and Employment Creation which, in its  first year, benefited 290,703 enterprises.  At the 
same time, access to financial services was improved, as was, in particular, the business environment, which I shall revert to further on. 
20. In the innovation "locomotive" sector, we would like to highlight the Productive 
Transformation programme, which was restructured  in 2010 as a sector-based policy model focusing 
on public-private sector cooperation in stimula ting domestic production of goods and services and 
ensuring their successful integration in global valu e chains.  The programme involves 16 agricultural, 
agro-industrial and industrial sectors producing g oods and services, and exports under the programme 
reached US$6.308 billion in 2011, exceeding th e annual target of US$5.5 billion by 15%. 
21. As we stressed in our Government report, fo r Colombia, increased internationalization of the 
economy and transformation of domestic production are fundamental to achieving greater economic 
development and reducing poverty. 
22. In pursuing this objective during the review period, Colombia successfully developed and 
implemented its strategy of integration in the global economy, seeking more intensive and open trade 
within a transparent, predictable and inclusiv e multilateral system, which is complemented by 
regional and bilateral efforts.  We believe in the importance of pursuing our global integration, with 
emphasis on the Latin American and Caribbean regi on and increased efforts to move closer to the 
Asia-Pacific Basin and to Africa.  The ultimate aim is  to improve our participation in the value chains 
by increasing and diversifying foreign trade in goods  and services and foreign direct investment flows 
into our country as well as the investments of Colombian entrepreneurs in foreign markets. 
23. I think we can say with a certain amount of satis faction that we have met the targets we set 
ourselves.  Between 2006 and now, Colombia has manage d:  (i) to diversify its markets by concluding 
and implementing new trade agreements with Guat emala, Honduras and El Salvador in 2010, with 
Canada, Switzerland and Lichtenstein in the frame work of the European Free Trade Association 
in 2011 and with the United States on 15 May of th is year, while at the same time extending the 
agreement with Mexico and Chile, not to menti on the signature in Brussels today of the Trade 
Agreement with the European Union and the progr ess achieved in the negotiation of agreements 
with Turkey, Israel and Panama;  (ii) to strengthe n its relations with Latin America and the Caribbean 
by improving trade relations and cooperation with the Andean Community and MERCOSUR,  WT/TPR/M/265 
 Page 7 
 
 
  concluding a new agreement with the Bolivarian Re public of Venezuela, and more recently, launching 
trade negotiations with Costa Rica.  Very importa nt in this connection was the launching of the 
Pacific Alliance, which seeks to deepen the already close economic, trade and investment relations 
between Chile, Mexico, Peru and Colombia, and to  push for an area in which goods, services, capital 
and persons can circulate freely;  (iii) to strengthe n its participation in mu ltilateral organizations by 
participating actively in the WTO and establishing mu ch closer ties with the OECD.  Worth noting in 
this respect is Colombia's adhe rence to the OECD Declaration on International Investment and 
Multilateral Enterprises in October 2011;  and (iv) to  develop strategies for rapprochement with Asia 
and the Pacific, a foreign policy challenge that we have already begun to tackle successfully:  we only 
recently concluded the negotiation of a free trade agreement with the Republic of Korea, and will 
soon have completed a st udy with a view to initiating the ne gotiation of an economic association 
agreement with Japan.  Similarly, we have rep eatedly shown our interest in being accepted as a 
member of APEC once the moratorium has been lifte d and in participating in the ongoing negotiations 
to conclude the Trans-Pacific Partnership Agreement. 
24. The international integration strategy h as been accompanied by the negotiation and 
implementation of investment agreements which o ffer stable rules, minimize the legal risks and 
improve the business and investment climate.  The signature of investment agreements has significantly helped Colombia to appear on the rada r screens of international investors.  Both the 
Secretariat report and the Government report contai n full detailed information on the agreements in 
question. 
25. All of these actions have enabled the country to maintain a dynamic and stable trend in 
foreign trade in goods and services.  The sound pe rformance of production in some sectors of the 
Colombian economy, international prices of primar y products and the opening up of new markets 
have contributed to the favourab le development of foreign sales. 
26. Indeed, goods exports grew at an average rate  of 18% between 2005 and 2011, while imports 
grew at 17%.  Foreign sales exceeded expecta tions, increasing from US$21.190 billion in 2005 
to US$56.954 billion in 2011.  The last year saw a growth of 43% in comparison to 2010, 
and 23 consecutive months of positive growth. 
27. Although mining and energy exports continued to account for a large share of overall exports, 
the Productive Transformation Programme and other en trepreneurial developmen t tools have begun to 
have a positive impact by boosting higher value added exports.  Exports  have continued to 
concentrate on three main destinations, the Unite d States, the European Union, and the Andean 
Community.  However, over the last two years Chin a, Mexico, Chile and Panama have seen their 
shares increase.  Also, si nce last year, trade flows have been re-established with our neighbour, 
Venezuela. 
28. In view of the importance of services in Colomb ia's GDP and their relationship with trade in 
goods, Colombia is developing a policy aimed at boos ting productivity and competitiveness levels so 
as to be able to increase and diversify its exports in that area.  For the moment, its foreign trade 
performance remains modest.  The trade balance shows a deficit, due in particular to the increased 
growth in transport services imports as a result of the increasingly dynamic trade in goods. 
29. A document recently prepared by the OECD a nd the WTO for the G-20 Ministerial in Cancun 
shows that growth in international trade in genera l, and the appearance of regional and global value 
chains in particular, has meant that every day th ere are more goods and services crossing the borders 
between countries.  Every time they do this, they have to go through a series of procedures and 
formalities, chiefly to do with customs.  Comple x and inefficient border measures can push up the 
costs of trade from anywhere between 2 and 15% of the value of the tradable goods. WT/TPR/M/265 
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  30. Our National Development Plan states that "str eamlining and rationalization of foreign trade 
regulations aims to facilitate all interactions between State regulation, supervision and control 
agencies and private-sector users engaged in foreig n trade activities.  This policy plays a dominant 
role not only in improving the competitiveness of th e economy, but also in ensuring that the country 
properly benefits from the market access oppor tunities offered by the trade agreements". 
31. Accordingly,  Colombia is seeking to introduce efficient customs procedures, in keeping with 
international standards, that will speed up the cl earance of goods while ensu ring effective control over 
security and helping to prevent and combat fraud.  It  will be using a number of tools to achieve that 
aim, including the Single Foreign Trade Window , the risk management scheme, and the timely 
exchange of information between customs administ rations.  Special attention will be paid to the 
simultaneous inspection of goods a nd the adoption of non-intrusive te chnology for these processes, as 
well as digitization and recognition in other countries of import and export documents such as certificates of origin. 
32. To that end, customs legislation is being broug ht into line with the principles of security, 
control and facilitation.  This should ensure that importers receive the goods within 48 hours of their 
arrival.  At the same time, work is being done at th e inter-institutional level to set up a centralized risk 
management system.  To illustrate the results achie ved in that area, Colombia moved up five places, 
from 47
th to 42nd, in the Doing Business 2012  rankings, and positive reforms were seen to have been 
made in four areas:  starting a business, paying tax es, registering property and resolving insolvency. 
33. What stands out in particular are the investme nt and insolvency indicators.  In the case of 
insolvency, Colombia has entered the select gr oup of countries with the highest standards for 
restructuring and liquidating companies.  Colombia also moved up 23 ranks for ease of paying taxes.  
The report places Colombia in the category of countries with the highest number of reforms, the only economy in Latin America to receive that distinctio n.  Within the region, Colombia saw a relative 
improvement and keeps its third rank in  Latin America after Chile and Peru. 
34. The report by the Secretariat describes Colo mbia's development and achievements with 
respect to regulation and to stimulation of produc tion.  Significant reforms were introduced in the 
mining and hydrocarbons sector with the creation and launching of the National Mining Agency, 
responsible for driving the energy and mining "locomo tive",  as well as reforms to the Mining Code to 
make the allocation and execution of major investment  projects more efficient.  These reforms explain 
the interest expressed by a number of investors from th e countries that are participating with us in this 
review today. 
35. Significant progress was made in the telecommunications area in 2009 with the introduction 
of a unified legal framework for information a nd communications technology in order to help 
overcome the challenges of the ever-changing  and ever more demanding ICT world. 
36. During the review period, Colombia lived up to its WTO commitments, and the different 
measures adopted in the trade po licy area were consistent with the WTO agreements and with the 
principles of the GATT 1994. 
37. Bound tariffs remained unchanged.  We ar e awaiting the certification of the new 
commitments arising from our recent accession to the Information Technology Agreement which, 
added to reforms introduced in the ITC sector si nce 2009 - described in sufficient detail in the 
Secretariat report - represents a fundamental step forward. 
38. With regard to applied tariffs, during the revi ew period Colombia took the decisive step of 
rationalizing the tariff structure that had been in force for more than two decades and decreasing the  WT/TPR/M/265 
 Page 9 
 
 
  nominal average rate and tariff dispersion in an effort to boost the competitiveness of domestic 
production and exports. 
39. Indeed, the tariff reform  introduced at the end of 2010 and the first semester of 2011 sought 
to use the country's competitive advantages, reduce the average tariff rate and dispersion, streamline 
customs administration and bolster the Government's  efforts to prevent the peso from becoming too 
strong.  As a result, the average tariff was brought down from 12.2% to 8.3%, which has 
unquestionably led to a reduction of  the anti-export bias and an im provement in the competitiveness 
of domestic production by substantially lowering tari ffs on raw materials and capital goods.  We are 
currently also examining the possibility of exte nding the temporary tariff reduction measure on raw 
materials and capital goods not produced in Colombia, which cu rrently places the average tariff 
at 6.4%. 
40. Turning to trade defence, Colombia h as used anti-dumping and safeguard measures 
moderately, in compliance with its domestic le gislation which is fully consistent with 
the WTO agreements.  A new law was enacted in 2009 to reinforce the protection of competition by 
updating the functions and strengthening the mana gement capacity of the national competition 
authority.  This has speeded up the decision- making process and reduced the average duration of 
investigations. 
41. Also worth mentioning is the transition and reinforcement that has taken place in the 
government procurement area since 2002 and 2003, when the Government decided to adopt a managerial State approach to promote efficiency and transparency in government procurement.  It 
recently competed the process by creating and la unching the National Government Procurement 
Agency - Colombia Compra Eficiente. 
42. On the transparency front, the Secretariat repor t stresses that Colombia has maintained an 
active programme of notifications, and we intend to  continue doing so.  Colombia had stated in 
different economic and trade forums that one of  the WTO's important contributions to world 
economic recovery is the control of the protecti onist pressures accompanying the crisis.  With a 
multilateral body of rules and an organization to mon itor them, we have been able to avoid the kind of 
global escalation of protectionism that took place during the great depression and served only to aggravate the crisis. 
43. Greater exposure to international trade unquesti onably stimulates productivity in that it leads 
to improved competition from imports, access to raw materials and capital goods at more competitive 
prices, specialization of production, economies of sc ale, and the adoption of better business practices 
in line with international standards.  Consequently, we need to remain firm against the protectionist 
pressures which are sometimes brought to bear on the authorities.  A strong and solid World Trade Organization, that actively examines the problems affecting trade and seeks solutions to them, is 
essential for us all.  Colombia has been, and will con tinue to be, a staunch supporter and promoter of 
the multilateral trading system and the WTO. 
44. But perhaps the greatest contribution we can make to world economic recovery is to ensure an 
early, ambitious and balanced conclusion of the Doha Round negotiations.  Besides, the 
implementation of the results of a round concluded in that spirit woul d be of considerable benefit to 
developing countries like Colombia.  First and fore most among the achievements to which we aspire 
are reforms to agriculture, which would enable us to  participate in a more open market and in fairer 
conditions. 
45. We hope that this fourth Trade Policy Review  of Colombia will provide Members with a 
more comprehensive picture and a better understa nding of our policies and measures.  During the 
review period, our economy grew significantly, thanks  to macroeconomic management that combined WT/TPR/M/265 
Page 10  
 
  prudence with pragmatism.  We introduced domes tic reforms to stimulate private investment, 
strengthen production, create a more attractive climate for business, promote the competitiveness of our economy and steadily improve our integration in the global market.  Throughout, we have 
respected our multilateral commitments and acted in accordance with the princi ples of the multilateral 
trading system.  We are in favour of an ever more  solid system, with clear disciplines and a more open 
and fairer market.  Accordingly, we are working towards the conclusion of the Doha Round as a 
decisive contribution to development.  We believe in trade, not as an end in itself, but as an essential 
tool in our quest for greater economic development and social equity.  WT/TPR/M/265 
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  III. STATEMENT BY THE DISCUSSANT (H.E. MR TIM YEEND, AUSTRALIA) 
46. Australia, although geographically distant from Co lombia, is a country that many people in 
our part of the world increasingly have an eye on for its increasing role and influence both regionally 
and globally.  In my role as discussant I hope to provide some context for Colombia's Trade Policy 
Review, and identify some questions and issues that the Colombian delegation and Members may 
wish to reflect upon.  The high degree of interest in Colombia's experience is underlined by the 
number of written questions submitted, from a wide ra nge of Members, and covering a wide range of 
topics. 
47. Colombia held its last Trade Policy Review in 2006.  Since then, it is clear that Colombia has 
continued its efforts to further liberalize an alread y open economy.  Tariff protection has continued to 
fall, now averaging 6.2%, and services have con tinued a liberalizing trend with this sector now 
accounting for some two thirds of Colombian GDP in  2011.  This movement in the direction of 
greater openness has been an important dimension over the last six years and I note Colombia's commitment for this to continue.  I am  sure further elaboration and confirmation of the 
positive directions of policy settings across a range of sectors will be of interest to participants 
in this TPR. 
48. Colombia's ongoing efforts to harness trade liberalization for economic development and 
poverty reduction should be welcomed.  Both th e report from Colombia and the report from the 
Secretariat make clear that these efforts are gene rating results.  Between 2005 and 2011, per capita 
GDP more than doubled from US$3,417 to US$7,236.  Accompanied by complementary domestic policies, this GDP growth has contributed to sign ificant decline in poverty, falling from a 45% at the 
national poverty level to 36% by December 2011. 
49. The six years since Colombia's last TPR show that rapid growth in international goods and 
services trade has been an important contributor to  Colombia's economic growth.  Both exports and 
imports approximately doubled in US dollar terms between 2005 and 2011.  Colombia's report states 
that trade has been among the most important drivers of new jobs, with trade contributing to 26.4% of 
new jobs created in 2011.  Given the critical im portance of trade in job creation, it would be 
interesting to hear some further elaboration on this  by the Colombian delegati on, and any perspectives 
on how it will continue to maximize the job-creating impact of trade. 
50. Colombia's trade policy is accompanied by a lib eral investment regime, which has facilitated 
a surge in foreign direct investment.  Between 2006 and 2011, FDI more than doubled 
from US$6.056 billion to US$13.234 billion.  The impr ovement in Colombia's sovereign debt rating 
is another sign of the market confiden ce in Colombia's economic prospects. 
51. In its report, Colombia notes that it gives high priority to fostering economic growth and 
productivity increases through five so-called "l ocomotive sectors" - agriculture and rural 
development;  housing and friendly cities;  mining and energy;  transport infrastructure;  and new 
innovation-based sectors.  These sectors are seen as holding a high potential for contributing to 
poverty reduction and job creation. 
52. Given the importance attached by all Member s to the poverty reduction and job creation 
where trade can play an important role, Colombia's approach in this area is notable.  It is also 
interesting that Colombia is pursuing its strategy to increase growth, employment and poverty reduction through these "locomotive sector s" in the context of an open trade policy 
that exposes them to international competition.  According to its report, Colombia's approach 
to increase growth in these sectors is through gr eater competitiveness, innovation, and improvements 
to the business environment.  In this area, Colomb ia's jump of eight rankings in the World Bank's 
Doing Business 2012  index is a positive sign. WT/TPR/M/265 
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  53. And it is notable that the steady trend of ec onomic development and trade openness have been 
accompanied by sound economic decision making to  ensure that domestic policy settings help 
contribute to economic growth.  Across a range of sectors we have seen positive new instruments such 
as the Productive Transformation Programme in 2010;  and updated rules on the protection of competition introduced in 2009;  as well as the setting up of a single window facility for imports and 
exports and a risk analysis system that  has reduced the frequency of inspections. 
54. Although the overall trend is welcome, both re ports show that not all sectors are equally 
exposed to international competition, and I hope that Co lombia will continue its efforts in this regard.  
For example, in agriculture - one of the "locomotiv e sectors" - tariff protection is considerably higher 
than in other sectors, at an average of 18.3% in  2010, although this has fluctuated slightly in 
recent years.  A range of policy responses will be necessary to continue improving the 
competitiveness and diversity of Colombia's agricu lture sector, including greater access to financial 
services and improved infrastructure.  However, continued liberalization of its agriculture sector would also make a positive contribution. 
55. Colombia's export trade is quite concentrated , both in terms of products and destination 
markets.  Almost three quarters of Colombia's e xports are mining and energy products - including 
petroleum and petroleum products, coal, ferro-nickel,  gold, and emeralds.  Although growth in these 
products has dominated overall export growth, an d the share of manufacturing and agricultural 
exports in total trade has decreased since 2005, it is  important to note that other sectors' export values 
have also grown, albeit at a more modest rate than for mining and energy. 
56. Colombia has identified a diversification of e xport markets as a strategic goal for its trade 
policy.  Of course, this is a goal shared by many WTO Members.  Given this, I am sure that 
Colombia's experience, and Colombia's plans, will be  of interest to other Members.  The centrepiece 
of Colombia's strategy to find new export mark ets is an ambitious negotiating programme of 
free trade agreements.  Its report notes that by 2014, Colombia aims to complete the negotiation 
of nine new FTAs, adding to the existing nine agreements. 
57. At the same time, Colombia has made a clear st atement in its report of the value it places in 
the multilateral trading system.  From personal e xperience this comes as no surprise with the 
Colombian delegation in Gene va under Ambassador Muñoz Gómez playing an active and 
constructive role in trying to move work forward.  For instance, Colombia's role in the Cairns Group 
advancing the cause of agriculture and developm ent is one with which I have close personal 
experience, but their role and influence is eviden t in almost all areas of the WTO's negotiating and 
regular work programmes. 
58. In the long term, with such an ambitious FTA  negotiating programme, it will be important for 
Colombia to continue targeting its negotiating partners carefully, ensuring that there is a strong 
economic case for entering into each FTA.  As for a ll Members, its FTAs will have to lead to genuine, 
comprehensive trade liberalization - we have ev ery expectation that this will be the case.  
The institutional burden created by implementation of existing and new FTAs will also need to be 
kept in mind.  We will also look forward to Colo mbia's ongoing, active and creative participation in 
discussions here in Geneva. 
59. Colombia's experience to date shows that it is possible to both pursue a comprehensively 
liberalizing FTA agenda, while striving to strengt hen the multilateral trading system and taking a 
creative approach to WTO negotiations. 
60. The Secretariat report identifies some specific ar eas of Colombia's trade policy where there is 
room for improvement, and Members' questions also show an interest in discussing these areas.  I do not intend to go into specific details, as Members have done so in their written questions and will do  WT/TPR/M/265 
 Page 13 
 
 
  so in their statements today.  Of course Colombia 's responses will be equally of interest, and well 
scrutinized, I am sure. 
61. However, one area I would like to highlight is th at the clarity and transparency of non-tariff 
measures across sectors may be uneven.  In investment and tourism, for example, there appears to be transparent regulation that facilitates potential fore ign business.  However, there appear to be other 
areas, including conformity assessment with technical regulations, non-automatic import licensing, 
and the application of SPS measures, that are less  transparent, and quite complex.  Notwithstanding 
some improvements that have been made, the wh ole area of non-tariff measures on which further 
focus might be required. 
62. While recognizing there are limits to how much some of these measures can be simplified, 
streamlining them could facilitate gr eater trade.  This is reinforced  by perception-based surveys - for 
example, the World Economic Forum's 2012 Globa l Enabling Trade Report showed that businesses 
see tariff and non-tariff barriers as the most problema tic factor for importing into Colombia.  This 
may be an area that Colombia could reflect on furthe r.  For example, it may wish to consider whether 
some SPS and TBT measures continue to be necessar y.  I also encourage Colombia to continue 
notifying relevant measures to the approp riate WTO bodies to maintain transparency. 
63. Colombia has good cause to be proud of its economic achievements - including in 
the six years since its last review.  It has maintain ed an ambitious pace of trade liberalization, and 
continues to make concerted efforts to impr ove its economy's competitiveness.  I hope that 
the Colombian delegation can take some useful input  from Members into this ongoing effort, and that 
they will be able to present an even more successful and open trade policy regime to WTO Members 
at their next review.  I also hope that the member ship as a whole can draw some useful lessons from 
Colombia's experience - I know that I certainly can. WT/TPR/M/265 
Page 14  
 
  IV. STATEMENTS BY MEMBERS 
HONG KONG, CHINA 
 
64. Colombia is a valued trading partner of ours .  Merchandise trade between Colombia and HKC 
has grown by an average of almost 15% per annum since 2007 and amounted to US$358 million 
in 2011.  We are encouraged by our harmonious bila teral trade relations, and are confident that there 
is good potential for further trade growth and mutual collaboration between our two economies.  
65. Turning to some specific aspects of Colombia's trade policy, we note that, as a result of its 
tariff reform in 2011, Colombia has considerably reduced its tariffs, partic ularly on industrial goods.  
The average MFN applied rate has dropped from 12% in 2006 to around 6% in August 2011.  The 
average tariff for non-agricultural products fell from more than 11% to about 5%.  In addition, there 
has been a significant increase in th e percentage of duty-free tariff lines and also a very significant 
reduction in the number of tariff lines subject to international tariff peaks.  We would like to 
commend Colombia's initiatives in this regard.  Nevertheless, we would encourage Colombia to 
accelerate its trade liberalization efforts by re ducing the large gap between its average bound 
rate (15%-227%) and applied rates (6.2%) and making permanent the temporary tariff reductions after 
their scheduled expiry in August 2012, so as to enha nce the predictability of its trade regime over the 
longer term. 
66. The agriculture sector is of key importance to the Colombian economy on account of its 
contribution to GDP (6.5%), to employment (18.1%) and to exports (12.4%).  In order to maintain food security and price stability, Colombia offers hi gher protection to its agricultural sector than to 
other sectors.  The average applied rate for agricu ltural products in 2011  is 14.5%, considerably 
higher than that for manufactured products (4.9%).  A Price Band System is also applied to around 160 tariff lines of agricultural products to exer t a stabilizing effect.  While we appreciate its 
concerns behind protecting the sector, we encourage Co lombia to step up its efforts to liberalize the 
agricultural sector. 
67. We note that trade in services accounted for some  two thirds of Colombia's GDP in 2011, and 
services imports and exports both grew between  2005 and 2010.  We commend Colombia on its 
continuous effort to liberalize trade in services.  The restructuring of its telecommunication services 
regime to promote investment and foster greater  competition was one of the significant measures 
undertaken during the review period.  We would like to encourage Colombia to liberalize its services 
trade regime further, for inst ance, by lowering the nationality requirements and relaxing the 
requirements for commercial presence in certain serv ice sectors, especially finance, logistics and 
maritime transport. 
68. Regarding trade facilitation, we appreciate Colombia's simplification of its customs and 
administrative procedures as well as the set-up of the Single Window for Foreign Trade (VUCE).  We however note that importers need to engage a customs agent for importation of goods with a 
free-on-board value exceeding US$1,000.  Importers registered as "regular customs users" do not 
have to use a customs agent but they are required to meet certain registration requirements.  We would encourage Colombia to continue to stream line its customs procedures, provide more trade 
facilitation measures and consider removi ng the importer-registration requirements. 
69. On customs valuation, we are pleased to not e Colombia's elimination of estimated and 
indicative prices for most products in 2010.  That sai d, we remain concerned that Colombia continues 
to use reference prices as control parameters fo r some 50 products for checking the declared import 
values during customs inspection.  We would like to urge Colombia to eliminate the system of 
reference prices for all products.  WT/TPR/M/265 
 Page 15 
 
 
  70. Last but not least, as is very apparent, Colombia plays a very active part in our work.  
We appreciate Colombia's substa ntive initiatives and contributions to many areas, both Doha and 
non-Doha, and we look forward to continuing to work  closely with its delegation in charting a way 
forward for the Doha Round and further strengthening  the multilateral trading system, on which we so 
closely depend. 
AUSTRALIA 
 
71. Australia congratulates Colombia on the progress it has made in creating an open and 
competitive trade regime by increasing the internationalization of the Colombian economy.  Australia welcomes the sound and prudent economi c management which helped the Colombian 
economy avoid slipping in to recession during the global  financial crisis in 2008-2009 and allowed for 
a strong recovery in 2010-2011.  The increasing resi lience of the Colombian economy - on the back of 
a more open trade and economic regime  - is particularly noteworthy. 
72. Colombia has long been recognized as a strong supporter of the multilateral trading system 
and is a very active participant in all part s of the WTO agenda.  Australia welcomes 
Colombia's commitment to pursuing global trade reform through the WTO, including its positive 
contribution to efforts to fi nd new pathways for reform. 
73. Australia greatly appreciates Colombia's active pa rticipation in the WTO, particularly through 
the Cairns Group, where Colombia continues to be  a champion of global agricultural trade reform.  
Australia has also cooperated closely with Colombia  recently in relation to the services negotiations - 
as proponents of disciplines on domestic regulation - as well as the trade and environment 
negotiations, where both countries continue to pu rsue a positive outcome on the liberalization of 
environmental goods and services. 
74. Australia also recognizes the positive contributio n the delegation of Colombia makes as an 
active Member of a broad range of WTO Committees .  The Secretariat report highlights a number of 
positive developments in the period under review , including that Colombia's GDP per capita has 
almost doubled and that Colombia has maintained strong fiscal discipline.  In the face of a global 
economic downturn, these are important and significant achievements. 
75. Economic and trade relations between Australia  and Colombia have also been growing 
strongly.  In 2011, bilateral trade grew by about 9% ov er 2010.  Over the last five years, bilateral trade 
has grown by 11.5% annually on average. 
76. Australia commends Colombia for its broadly ope n trade and investment policies, including 
reducing the average tariff rate since the last revi ew from 12% to 6.2%, and reforming its customs and 
administrative procedures. 
77. Australia suggests Colombia give consideration to the benefits it could obtain from further 
reductions in tariff rates, particularly in th e agricultural sector.  Colombian companies and 
Colombia's trading partners could also benefit fro m streamlining of regulatio ns and the removal of 
non-tariff restrictions, including regist ration and import licensing requirements. 
78. Australia encourages Colombia to continue to wo rk within regional and international forums 
to prevent any increase in common external tariffs.  In conclusion, Australia congratulates Colombia 
on its achievements during the period under review a nd supports its ongoing efforts to liberalize and 
to develop its economy. WT/TPR/M/265 
Page 16  
 
  ARGENTINA 
 
79. Argentina is delighted to be participating in this latest TPR of Colombia at a time when 
bilateral relations between the tw o countries have been given a ne w impetus following the signature, 
in Buenos Aires, of the Memorandum of U nderstanding of Integr ation and Cooperation 
on 18 June 2011.  This "new generation" agreement,  which covers all aspects of the bilateral relations 
between the two countries, contains provisions to help enhance and activate the relationship, for 
example, periodic meetings between the President s, meetings between the Ministers of Foreign 
Affairs and other Government ministers, and the setting up of commissions to oversee political, 
economic and trade matters. 
80. I would like to use this occasion to make a fe w brief remarks concerning Colombia's trade 
policy and its trade relations with Argentina.  Firs t of all, I would like to congratulate Colombia for 
achieving an annual GDP growth rate of approximate ly 5% during the review period, which includes 
the financial crisis.  As a result, GDP per inhabita nt has risen rapidly, and Colombia is currently 
ranked eighth in Latin America in terms of per ca pita GDP.  This growth was accompanied by a 
doubling of imports and exports. 
81. Colombia's trade regime is essentially open, w ith an average tariff th at has been on the 
decrease.  Since the last  Trade Policy Review conducted in 2006,  Colombia has continued steering its 
trade policy towards greater openness, for example by negotiating preferential trade and investment 
agreements with the world.  I would like to stress that this opening-up process, which goes beyond 
Colombia's WTO obligations, is taking place wit hout any loss of trade policy space at multilateral 
level. 
82. Colombia's current average tariff stands at about 6.2%.  However, roughly 81% of the tariff 
universe is bound at rates between 30% and 35%, in  some cases reaching 104% for certain industrial 
goods, in a context in which bound tariffs generally range from 15% to 227%.  We also note that 
Colombia has an automatic and non-automatic im port licensing system.  All of this provides 
Colombia with the necessary flexib ility, at least at the multilateral level, to meet its economic 
development and growth needs. 
83. We note, however, that agricultural products are subjected to higher tariffs than the 
manufacturing sector.  In fact, tariff bindings in the agricultural sector can be as high as 227%.  
The sector also benefits from programmes involvi ng domestic support, preferential access to credit 
and debt refinancing, subsidization of agricultural insurance and mitigation of exchange rate risk.  
Colombia uses other mechanisms to help producers c ope with fluctuating world prices, such as price 
stabilization funds.  We also read in the Secretar iat report that some anti-competitive agreements are 
allowed in the agricultural sector.  Finally, we note that Colombia continues to use the Andean Price 
Band System to apply import duties on a number of agricultural products, duties which vary 
according to the international prices of the products co ncerned.  In short, we hope that Colombia will 
be able to continue to open its agricultura l market to market rules and competition. 
84. Let me now turn briefly to our bilateral trade.  Economic Complementarity 
Agreement (ECA) 59, concluded in the framework  of the LAIA between the States parties to 
MERCOSUR and Colombia, Ecuador and Venezuela,  has been in force between Argentina and 
Colombia since 2005 and provides the main framework for bilateral economic and trade relations.  In 
this context, the Commission for Economic Relati ons, Investment, and Bilateral Trade Monitoring 
was set up in August 2011 to help solve mutual con cerns and strengthen trade in the interest and for 
the development of both countries. 
85. Argentina ranks seventh among Colombian expor t destinations in Latin America and the 
Caribbean, and in fact third in the region as country  of origin for Colombia's imports.  Moreover,  WT/TPR/M/265 
 Page 17 
 
 
  Colombia is among the five leading destinations for Argentine exports to Latin  America.  Colombia's 
main exports to Argentina are coal and petroleu m products, plastic products, chemicals and paper, 
while Argentina's main exports to Colombia ar e maize, flour, sorghum, pharmaceutical products, 
automobiles and various industrial inputs. 
86. Colombia is one of the founding Members of the WTO and an important participant in the 
multilateral trading system in this Organization.  Since 1986, Colombia and Argentina have been 
members of the Cairns Group, and together we suppor t a fair and market-oriented agricultural trading 
system, in which agricultural goods receive th e same treatment as other goods, including the 
dismantling of distorting subsidies, tariff cuts  and the elimination of non-tariff barriers. 
87. Colombia and Argentina have worked together in the WTO on various issues, including joint 
proposals in the negotiations on fisheries subsidies,  agriculture, industrial pr oducts, trade facilitation 
and services as well as in the area of sanitary a nd phytosanitary measures, intellectual property, and 
trade and the environment.  We also share many interests at the multilateral level concerning, for 
example, the pivotal role of the development dime nsion and the relevance of the WTO.  I would like 
to conclude by stating that we are confident that  we shall continue to work with Colombia on these 
and other topics with a view to an open, transpar ent and rules-based multilateral system that favours 
development. 
SEPARATE CUSTOMS TERRITORY OF TAIWAN, PENGHU, KINMEN AND MATSU 
 
88. Since the last review in 2006, although affected by the financial crisis, its GDP grew at an 
average annual rate of 4.8% in 2005-2011, higher than the 4% average growth for the whole 
Latin America and the Caribbean region over the same period.  And the rise in the CPI remained 
within the inflation target band of 2% to 4%.  FD I is mentioned as being a major driving force behind 
Colombia's positive economic perfo rmance and sound fiscal position. 
89. As for the fiscal and financial aspects, even though the deficit on its ba lance of payments has 
deteriorated somewhat, the Colombian Government has still managed to stabilize its finances, and to 
establish policies to control government expend iture and improve the tax collection system. 
90. In terms of Colombia's trade policy regime, it is important to recognize that trade and 
investment plays a really crucial role in its economy, representing over 60% of the total GDP.  
Colombia is seeking to expand its trading opportu nities through the negotiation of bilateral and 
regional agreements.  We commend Colombia on the effo rts made over the last few years to adjust its 
tariff policy, promote investment and facilitate trade,  and its trade policy is formulated in compliance 
with international commitments, incl uding those associated with the WTO. 
91. However, a few aspects of Colombia's trade practices do remain a source of some concern 
to us.  For example, Colombia continues to use re ference prices as parameters for checking the value 
reported by importers during the customs inspection pr ocess.  Besides, non-tariff restrictions related to 
import registration and licensing requirements, and th e trade regime is also somewhat complex as 
noted in the Secretariat report.  We are looking forward to see further progress on these matters in due 
course. 
92. In the context of the WTO work, here in Gene va, we enjoyed very close working relationship 
with the Permanent Mission of Co lombia to the WTO under the leadership of Ambassador Eduardo 
Muñoz Gómez.  We are both Members of the Group of the Friends of the System and Friends of 
Anti-Dumping Negotiations, and we are both strong supporters of all the efforts to bring the 
negotiations to an early and balanced comp letion.  Furthermore, I specially noted 
Vice Minister Duque's earlier statement on the impr ovement of Colombia's government procurement WT/TPR/M/265 
Page 18  
 
  regime.  As Colombia is an observer in the plurila teral GPA, we would really like to see it become a 
full signatory to the Agreem ent in the near future. 
93. I would like to point out that the volume of trade between us has been increasing steadily 
since 2006, and in fact Colombia is our fourth larg est trading partner in Central and South America.  
While, of course, we welcome this development, at the same time we believe that higher predictability 
at policy and administrative levels on both our parts is  essential if there is to be further expansion in 
the future. 
UNITED STATES 
 
94. Today's review comes at a pivotal moment in the US-Colombia trade relationship, just weeks 
after the entry into force of our bilateral free trad e agreement.  US trade w ith Colombia has already 
shown dramatic increases over time, with both exports and imports more  than doubling since 
Colombia's last WTO Trade Policy Review in 2006.  Looking back, on the one hand, the United States' Andean Trade Preference Act (ATPA)  served to stimulate growth in much of that 
trade, offering duty-free access beyond what was available under the US Generalized System of 
Preferences.  However, the new bilateral free trade agreement went even further, helping to create a 
long-term relationship that provides confidence and stab ility to investors.  We fully anticipate that our 
new agreement will not only greatly intensify our trad e and investment relationship, but will also push 
our broader relationship towards its full potential. 
95. Colombia is currently our 25
th largest goods trading partner with US$37.4 billion in total 
two-way goods trade during 2011.  The United St ates imported a total of US$23.1 billion in goods 
from Colombia in 2011, an increase of 47.6%  from 2010.  US goods exports to Colombia 
totalled US$14.3 billion in 2011, an 18.7% increase from 2010.  The US goods trade deficit with Colombia was US$8.8 billion in 2011. 
96. Of course, Colombia's trade initiatives have not just focused on its trade relationship with 
the United States.  Colombia has continued the arc of its transformation from a more inward-looking 
economy to one that embraces trade and economic relationships around the world.  We are grateful 
for Ambassador Eduardo Muñoz's leadership in Ge neva on a range of issues.  Colombia's trade 
negotiators are constructive contributors to work in the WTO while also seeking market-opening deals 
in the Western Hemisphere, Europe, the Middle East, and Asia.  Some of those deals are in force, 
some will be soon, and others are at different  stages of negotiation.  But the key is that 
the Colombian Government sees the potential of expa nded trade to accelerate its development and lift 
more people out of poverty. 
97. We commend Colombia for pursuing a number of pro-trade domestic policies that enhance its 
competitiveness and foster an improved business climate.  Major security improvements have made much of the progress possible, but another significant contributor has been sound fiscal and macroeconomic management policies that allowed Colo mbia to achieve investment grade level credit 
ratings.  Conservative lending practices by Colombia's financial institutions lessened the impact of the 
global economic crisis.  Colombia's efforts to faci litate small business formation have helped draw 
tens of thousands of people into the formal sector .  The government has worked to increase regulatory 
transparency and accountability.  The OECD Investment Group has recognized the exceptional 
progress Colombia has made in fostering a sound i nvestment climate.  We also commend Colombia 
on taking the steps necessary to become the 74
th member of the WTO Information Technology 
Agreement. 
98. It is worth noting that the Colombian Governme nt has also taken action to promote social 
justice and heal many of the scars of the past.  It has enacted landmark legislation to compensate 
victims of violence and to restore land to displ aced persons.  It has enacted and begun to enforce  WT/TPR/M/265 
 Page 19 
 
 
  significant new disciplines to ensu re respect for labour rights and has invited an increased 
ILO presence.  All of these actions are building bl ocks for generating social harmony and creating 
conditions for long-term growth and an emerging middle class. 
99. Challenges for Colombia do remain.  Transportation infrastructure deficiencies can slow 
development and hinder Colombia's efforts to im prove its competitiveness.  However, we recognize 
that the Government is devoting significant resource s to addressing this concern.  The Government of 
Colombia will also need to work with some of its less competitive sectors to help them adapt to the 
new environment presented by Colombia's many fr ee trade agreements, shifting production in some 
cases to take advantage of new opportunities.  Colo mbia will need to make continued progress with 
respect to the enforcement of intellectual prope rty rights, including by increasing the number of 
investigations and enhancin g coordination of enforcement efforts among its agencies. 
100. In conclusion, the United States appreciates the oppor tunity to participate in this review.  It 
affords us an occasion to celebrate the extraord inary strides Colombia has achieved to address 
impediments to its progress and to truly emerge  onto the world stage as a highly engaged and 
constructive player within the re gion as well as the broader multila teral trading system.  We look 
forward to continued close cooperation with Co lombian authorities to deepen our cooperation 
bilaterally, in regional forums, and in the WTO. 
CHINA 
 
101. We note with pleasure that, during the re view period, the Colombian economy has 
successfully weathered the global financial and economic crisis and enjoyed relatively high and 
sustained growth.  According to the Secretariat report, Colombia's GDP, GDP per capita, import, 
export and FDI all showed dynamic increase and doubled in the review period.  At the same time, the 
unemployment rate as well as the poverty rate fell a nd the inflation rate was well maintained at the 
lowest level in the region.  As the Government  report stated, these achievements "provide clear 
evidence of Colombian Government's commitment to boos ting the growth rate in order to create more 
jobs, reduce poverty and bring greater prosperity to all Colombians".  We hope that the policy of 
"Prosperity for All" can help Colombia to c ontinue its remarkable economic performance. 
102. With regard to trade and investment policy, Colombia has maintained a substantially open 
trade regime and developed a more predictable and competitive business environment.  We commend 
the measures taken by Colombia, including reducing the average applied tariff by 50% and simplifying its customs and administrative procedures,  to further liberalize and facilitate trade.  We 
are also impressed by the determination of th e Colombian Government to enhance investor 
confidence, support innovation and knowledge-intensi ve economy and improve participation in the 
global and regional value chain.  Its tremendous effort s in this area have obviously led to the surge of 
foreign investment. 
103. We appreciate Colombia's firm commitment to the multilateral trading system and its active 
role in the WTO.  Its valuable contribution to this Organization is reflected in many aspects, including 
its active participation in the DDA agriculture ne gotiation, playing a leading role on the accession 
issue and last but not the least, providing high-quality Chairs for various WTO bodies, including H.E. Mr Muñoz of this Body. 
104. On the bilateral side, China and Colombia are im portant trading partners to each other, with 
China being Colombia's second largest trading partne r.  During the review period, we are glad to 
witness the sound performance of our bilateral trade on both exports and imports despite the negative 
impact of the global recession, which shows the complementary and interdependent nature of our two economies. WT/TPR/M/265 
Page 20  
 
  105. Bilateral trade between China and Colombia increased by 50% annually from 2005 to 2008.  
Although 2009 saw a negative growth due to the financial crisis, it rec overed strongly in 2010 
and 2011 and grew by 75% and 39% respectively year  on year.  According to our Customs statistics, 
during the first quarter this year, two-way trad e exceeded US$2 billion, representing an increase 
of 33% over the same period of last year, in which the export from Colombia jumped by 78%.  
China has now become the leading market for Colomb ia in Asia with our share in its total exports 
tripling during the review period.  At the same ti me, as the Secretariat report indicated, China's share 
in Colombia's imports also doubled. 
106. On investment, China's total direct investment in Colombia as of 2011 was 
only US$36 million, so for the moment China is far from an important player in the growth 
of Colombia FDI stock.  But we believe that the great potentiality between our two countries on FDI 
can be further tapped in the future.  The main se ctors for investment indicated by the Colombian 
Government report are where Chinese i nvestors could play an active role. 
107. As the Secretariat report indicated, Colombia still applied a number of trade protection 
measures on its manufacturing sector.  We have a particul ar concern on this issue.  We regret to find 
that all 12 Colombian anti-dumping measures in force as at 13 December 2011 were applied to 
imports from China.  We urge Colombia to avoid abuse of trade remedy measures. 
KOREA, REPUBLIC OF 
 
108. We welcome this TPR as a good opportunity to go beyond an analysis 
of Colombia's economic performance and trade polic ies during the period under review, and to reflect 
both on lessons learned and potential challenges identified for all Members as illustrated 
by Colombia's experience.  This is especially the case, given Colombia's  active role in this 
Organization and the multilateral trading system as well as its strong commitment to an open 
trade regime. 
109. We are pleased to note that Colombia and Ko rea have traditionally maintained close and 
amicable political and economic relations.  This year marks the 50
th anniversary of diplomatic 
relations between Colombia and Korea.  During hi s three-day State visit to Colombia which was 
concluded just yesterday, our President Lee Myung-bak reaffirmed the "blood ties" between the two countries dating back to the Korean War in the early 1950s.  He conveyed the Korean people's 
sincere gratitude to the Colombian war veterans w ho traveled half way around the world and put their 
lives at risk to defend our then little-kno wn, far-away nation across the Pacific. 
110. Indeed, it is a source of great satisfaction that, on the economic front, trade and investment 
between our two countries have increased significa ntly with bilateral merchandise trade reaching 
approximately US$2 billion in 2011.  Korea's investment in Colombia had increased to over US$51 million in 2011.  Both Colombia and Kor ea are keen to raise their economic partnership 
to new heights. 
111. As indicated earlier this morning by Vice Minister Duque, it is against this backdrop that our 
two trade ministers signed yesterday a joint declar ation on the conclusion of the Korea-Colombia 
FTA negotiations on the occasion of the summit mee ting held between our two leaders in Bogota.  
We welcome the declaration and very much hope and expect that the bilateral FTA, aimed at 
achieving a comprehensive and high-quality trade d eal while fully respecting WTO standards, will 
help deepen the already close political and economic ties between the two countries. 
112. Turning to Colombia's overall economic perform ance, it is commendable that Colombia has 
maintained sound economic growth during the period under review.  As widely noted, 
Colombia's GDP grew at an annual average ra te of 4.8% from 2005 to 2011 and reached 5.9%  WT/TPR/M/265 
 Page 21 
 
 
  in 2011, exceeding the average rate for Latin Am erica and the Caribbean, thanks to the prudent 
combination of countercyclical fiscal and monetary policies and strong export growth. 
113. It is particularly noteworthy and applaudabl e at this time of global fiscal turmoil that 
Colombia has committed itself to maintaining fiscal sustainability and introduced a fiscal regulation 
and other important measures in 2011 to reduce its public debt by enhancing public sector discipline 
and to better manage countercyclical fiscal policies. 
114. As far as Colombia's trade policies and practices  are concerned, we would like to recognize 
and praise Colombia's continued efforts to furthe r liberalize its substantially open trade regime, 
including a considerable reduction in the average MF N tariff during the review period.  At the same 
time, we would also like to encourage Colombia to continue to address the concerns of other 
Members, particularly in the areas of non-tariff measures, such as import licensing requirements and 
conformity assessment and certification schemes, and protection of IPRs including trademarks. 
115. We note that Colombia's national development plan for the period from 2010 to 2014 is 
introduced in its Government report, and the title of th e plan is "Prosperity for All".  We believe that 
"Prosperity for All" should also be the agenda of th e Members in this house.  We very much hope that 
Colombia, as one of the most active players in the WTO, will continue to play an important role in 
bolstering prosperity for all the WTO Members wi th a stronger multilateral trading system and the 
successful conclusion of the DDA negotiations.  Vice Minister Duque's reaffirmation this morning of 
Colombia's unswerving commitment in th is regard is very encouraging. 
CANADA 
 
116. Colombia has successfully managed to change its  trade regime, creating a modern, liberal and 
open market economy.  It has introduced economic and legislative reforms which have continuously 
sent positive signals to the international community .  The Colombian Government is pursuing its 
efforts to promote economic growth by improving security in the country and improving consumer, 
business, and investor confidence.  In the Wo rld Bank's "Doing Business" report, Colombia 
systemically ranks among the top ten countries as re gards regulatory reforms, and also ranks among 
the top 12 countries in the world to have most improved the ease of doing business.  However, a number of regulatory challenges s till remain, in particular as rega rds environmental assessments and 
the granting of permits in the mining industry, which remain significant obstacles for international investors. 
117. As Colombia rapidly expands its portfolio of bilateral commercial agreements to bolster its 
international presence, develop its economy, and m ove beyond its traditiona l exports, Canada is 
honoured to be among the 13 trading partners with which Colombia has concluded free trade 
negotiations.  The Canada-Colombia bilateral tr ade relationship has grown significantly over the 
past five years, increasing 38% to US$1.56 billion in 2011 (2007-2011).  Colombia is the fifth largest 
destination for Canadian direct inv estment in Central and South Americ a.  The total stock of Canadian 
direct investment in Colombia reached nearly US $1.7 billion at the end of 2011, which represents an 
increase of 127% since 2007. 
118. Canada follows with interest Colombia's pr ogress in the development and implementation of 
economic and legislative reforms aimed at enhancing the competitiveness of the economy, strengthening of the county's economic and legal st ability, and promoting investment.  Canada also 
supports Colombia through its US $18 million Canada-Americas Trade- Related Technical Assistance 
program (CATRTA) which helps partner countries in  the Americas, such as Colombia, to maximize 
the opportunities and benefits of their bilateral FTAs with Canada. WT/TPR/M/265 
Page 22  
 
  119. Colombia's ongoing reforms, efforts to mini mize legal risks, openness towards foreign 
investment, particularly for its extractive sectors, and commitment to fiscal responsibility have generated positive interest from Canadian investors.   We note that Colombia regained investment 
grade credit-rating status in 2011 and has been upgrad ed, since February of this year, from stable to 
positive by Dominion Bond Rating Service. 
120. Canada appreciates the Government of Co lombia's strong commitment to establishing 
regulations that are science-based and consistent  with internationally established guidelines.  
Canada was pleased when Colombia became the first country in Sout h America to re-open its market 
to Canadian beef and cattle in 2010. 
121. Canada commends Colombia's undeterred commi tment to remaining a liberal, open-market 
economy, particularly in these challenging economic ti mes.  Canada supports the recent efforts of 
Colombia, along with the other members of the P acific Alliance, to expand and liberalize their 
economies, to remove barriers and e xpand trade across the Pacific region.   In this regard, Canada will 
continue to seek alliances with like- minded partners such as Colombia. 
122. Canada would also take this opportunity to  recognize Colombia's strong support for the 
multilateral trading system as eviden ced by their active engagement in work post-MC8 to strengthen, 
streamline and operationalize the 2002 guidelin es for the accession of LDCs to the WTO. 
MEXICO 
 
123. Colombia is a strategic trading partner for Mexi co.  Both countries are convinced that trade 
fosters development, and have acted accordingly.   With Peru and Chile, we have embarked on a 
large-scale economic integration proj ect known as the Pacific Arc initiative. 
124. Free trade between Mexico and Colombia began with our bilateral agreement in 1995, and 
has considerably expanded in recent years.  Our b ilateral trade has grown 15-fold since the agreement 
entered into force - from US$430 million to US$6.4 billion, making Colombia our tenth trading partner in the world and second in Latin America. 
125. We would like to highlight the strong perfo rmance of the Colombian economy over the last 
six years.  A combination of countercyclical fis cal and monetary policies and the good performance of 
certain export products enabled ec onomic growth to remain positive in 2009, after which the economy 
grew at a highly respectable rate of 4% in 2010 and 5.9% in 2011. 
126. With this economic expansion in Colombia, per capita GDP doubled between 2005 and 2011, 
when it reached 7,500.  Meanwhile,  the poverty i ndex decreased.  However, income in Colombia 
remains unfairly distributed.  As with many other Latin American countries, fair distribution of the 
benefits of economic growth rema ins one of its main challenges. 
127. Another major challenge facing Colombia in its efforts to maintain economic growth is the 
diversification of its exports, both geographical a nd in terms of products.  The mining sector accounts 
for 65% of its exports, while agriculture contributes more than one fifth. 
128. At the same time, we welcome the reform introdu ced by Colombia in an effort to reduce tariff 
dispersion and its anti-export bias, thanks to wh ich the average MFN tariff fell from 12% in 2006 
to 6.2% in 2011, even if the liberalization of agriculture has fallen behind. 
129. On the trade facilitation front, we welcome th e introduction of the Single Window and the 
risk-analysis system which have enabled Colombia to reduce the frequency of inspections, and hence 
its transaction costs.  Colombia has also progr essed considerably on services, competition policy,  WT/TPR/M/265 
 Page 23 
 
 
  intellectual property, and government procurement.  All of these reforms testify to the fact that not 
only did Colombia use macroeconomic tools to stimul ate its economy, but it also made considerable 
progress on the regulatory front. 
130. Mexico is closely following what is happening  in Colombia with regard to technical 
regulations, an area in which we have specific conc erns, particularly as regards the draft resolutions 
concerning the emission of contaminant sources for heavy vehicles with a diesel motor, concerns 
which we have already expressed before th e Committee on Technical Barriers to Trade. 
131. As regards sanitary and phytosanitary measures,  Mexico also has a number of concerns with 
respect to  decision-making under the Andean Comm unity, to which Colombia belongs, particularly 
when it comes to sanitary and phytosanitary risk an alysis.  These decisions have an impact on exports 
to Colombia by third countries, Mexico included.  We trust that our concerns will be given positive 
consideration. 
JAPAN 
 
132. Firstly, on tariffs and other charges, Japan appr eciates the efforts to reduce tariff rates almost 
by half from 12% in 2006 to 6.2% in 2011, partly  thanks to temporary tariff reductions, and also to 
participate in the Information Technology Agreemen t.  There is strong expectation that Colombia 
continues liberalizing trade further in this direction.   Having said that, our industry is concerned that 
VAT is charged in a different manner for importe d products and domestica lly manufactured products 
on specific products, including motor vehicles. 
133. Secondly, Japan welcomes the simplification of  customs and administrative procedures, 
including the establishment of a single window, and h opes to see its efficient operation.  However, the 
documentation for the importation of motor vehicl es was recently revised and became a significant 
burden to importers since it requires t echnical details of many parts of mo tor vehicles.  Since this is an 
equal burden for custom officials, this has caused de lay in importation.  Japan would like Colombia to 
review the necessity for such de tailed documentation requirements. 
134. Thirdly, in the area of technical regulations , Japan hopes that Colombia will harmonize its 
standards with international standards.  Among othe r things, Japan has specific concerns on technical 
standards of braking systems, and the draft resoluti on for public passenger service vehicles.  We have 
learned that the former is not clear and without su fficient lead-time, while the latter in reality would 
have the effect of excluding a s ubstantial number of  imported cars. 
135. In addition, Colombia plans to introduce very ambitious biofuel for motor vehicles 
from 2013.  However, the industry is not ready to produ ce vehicles run with such biofuel at this stage.  
Therefore, Japan urges Colombia to discuss this i ssue with the industry and to develop an appropriate 
time-frame for implementation. 
136. Furthermore, Japan would like to call Colombia's  attention to Article 22 of the draft Law on 
the National Transit and Transportation Code.  Th e article stipulates import quota restrictions and 
requires mandatory registration of imported vehi cles within 60 days after their importation.  
This could cause a problem with GATT Article 11 as well as constitute trade barriers.  Therefore, Japan urges Colombia to review this draft law with sufficient consideration in terms of its consistency 
with the WTO Agreement. 
137. Fourthly, with regard to government procurement, Colombia gives a preference margin to 
domestic suppliers and s uppliers using Colombian products.  Jap an hopes Colombia will reform its 
procurement system to make it non-discriminatory and take further steps to participate in 
the WTO Agreement on Government Procurement. WT/TPR/M/265 
Page 24  
 
  138. Fifthly, with regard to Intellectual Property Rights, Japan welcomes the establishment of the 
Intersectoral Commission on Intellectual Property (C IPI) and hopes to strengthen its enforcement as 
well as further legislative development.  In conc lusion, Japan would like to  reiterate its hope that 
Colombia develops its policy measures with closer  communication with the industry, and continues 
facilitating foreign trade. 
EUROPEAN UNION 
 
139. Colombia is a significant partner for th e EU, both bilaterally and regionally under 
the Andean Community, which Colombia is cu rrently chairing.  Bilaterally, the EU is 
Colombia's increasingly important investor and its sec ond trade partner.  Since the last TPR in 2006, 
our bilateral trade has doubled and amounted to €11.9 billion in 2011, with potential for further 
growth.  The latter will certainly be facilitated by the Multiparty Trade Agreement between Colombia, 
Peru and the European Union, initialled in March 2011 and to be signed today.  This Agreement 
covers trade in goods and services, investment, and also issues such as public procurement, 
intellectual property rights and technical barriers to trade.  In addition, it also includes commitments 
on the enforcement of labour and environmental sta ndards.  All these aspects are instrumental in 
supporting sustainable growth and development goa ls set by the Colombian Government in its 
national Development Plan 2010-2014 "Democratic prosperity for all" .  Also the EU's development 
assistance, currently set in Country Strategy Paper 2007-2013, with an allo cation of €163 million is 
tailored to support activities related to peace and st ability, justice and human rights, and trade and 
competitiveness. 
140. The Secretariat's report recognizes that Colo mbia has since 2006 continued to further 
liberalize its already open economy.  Colombia has successfully implemented several important 
political and economic reforms since la st review and regained its high gr owth with a 5.9% growth rate 
in 2011, accompanied by growing exports, inv estments and positive socio-economic indicators. 
141. The EU takes note of Colombia's steps in adva ncing bilateral and regi onal integration with 
Latin America and the Caribbean, as well as with the rest of the world, through the negotiation of 
several trade and investment agreements aiming to  increase external trade and foreign investment 
flows.  These steps are complementary to the multilateral trading system under the WTO umbrella, where Colombia - as committed supporter of the ope n trade and transparency - is an active and 
appreciated player. 
142. An important trade facilitation effort during th e period under review has been simplification 
of customs and administrative procedures and est ablishment of a single window for imports and 
exports.  However, in this context, the EU encour ages Colombia to continue with such efforts and 
address its remaining non-tariff restrictions, particul arly related to import registration and licensing 
requirements.  We also invite Colombia to cons ider removing the mandatory requirement for customs 
brokers.  In the EU's view, all these steps could be complemented by concluding trade facilitation 
negotiations at the WTO as soon as possible - a pro cess, where Colombia is playing a useful and 
constructive role. 
143. We welcome major institutional and regulatory reforms Colombia, as an observer to the 
Government Procurement Agreement, has undertak en in order to improve the efficiency and 
transparency of government procurement procedur es.  The EU would also like to commend Colombia 
for introducing the Competition Law, which in additi on to setting relevant rules for the protection of 
competition also created a new competition authority,  in place since 2009 (the Supervisory Authority 
for Industry and Trade).  We are also happy to read  from the Secretariat report that shortcomings in 
the functioning of this authority have been id entified in Colombia's National Development Plan.  WT/TPR/M/265 
 Page 25 
 
 
  144. We encourage Colombia to continue with ongoi ng institutional and legislative reform efforts, 
including effective implementation of its legislatio n.  Solid, transparent and predictable legal and 
institutional framework is essential for enhancing the overall business environment and thereby also 
investors' and traders' confidence. 
145. In spite of the fact that Colombia has continued to promote greater openness and reduced 
obstacles to foreign trade, some concerns remain.  We have addressed a number of these in detail in 
our advance written questions and would thus  hereby refer only to few such issues. 
146. The EU notes that there has been  an increase in the number of technical regulations for the 
automotive industry in recent years.  In order to  avoid additional administrative burdens, the EU 
invites Colombia to accept products already approved under the UNECE 1958 Agreement without 
any additional requirements, and to recognize t ests performed in internationally accredited 
laboratories. 
147. Secondly, Colombia currently maintains restric tions on imports of poultry and their products 
from some EU member states affected by avian in fluenza (bird flu) based on a risk-analysis study 
conducted at the Andean Community level which deviates from what the relevant international 
standards (by OIE) recommend.  Also, Colombia currently maintains restrictions on imports of beef 
and beef products from some EU member states , based on BSE grounds which deviate as well from 
the relevant standards and recommendations.  We call on Colombia to remove these import 
restrictions by fully aligning its measures with the relevant OIE recommendations, or to present a 
scientific justification for not doing so. 
148. Finally, the EU is also concerned about the f act that Colombia's alcohol production and sales 
monopolies ( Licoreras ) in several Departamentos  engage in market-distorting and anti-competitive 
practices that could constitute discrimination and viol ate anti-trust laws.  Furthermore, its excise duty 
system for spirit drinks is questionable under Colo mbia's national treatment commitments.  We call 
on Colombia to address these concerns. 
149. In conclusion, let me reiterate that the EU acknowledges Colombia for the progress it has 
made since the last review on several fronts.  We encourage it to further continue with its domestic, 
regional and multilateral efforts to facilitate trade,  increase investments, and grow its economy in a 
sustainable way. 
CHILE 
 
150. At the political level, bilateral relations be tween Chile and Colombia are going through a 
favourable period, essentially because the two countri es are bound together by their common visions 
and objectives.  We have four bilateral mechanisms , 11 treaties and agreements in various areas, and 
since 2009, a free trade agreement which has led to improvements in all trade disciplines.  
This agreement seeks to establish an enlarged ec onomic area for free movement of goods, services 
and investments, and coordinated action in inte rnational economic forums.  It is a free trade 
agreement of the latest generation, in keeping with  WTO principles, more far-reaching than anything 
that has been signed between two Latin American c ountries to date, which provides that all bilateral 
trade should be duty free as from this year.  Apart from improving all trade disciplines, the Agreement includes new provisions in the areas of labour, e nvironment, government procurement, cross-border 
services, temporary entry of business pers ons, electronic commerce and investment. 
151. In an effort to further build up political and economic relations, on 6 June of this year the 
presidents of Colombia, Mexico, Chile and Peru signed the Pacific Alliance Framework Agreement 
aimed at increasing trade flows, both domestic and with third countries, particularly in 
the Asia-Pacific region, by promoting the free movement of goods, services, capital and persons.  WT/TPR/M/265 
Page 26  
 
  This new framework, which provides for an open a nd inclusive space ready to take on new partners 
that share the same objectives, stands out as an id eal way of deepening the already excellent economic 
and trade relations between Chile and Colombia.  The next challenge in our bi lateral relations will be 
the negotiations on financial services, which we  hope to complete by the end of the year. 
152. Trade between the two countries has risen shar ply over the past decade, from US$432 million 
in 2001 to US$3.158 billion in 2011.  In fact, with a 38% increase from 2010 to 2011, it reached a 
historical peak (with a surplus for Colombia). 
153. At the same time, Chilean investors were incr easingly present in Colombia in different areas 
of business.  Colombia is the fourth destination for Chilean direct capital investment in the world.  For 
the period 1990-2011, Chile's cumulated investme nts in Colombia reached US$8.903 billion or 14.2% 
of total investments abroad.  Chilean direct ca pital investment essentially focuses on generation and 
distribution of electricity, financial and health service s, ship transport, retail and biofuel projects. This 
sustained trend is a reflection of Co lombia's healthy business environmen t which, in turn, is a result of 
its economic strength and its openness. 
154. During the review period Colombia has continued to open up its trade with a view to further 
integration with Latin Amer ica and the rest of the world.  Its GDP  grew at an annual rate of 4.8%, and 
in even 2010, thanks to its countercyclical polic ies and its export perform ance, Colombia avoided 
recession and saw its economic growth rate accelerate to 5.9% in 2011. 
155. Chile and Colombia both subscribe to the princi ples upheld by the WTO:  trade liberalization 
as one of the fundamental pillars of the economic de velopment of peoples;  respect for the rules and 
disciplines of the multilateral trading system as a gua rantee of security and stability in international 
trade relations;  and resisting protectionism and any measures that could distort trade. 
BRAZIL 
 
156. Firstly I would like to highlight that it is a pleasure to participate in the fourth TPR 
of Colombia.  Brazil and Colombia have close, fri endly and historical ties that have grown stronger 
over time.  Our countries share a common Latin Am erican heritage, and membership in several 
regional organizations, of which I would speci fically underscore ALADI, LNASUR and CELAC. 
157. In our WTO setting, I have to refer to Co lombia's firm commitment to preserving the 
multilateral trading system, and its support to the view that the Doha Round must deliver a positive 
outcome to the developing world.  As a member of the Cairns Group, Colombia is also keen on 
having meaningful outcomes in agriculture. 
158. This exercise takes place at a positive moment fo r Colombia's economy, in spite of the current 
global crisis.  In the period under review ( 2006-2011), its GDP has grown at an average rate 
of 4.8% yearly, ranking the country among the most dynamic economies in our region.  Colombia has been able to overcome the global economic crisis through a combination of countercyclical fiscal 
policies and the good performance of some export products. 
159. Colombia has achieved a highly dynamic growth  in its foreign trade between 2005 and 2011, 
at an average annual rate of l7%.  As many ot her countries in the region, however, Colombia has 
faced a decreasing participation of manufactured go ods in its exports during the covered period.  In 
this scenario, the growing network of trade agreemen ts of Colombia and the diversification of its 
exports have an important role to play. 
160. Brazil and Colombia have been deeply engaged in the process of integration in Latin America 
and the Caribbean.  Our bilateral trade flow al most quadrupled during the period under review,  WT/TPR/M/265 
 Page 27 
 
 
  jumping from US$1.1 billion in 2004, to approximate ly US$4 billion, in 201l, and there is certainly 
room to further boost and dive rsify our bilateral trade. 
161. It is remarkable that FDI flows to Colombia have registered a record US$13 billion, in 201l, 
practically twice as much as in 2010.  No doubt the Brazilian private sector increasingly looks at Colombia as an attractive destination for investment s.  More than 40 large Brazilian companies have 
heavily invested in Colombian iron, steel, oil, infrastructure and mining industries.  
Brazilian investments are now turning to non-trad itional sectors, especially banking and financial 
services.  Brazilians have equally discovered the in credible diversity and charm of Colombia, and 
were the fourth largest group of tourists  to enjoy Colombian hospitality last year. 
162. Several institutional mechanisms contribute to stimulate political, economic, and commercial 
bilateral relations.  The Joint Commission Brazil-Colo mbia was created in 2009 in order to structure 
and monitor a wide range of issues, such as educat ion, human rights, agriculture, environment and 
food security.  As pertains specifically to tr ade, Brazil and Colombia established the Trade 
Monitoring Commission in 2009.  This Commission that held its last meeting in Bogota last May, has 
been instrumental in addressing specific trad e hurdles and identifying new opportunities for 
expanding our trade relationship. 
DOMINICAN REPUBLIC 
 
163. With respect to the macroeconomic situation, we  note with satisfaction that during the review 
period, the Colombian economy grew in spite of the economic crisis at an annual average rate 
of 4.8%.  This was due to a combination of c ountercyclical policies and the strong performance of 
some export products.  However, the Secretariat report mentions that in  spite of this economic vitality, 
poverty levels continued to be high and there was a lack of equity in the distribution of income, with 
unemployment at 9.8%.  This is a source of concer n, and it is important that solutions should be 
found. 
164. The report also points out that during the review  period, Colombia's trade policy continued to 
move towards greater openness, and international trade in goods and services expanded, with the 
growth rate of both imports and exports practically doubling.  During that time Colombia's trade 
policy focused on the negotiation of preferential agreements. 
165. We note with satisfaction that the trade regime is fundamentally open, with an average tariff 
that has fallen to 62%.  However, we see that Colombia uses a price band system for various agricultural products, as a result of which import du ties vary according to international prices.  
The consistency of this system with WTO rules will need to be checked. 
166. We congratulate Colombia for simplifying its customs and administrative procedures during 
the review period, introducing a Single Window for imports and exports and a risk-analysis system. 
We urge Colombia to continue its reforms a nd its efforts to improve trade facilitation. 
PAKISTAN 
 167. While many economies in the world faced sta gnation or very little growth, Colombia's GDP 
grew at an annual average rate of 4.8% from 2005-20 11 which is slightly higher than the average rate 
for Latin America and the Caribbean. 
168. The driving force was investment, the sound fiscal account attracted domestic and foreign 
investors and FDI increased to a historical p eak of US$13.234 billion in 2011 as compared 
to US$6.056 billion in 2006.  Inflation reached 3.7%  but this was the lowest rate among the leading 
economies of the region.  However, bringing the un employment rate to one-digit level remained a WT/TPR/M/265 
Page 28  
 
  challenge in the first three quarters of 2011.  Anot her positive development is a fall in the poverty rate 
from 45% in 2005 to 37.2% in 2010 and 36% by D ecember 2011.  The sectors which contributed 
most to job creation were trade (26.4%), services (19%), agriculture (18.1%), and manufacturing (13%). 
169. Colombia is following a three-pronged approach to  growth and competitiveness.  First part of 
this strategy is to improve access to financial services, second part of the strategy is to improve 
business and entrepreneurial environment to ensure more flexible and efficient procedures for setting 
up companies and finally a greater role for th e private sector to address various problems.  
Public-private dialogue is promoted for achie ving greater competitiveness at the regional and 
national level. 
170. Colombia's efforts are commendable in new i nnovation-based sectors.  They have taken 
several steps to transform production in knowledge-int ensive sectors.  Funds are being provided to 
support technology-based companies, these are also provided for business modernization and 
innovation, research and developmen t centres and regional clusters. 
171. The Productive Transformation Programme (PTP) launched in 2010 is worth mentioning as it 
seems that it paved the way for more targeted fo cus and led to inter-institutional coordination.  
In 2011, 206 companies benefitted from the instru ments for the promotion of innovation, several 
regional innovation centres were suppor ted.  Bilateral cooperation in science and technology is being 
fostered to turn Colombia into a country of knowledge. 
172. In its journey to achieve competitiveness, Colombia has also reduced its tariffs and 
streamlined customs administration.  The new cu stoms regulations and laws are introduced to 
facilitate trade through the use of technology esp ecially security devices to help reduce the time 
required and the operational cost while strengt hening control mechanisms to counteract 
illegal practices. 
173. Some of the challenges faced by Colombia ar e a war against drugs and its impact on limited 
resources.  Colombia's integration in international goods and services markets to be able to participate 
successfully in global value chains and continuous  investment in infrastructure, education, 
information technology and innovation;  Colombia has a well chalked out plan to meet these challenges. 
TURKEY 
 
174. Colombia's economy achieved stable economic grow th over the course of the review period.  
Even during the crisis, Colombia's economy contin ued to expand and per capita GDP was doubled.  
This is a significant achievement.  Greater openness to  trade and consequently, closer integration with 
its region are among the factors which have contri buted positively to Colombia's economic success. 
175. While the Secretariat report indicates severa l challenges like poverty reduction and income 
distribution, the Colombian economy is clearly on the right track towards sustainable growth and 
development.  We hope that Colombia continues to  give a more prominent role to liberal economic 
structures in its efforts in confronting the challenges. 
176. In respect of the bilateral relations, we are pleased to note that trade volume between Turkey 
and Colombia tripled over the last six years, and reached US$800 million at the end of 2011.  In the 
first quarter of 2012, two-way trade increased by about 30%.  We expect trade volume to exceed US$1 billion at the end of this year.  WT/TPR/M/265 
 Page 29 
 
 
  177. In parallel to growing relations , Turkey opened its Embassy in Bogota in 2010 and this was 
followed by opening the Colombian Embassy in Anka ra in 2011.  At present, the two countries are 
aiming to conclude several agreements in areas lik e investments, double taxation to establish the legal 
framework of business activities.  Further, there were  six rounds of technical meetings to sign a free 
trade agreement between the two countries.  Such efforts reflect the willingness and readiness of both 
countries to further improve th e trade and economic relations. 
178. With respect to trade policies, in general, Colo mbia has an open trade regime.  The Secretariat 
report reveals significant progress Colombia has achieved in this field since its previous review.  It 
substantially reduced its tariffs levels, and it established a single window system based on risk 
analysis at customs as part of the efforts to simplify the customs procedures.  We appreciate 
Colombia's willingness to continue such reforms and liberalization in its trade policies while ensuring 
a fair business environment through adoption of the new competition law.  These improvements are noteworthy, particularly given that some of them  were taken during the economic crisis.  Meanwhile, 
in the course of reform process, we hope that Colombia will spare additional efforts to address 
two broader issues which are of interest to Turkey. 
179. First is the use of the import licensing system.  While we appreciate the reasons behind its 
use, we hope that through course of time, product c overage will be reviewed and the system will be 
applied only for a limited number of products in exceptional cases. 
180. Second is the use of mandatory indicative pr ices for importation of textile and clothing 
products.  While we respect the main objective of  indicative prices to prevent evasion of customs 
duties, we are especially concerned about domestic producers and importers' right to request the use 
of this practice as a way of protection against the so-called "unfair competition". 
181. Such an option may encourage local  agents to seek the extensive use of the reference prices at 
importation.  Establishing existence of unfair compe tition requires detailed analysis as provided in the 
relevant WTO agreements.  In our view, only comp arison of price data may not be sufficient to 
establish the existence of unfair competition.  Theref ore, we hope Colombia will look into alternative 
ways to achieve its legitimate concerns. 
182. Before concluding, Turkey would also like to acknowledge Colombia's contributions to the 
WTO and the Doha Round negotiations.  We are read y to work with Colombia to strengthen the 
multilateral trading system and to reach a satisfactory outcome in the DDA. 
COSTA  RICA 
 183. Relations between Costa Rica and Colombia, whic h were already very close, have further 
strengthened over the past few years at all levels.  The two countries are certainly very near to each 
other, and their trade and investment relations are well developed.  Apart from our historical ties, our 
common language and similar customs, both countries have recognized that in a highly integrated global economy, the key to development is capacity building with a view to promoting efficiency, 
quality, communication and improved competitiveness.  Costa Rica appreciates 
Colombia's contribution to the WTO, where we sh are the same values and interests as members of the 
Cairns Group, the Friends of the System Group, the Colorado Group and the Tropical Products Group, to mention but a few of the alliances in whic h we participate together with our geographical 
neighbours and neighbours in this Organization. 
184. Colombia is the second destination for Costa Ri can exports to South America, and the main 
source of our goods imports from South America.  In  2011, it ranked fourth among countries of origin 
of FDI.  In this connection, we are pleased to note that on 15 June of this year, our Presidents WT/TPR/M/265 
Page 30  
 
  announced the initiation of the negotiation of an FTA  between the two countries as an essential step in 
strengthening and consolidating our  trade and investment relations. 
185. I would now like to turn to certain aspects of  the Secretariat and Government reports of 
Colombia that are of particular interest to us and which, in certain cases, were addressed by the 
speakers that preceded me.  First of all, there is th e democratic prosperity policy, "Prosperity for All", 
and Colombia's efforts to consolidate good go vernance, boost competitiveness and improve the 
business climate.  Among the results reviewed, we would like to highlight the dynamic growth of 
foreign trade at an average annual rate of more than 17%, as regards both exports and imports, as well 
as the simplification of customs and administrative procedures, and we encourage Colombia to continue its efforts in the trade facilitation area. 
186. Regarding non-tariff barriers, we are concerned about the persistence of non-tariff restrictions 
mentioned in the Secretariat report, particularly t hose relating to registration requirements and import 
licensing and the high number of regulations.  At the same time, we would like to know 
Colombia's plans with respect to temporary tariff reductions and the possib ility of extending them and 
making them permanent.  We are also interested in Colombia's investment subsidies and incentive 
programmes and would like to know more about th e functioning of the Andean price band system. 
THAILAND 
 
187. Despite the long distance between Colombia and Thailand, during 2009-2011, the total trade 
value between Colombia and Thailand averaged at US$380.65 million per year.  In 2011, our total 
trade value with Colombia was at US$479.36 m illion, increasing from 2010 by 12.6%.  The current 
trade was recovered from the loss of momentum duri ng the global financial crisis in 2009, and our 
bilateral trade bounced back impressively in 2010 by 79%.  Colombia is Thailand's fifth trading 
partner from the Latin American region. 
188. In the total trade value mentione d, the majority part is accounted by the export from Thailand 
to Colombia.  However, the trend of imports fro m Colombia is increasing, that is, from 2010 to 2011, 
imports from Colombia to Thailand rose by almost  153% to US$113.19 million.  Our main exports 
to Colombia cover motor vehicles, machinery, rubber and chemical products.  The main imports 
from Colombia to Thailand include animals and animal products, iron, steel, and chemicals.  
With Colombia's substantially open trade regime a nd positive growth, our trade relationship is bound 
to be expanding. 
189. Thailand is impressed with Colombia's stable growth and rebound after the global financial 
crisis in 2009 and that such a solid economic pe rformance resulted in a remarkable per capita 
GDP's growth from US$3,417 in 2005 to US$7,236 in 2011. 
190. During the review period, Colombia's interna tional trade in goods and services also shows 
notable potentials, with imports growing at an annual average rate of 17.1% and for exports at 17.9%.  
We also recognize Colombia's tariff reform, whic h has reduced the average tariff from 12% in 2006 
to 6.2%.  However, Thailand recognizes not onl y Colombia's trade policy with openness in 
consolidating bilateral and regional trade relationships, but also Co lombia's important leadership role 
in supporting the multilateral trading system with  transparency and integration of developing 
countries into the global economy. 
PERU 
 
191. We share Colombia's views concerning the ov erriding importance of the multilateral trading 
system, the need to fight protectionism, and the importance of continuing to open up trade at all 
levels, bilateral, regional and multilateral, as a pr iority objective, relying on the competitiveness and  WT/TPR/M/265 
 Page 31 
 
 
  productivity of leading sectors and of local ente rprises, in particular the small and medium 
enterprises, as well as increased internationalizati on and better integration of those enterprises in 
global value chains as a means of enhanci ng economic growth and social inclusion. 
192. We appreciate the stability of Colombia's macroeconomic and trade policies and its active 
promotion of foreign investment, which has enabled it  to further diversify its  production and stimulate 
economic growth.  We also welcome Colombia's e fforts to reduce poverty and seek greater fairness. 
193. Peru and Colombia are neighbours, and shar e common challenges.  Since 1969 they have 
been part of the Andean integration process known as the Cartagena Agreement.  In 1993, 
the Andean countries eliminated tariffs between th em and formed a free trade area in which goods 
move freely.  Services were also liberalized, particularly the different modes of transport.  2010 saw 
the approval of the Andean Strategic Agenda w ith 12 foci of consensus.  These include trade 
integration and economic complementation, prom otion of production, trade, and sustainable 
consumption, as well as physical integration and border development, and energy integration and 
natural resources. 
194. We have also been members of the Pacific Alliance since 2011, with a view to further 
integrating our economies and acting jointly to cr eate trade links with Asia and the Pacific.  
Moreover, with the integration of the stock excha nge of Colombia, Chile and Peru, we have created 
an important integrated regional stock market.  If further evidence were needed of these concrete 
efforts at integration, a trade agreement between Peru, Colombia and the European Union is being 
signed today. 
195. In the WTO, we belong to interest groups in a sector that is important to both countries, 
agriculture:  the Cairns Group and the Tropical Products  Group.  We have also participated jointly in 
a number of important common interest initiatives  concerning trade-related aspects of intellectual 
property rights, the Convention on Biological Divers ity, fisheries subsidies, and the defence of 
specific trade interests and systemic interests in  various areas, including sanitary and phytosanitary 
matters.  We also aim to multiply the positive impa ct of trade in information technology products on 
development and to attract investment and create technology product hubs in the region as members, 
and we intend to pursue negotiations in services. 
196. In this context, bilateral trade has increased  steadily over the past decade, exceeding 
US$2.5 billion in 2011 with a balance slightly in Colombia's favour and greater diversification of 
products traded.  Colombia is the first destination for Peruvian exports in the Andean market with a 
cumulated growth of 70% over the last five years.   The main products exported were iron and steel, 
and chemicals.  Colombia is th e second source of Peruvian imports from the Andean market after 
Ecuador.  The stock of Colombian direct investme nt in Peru, which exceeds US$1 billion, is also 
worth highlighting:  it essentially targets industrial activities. 
EL SALVADOR 
 197. We would like to highlight Colombia's sustained growth over the past few years:  its GDP 
grew at an average annual rate of 4.8% per year, reaching a maximum of 5.9% in 2011.  Although the 
Colombian economy expanded cons iderably between 2005 and 2007, it slowed down between 2008 
and 2009 as a result of the financial crisis that  affected all Members of this Organization. 
198. We are pleased to note that Colombia's trade flows have shown dynamic growth, with imports 
increasing at an average annual rate of 17.1% betw een 2005 and 2011, and exports increasing at a rate 
of 17.9%.  Meanwhile, services remained a strate gic sector for the Colombian economy, accounting 
for approximately two thirds of GDP in 2011, with both exports and imports on the increase. WT/TPR/M/265 
Page 32  
 
  199. While we acknowledge Colombia's efforts to c ontinue focusing its trade policy on opening up 
its markets by temporarily reducing tariffs in cer tain sectors and concluding a number of free trade 
agreements, it is important that it try to reduce the non-tariff restrictions identified in the Secretariat 
report, since the main victims are the small country exporters. 
200. As is the case with El Salvador, agriculture c ontinues to play a very important role in the 
Colombian economy.  However, during the revi ew period growth in the agricultural sector 
experienced a slowdown which coincided with  a significant growth of the mining sector. 
201. Trade relations between Colombia and El Salva dor have intensified over the past years, and 
Colombia currently ranks seventh among El Salvador's  trading partners in te rms of imports for 2012.  
These trade relations have been governed by partia l-scope trade agreements concluded in 1984 in the 
framework of the LAIA, and more recently, the free trade agreement between Colombia and the 
Northern Triangle, which entered into force for El Salvador on 27 March 2010.  We are certain that 
this Agreement will help to strengthen the already significant trade relations between 
the two countries as well as the friendship and coop eration that has always existed between them. 
202. We are pleased to note that since its last review, Colombia has made significant progress on 
the competition front, adopting a new Law on Competition in 2009 with a view to updating the 
applicable legal framework.  With this new Law, Colombia is sending out important signals regarding 
its continued commitment to the promotion a nd protection of free competition in the country. 
203. In the trade facilitation area, Colombia has also  made significant progress since its last Trade 
Policy Review, among other things by streamlining customs and administrative procedures and setting 
up a single window for imports and exports.  Like Colo mbia, El Salvador considers that it is important 
to achieve results in the negotiations on trade fac ilitation taking place at the WTO, as this would be an 
effective means of facilitating the trans it of goods from all Member countries. 
204. Finally, Colombia has played an important ro le in trying to stimulate the negotiations under 
the Development Doha Round as well as the rest of th e WTO's trade agenda.  This testifies to the 
country's commitment to strengthening the multilatera l trading system in spite of the various trade 
agreements concluded with WTO Members. 
INDIA 
 
205. Colombia's growth performance during the pe riod under review has been noteworthy 
recording an average annual GDP growth rate of 4.8% during 2005 to 2011.  Despite the global economic crisis, its GDP grew by 5.9% in 2011 w ith strong growth in the mining, transport, 
communications, finance and construction sectors.  This performance has been accompanied by a 
notable growth in its per capita GDP from US$3,417 in 2005 to US$7,236 in 2011. 
206. However, poverty eradication, job creation, keeping the public sector deficit in check and 
controlling inflation remain a cha llenge and a priority for the gove rnment.  Although poverty levels 
have reduced they remain high with continued lack of equity in income distribution.  Unemployment 
too has shown a downward trend, but is still quite  high at nearly 10% in 2011.  And Colombia's 
inflation rate of 3.7%, though lowest in the region, continues to draw concern. 
207. We are encouraged by the resolve of the Co lombian Government to address these challenges 
through appropriate policies.  Its goal to achieve "Prosperity for All" is being pursued through the 
identification of "locomotive sectors" including ag riculture and rural development, housing, mining 
and energy, transport and new innovation sectors.  Co lombia is also focusing on micro, small and 
medium enterprises and taking steps to promote ne w innovation-based sectors through investment and 
science and technology cooperation arrangements.  WT/TPR/M/265 
 Page 33 
 
 
  208. Colombia has done well in terms of impr oving its business environment resulting in an 
increase in investment both domestic and foreign.  Colombian legislation accords national treatment to foreign investment and most sectors are ope n to foreign investment, barring a few in which 
limitations or prohibitions are maintained.  As a result, FDI in Colombia more than doubled during 
2006-2011 from US$6 billion to over US$13.23 billion.  Colombia also became a major investor 
abroad with an outward investme nt of US$8.29 billion in 2010. 
209. On the external front, Colombia has largely ma intained an open trade regime through some 
non-tariff restrictions relating to legislation, co mplex regulations and im port licensing requirements 
remain in place.  Colombia has reduced its averag e MFN tariff from 12.2% to 6.2% which has helped 
improve competitiveness of domestic production.  On  trade facilitation, we welcome Colombia's 
efforts to simplify customs procedures through a si ngle window system and a risk-analysis system. 
210. Thanks to these steps, Colombia's internationa l trade in goods and services grew dynamically 
at 17% during 2005-2 011.  Its exports reached US$57 billion in 2011, 43% higher than 2010.  Trade 
is being promoted through a strate gy of bilateral and regional trade agreements as well as multilateral 
integration.  Trade however continues to be concentrated in a few products.  Mining products 
represented 65% of Colombia's exports in 2011 comp rising mainly of crude oil and coal, while the 
manufacturing sector accounted for only 17% of its exports.  On the other hand, manufactures accounted for almost 80% of Colombia's imports comprising machinery, transport equipment and 
chemicals.  The US was the main export destin ation accounting for 38.5% of Colombia's exports 
and 25% of its imports.  This calls for greater diversification of Colombia's trade basket as well as 
export markets which would enable it to take advantage of the emerging opportunities in the 
multilateral trading system. 
211. On the bilateral front, India shares cordial a nd friendly relations with Colombia.  A trade 
agreement was signed between the two countries in  1970.  Since then, we have signed MOUs on 
cooperation in the fields of IT, science and tec hnology, hydrocarbons, busin ess development, geology 
and mineral reforms.  A bilateral investment pr omotion and protection agreement was signed in 2009 
and a double-taxation avoidance agreement was si gned in May 2011.  The two countries have 
exchanged visits at the Ministerial level on a re gular basis to explore opportunities for bilateral 
cooperation. 
212. Bilateral trade between India and Colombia h as grown significantly in the last few years 
from US$813 million in 2009-2010 to US$1.4 billion in  2010-2011.  Our exports to Colombia grew 
by 42% from US$389 million in 2009-10 to US$544 million in 2010-2011, wh ile our imports doubled 
from US$424 million in 2009-2010 to US$856 million in 2010-2011.  Main items imported from 
Colombia include mineral fuels and oil while expor ts from India comprised vehicles, cotton yarns, 
fibres, chemicals, pharmaceutical products, etc.  Several Indian companies have set up operations in Colombia in the area of oil exploration, transpor t equipment and IT.  Capacity building constitutes an 
important element of our cooperation;  45 traini ng slots were offered to Colombia in 2011-2012 under 
India's ITEC programme.  We recognize the immens e potential that exists for deepening cooperation 
between our countries and look forward to collaborati ng with Colombia in the future to enhance our 
economic and commercial ties. 
SINGAPORE 
 
213. We congratulate Colombia for its sustained economic growth during the review period.  
Despite the global financial crisis, Colombia's GDP grew at a steady rate.  Singapore and Colombia 
have good bilateral economic  relations, which we are confident will improve.  Bilateral trade in 2011 
saw an increase of about 130% over 2010, with imports from Colombia increasing more than 200%. WT/TPR/M/265 
Page 34  
 
  214. We recognize that Colombia's sustained success is the result of sound trade policies which 
place importance on trade openness and the multilateral trading system, while embracing bilateral and 
regional preferential trade agreements.  We welcom e Colombia's moves to decrease its average tariff 
rate in the period under review from 12.2% to 8. 3%, and simplify its customs and administrative 
procedures through the new customs statute and improved single foreign trade window. 
215. We also warmly welcome Colombia's recen t commitment to the Information Technology 
Agreement.  Colombia's commitment to achieve "Pro sperity for All" and to internationalize its trade 
policy is exemplary.  Colombia is also pragmatic  in recognizing the importance of situating its 
economic and trading realities within global value ch ains.  This enables to you to better fine-tune 
policies to support your domestic businesses and SMEs to become globally competitive.  
Colombia's success in improving its attractiveness as a place to do business is evident in its significant 
achievements in the period under review, includi ng the jump in investment as a share of GDP 
from 8% to above 28% in 2011, the regaining of inv estment grade credit rating for its sovereign debt, 
declines in the poverty rate and unemployment, and ma intaining the lowest rate of inflation in the 
Latin American region. 
216. Both Colombia and Singapore place great emphasis on a multilateral trading system with 
clear, transparent and predictable rules.  In th is regard, we would like to place on record our 
recognition and appreciation of the important work done by Ambassador Muñoz Gómez as the 
Chairperson of the TPRB.  Singapore values both the TPR process and the broader mechanisms it affords for transparency and monitoring in the WTO.  The TPRB provides a necessary and 
constructive platform for a frank exchange of views and peer suggestions on ways to improve trade 
policies and practices for our common objective of trade promotion and economic growth and 
development. 
BOLIVARIAN REPUBLIC OF VENEZUELA 
 
217. During the review period, the international financ ial crisis that affected all of us caused the 
Colombian economy to slow down, specifically during 2008 and 2009;  but thanks to a combination 
of countercyclical policies and a strong performan ce of some export products, raw materials in 
particular, Colombia avoided recession, and th e economy has rebounded over the past two years. 
218. However, as happened in a number of other de veloping countries that increased their exports 
of raw materials during these past years, and pa rtly because of substantial capital inflows into 
Colombia, a real appreciation of the peso took place which made exports less competitive.  We 
appreciate the action taken by the Bank of the Rep ublic to influence the exchange market and deal 
with this situation in the short term, and we are sure that this will be achieved. 
219. We would like to stress that as a result of  the country's solid economic performance, 
per capita GDP grew rapidly, from US$3,417 in 2005 to US$7,236 in 2011, a very encouraging trend.  We would very much like to see these additional r esources channelled into social programmes that 
generate employment and help to bring down povert y levels which, though progressively declining, 
remain high. 
220. For us, it has been very important to partic ipate in this review, since Colombia is a 
neighbouring country with which we have signifi cant trade links, but perhaps more importantly, 
historical and cultural ties that have always unite d our peoples.  In 2010, with the Government of 
President Santos, the two sister nations revitalized  their bilateral agenda on a basis of equality and 
mutual respect, as well as reciprocity and coopera tion in economic and political matters.  On that 
basis, our leaders moved towards promoting and intensifying technical and scientific cooperation, 
with a focus on areas such as agriculture, land, infrastructure, housing, science and technology, 
intermediate industries, health, tourism and mining.  WT/TPR/M/265 
 Page 35 
 
 
  221. As regards trade, although since the last revi ew the legal framework governing our bilateral 
and subregional trade relations has changed signifi cantly and experienced a number of ups and downs, 
the trade advantages received and granted under the previous agreements have remained in place 
between the parties and, as we mentione d earlier, have recently been extended. 
222. In fact, Colombia and Venezuela have re newed their trade relations, and in 2012, 
we implemented a new partial scope preferen tial agreement among the ten or so binational 
cooperation agreements signed recently, many of th em with a view to strengthening economic growth 
in the two countries, with special attention to  the extensive shared border areas which are of 
considerable interest to the development of both countries. 
223. To give a few figures, as an indication of what was achieved in our bilateral and trade 
relations, in the course of 2011 exports from Colombia  to Venezuela increased by 23% in comparison 
to 2010; under this new trade agreement between the two countries, approximately 5,000 tariff 
headings, or approximately 90% of Colombia's tari ff, notably including vehicles and autoparts, ended 
up with a zero tariff rate, and these correspond to the products that were traded between Colombia and 
Venezuela between 2006 and 2010. 
224. The main objective at this point is to revive a nd surpass the levels of trade recorded up to the 
second half of 2009, when we exceeded US$7 billi on.  We are convinced that in order to move 
forward in this respect and to take full advantage of the agreements recently concluded, we need to 
progress on other fronts, particularly transport, and make sure that there are regulations between the 
two countries to facilitate trade flows. 
225. The 13 cooperation agreements ratified this year  aim to strengthen our complementarity in 
many other areas that are crucial to both countries,  namely:  petroleum, gas, mining, textiles, 
basic industries, cement, generic medicines, and agri culture, in particular dairy products and livestock. 
NIGERIA 
 
226. Nigeria is happy to note that the Government of Colombia is committed to ensuring that its 
trade and economic policies are both supportive of deve lopment and consistent with its international 
obligations.  We observed from the Government report that since the last review, the Government has 
been pursuing its objective of becoming more inte grated into the markets of Latin America and the 
Caribbean, Europe and Asia, including strengthening its participation in mu ltilateral organizations.  
In addition, Colombia has continue d with its successful development and implementation of a strategy 
to integrate into the global economy by focusing its trade policy on improving participation in the 
value chains through increasing a nd diversifying foreign trade in goods and services, as well as 
foreign direct investment flows. 
227. As highlighted in the Government report, th e sound economic growth achieved over the past 
years, has led to inter alia , the decline in the rate of unemploym ent and the consolidation of public 
sector deficit;  the lowest level of inflation in the region;  and significant foreign direct investment.  
We, therefore, commend the Government of Colomb ia for its commitment;  and encourage it to 
continue on this path by strengthening its ins titutions and continuing with improvements in both its 
economic and trade policies. 
228. The Secretariat report has acknowledged the relative openness of the Colombian economy.  
Apart from reduction in tariff protection, the Gove rnment has implemented tariff reforms aimed at 
reducing the level of tariff dispersion.  In partic ular, the average tariff has fallen to 6.2%, compared 
with 12% in 2006.  Although Colombia has, since th e last review, continued to liberalize its trading 
arrangements, both unilaterally and through free trade arrangements, it is of concern that a number of 
non-tariff barriers, such as import registration and li censing requirements, including a large number of WT/TPR/M/265 
Page 36  
 
  regulations, still remain.  It would be interesting to know how Colo mbia intends to address this and 
other concerns within the context of its ongoing reform efforts. 
229. It is significant to note that during the review period, Colombia has simplified its customs and 
administrative procedures by establishing a single window for imports and exports, and a system of risk analysis, which has reduced the frequency of insp ection.  As highlighted in the Secretariat report, 
further efforts are required to facilitate trade, in cluding the improvement in the functioning of the 
single window operations.  Nigeria would like Colomb ia to explain how it intends to achieve those 
desired improvements. 
230. The agricultural sector is of key importan ce to the Colombian economy on account of its 
contribution to GDP, employment and exports.  It is  therefore, understandable why the current focus 
of agricultural policy is on promoting developm ent in rural areas, including competitiveness and 
market diversification.  While mainly a res ource-based economy, Colomb ia has succeeded in 
diversifying from the export of its traditional comm odities such as minerals, coffee and sugar to other 
products such as flowers, chemical, food and tob acco products, clothing, leather and leather goods.  
The economic growth can be attributed to improve security, resulting in greater foreign investment, 
economic reforms in the oil and gas sectors, prudent monetary policies, and e xport growth fuelled in 
part by the Andean Trade Promotion and Drug Eradication Act (ATPDEA) of 2002. 
231. However, given that the level of investment has not been sufficient to bring wide spread 
technological modernization or commensurate infrastru cture development, it would be useful to know 
the plans that Colombia has for enhancing the invest ment climate, with a view to improving the level 
of domestic and foreign investment.  Nigeria notes the observation highlighted in the 
Secretariat report that in order to consolidate and broaden those gains, that have been made, it is 
important that Colombia addresses, among others, certain practices related to customs, import 
licensing, local content requirements, internal  taxes and the regulation of certain services. 
232. Nigeria wishes to commend Colombia for its st rong commitment to the multilateral trading 
system, including its active and constructive par ticipation in the Doha Development Agenda 
negotiations.  In particular, we note that Colombia became the 74
th member of the Information 
Technology Agreement, which represents an importan t step in its policy of modernizing and further 
liberalization of its economy. 
URUGUAY 
 
233. The Secretariat report points out that since the last Trade Policy Review conducted in 2006, 
Colombia has continued steering its trade policy to wards greater openness, setting its sight on closer 
integration with Latin America and the Caribbean, as well as with the rest of the world, through the 
negotiation of preferential agreements to increase exte rnal trade and foreign investment flows.  It 
further states that Colombia has a substantially open trade regime, with an average tariff which 
declined considerably during the period under review. 
234. Uruguay maintains friendly and constructive ties with Colombia in the different areas of their 
bilateral relationship, both at the political and econom ic levels, and when it comes to finding areas for 
trade and cultural cooperation.  The Uruguayan au thorities underscore the positive results of this 
bilateral relationship, based on a regular excha nge of visits and high- level meetings.  Other 
noteworthy aspects are the concrete progress made in  respect of the bilateral agenda, increased trade 
flows, and the high level of dialogue and coordina tion between the two countries both regionally and 
internationally.  WT/TPR/M/265 
 Page 37 
 
 
  235. Trade relations between Uruguay and Colombia are governed by the CAN-MERCOSUR 
Economic Complementarity Agreement which aims at  creating a free trade area for goods through a 
trade liberalization programme applicable to pr oducts originating in the signatory countries. 
236. We note, in this connection, the scope of the round of negotiations to deepen trade relations, 
which covers, inter alia , market access, government procuremen t and investment, the aim being to 
create reciprocal opportunities that will diversify our economies and our exports. 
237. Between 2007 and 2009, bilateral trade as such averaged US$20 million annually.  
Starting in 2010, the figure began to rise, reaching approximately US$29 million that year 
and US$44 million in 2011.  The trend continued, with a figure of approximately US$28.5 million for 
the first half of 2012. 
238. Let me conclude by affirming that the two countries are interested in joining forces to seek a 
successful conclusion to the Doha Development Round and to strengthen the multilateral trading 
system on the basis of predictable, transparent and balanced rules. 
JAMAICA 
 
239. My delegation would like to congratulate the Government of Colombia for its sound 
economic performance since the last TPR in 2006.  Unlike most developing countries, 
Colombia weathered the global ec onomic and financial crises well.  Although growth slowed in 2008 
and 2009, the Colombian economy rebounded very we ll.  According to both reports, the Colombian 
economy grew at an average annual rate of 4.8% between 2005 and 2011, a level that exceeded the 
average rate for Latin America and the Caribbean .  Colombia's economy has begun to show growth 
and recovery as reflected in an increase in the p ace of economic growth due largely to sound fiscal 
policy, strong export performance and dynamic domestic demand, specifically through increased 
investment. 
240. Colombia has set itself targets to ensure fu rther macroeconomic growth and development 
through achieving a higher economic growth rate, maintaining domestic demand, reducing 
unemployment and poverty rates and decreasing infl ation.  Real GDP growth is estimated at 
almost 6% for 2011 and the growth forecast for this year remains positive at approximately 5%.  The authorities will continue with important structur al reforms as outlined in the Government report 
as they recognize that sound trade policies have to be combined with effective internal economic 
policies in order to foster genuine  competitiveness on a sustained basis. 
241. Trade liberalization within the multilateral and re gional contexts remains the cornerstone of 
Colombia's overall trade policy framework.  This  is evident in both reports.  Colombia has a 
substantially open trade regime and competitive economy especially as it continues to pursue the 
increased internationalization and integration of its economy into the multilateral trading system.  
At the multilateral level, Colombia plays an activ e role in all areas of the WTO work programme, 
including the Doha negotiations.  Colombia  maintains its commitment to reviving 
the Doha negotiations with a view to ensuring a balanced outcome. 
242. Colombia pursues trade liberalization at the regional level which it views as complementary 
to multilateralism.  It participates in a number of preferential and free trade agreements with countries 
including from Latin America, CARICOM countri es including Jamaica, and increasingly Asia.  
Increased emphasis on regionalism and bilateralism is viewed as a means of diversifying exports and export markets and increasing the level of investment in the country. WT/TPR/M/265 
Page 38  
 
  243. Jamaica has excellent bilateral relations with  Colombia spanning the trade, social and 
economic spheres.  We are confident that our b ilateral relations will deepen as the multilateral and 
regional trade and develo pment agendas evolve.  WT/TPR/M/265 
 Page 39 
 
 
  V. REPLIES BY THE REPRESENTATIVE OF COLOMBIA AND ADDITIONAL 
COMMENTS 
244. We have taken note of the comments by Members in the course of the first session 
highlighting the strong performance of the Colombian economy during the review period.  They recognized that the reforms that had been undertaken had borne fruit and that in striving towards 
an economy based on the principles of openness a nd trade liberalization and seeking to achieve 
effective integration in global value chains, Colo mbia had chosen the right path.  We intend to 
continue along that path, in spite of  the current world economic climate. 
245. As I mentioned in my opening statement, the trade reforms introduced, coupled with prudent 
management of fiscal and monetary policies and a number of other factors, resulted in one of the 
highest growth rates in Colombian history, w ith an unprecedented surge in exports and foreign 
investment, even during the world crisis. 
246. Members pointed to the significant challenges that  remain if we are to continue to move 
forward and consolidate our growth.  We we lcome some of the important recommendations, 
for example that we continue diversifying our produ cts and markets.  We can assure you that we are 
working to do so, and that this is the objectiv e of two of Colombia's current strategies:  
internationalization of the economy and entreprene urial development, in particular the Productive 
Transformation programme. 
247. The internationalization strategy accounts for Colo mbia's increasing participation in bilateral 
and regional integration initiatives with various Me mbers participating in this review.  Far from 
undermining Colombia's commitment to the prin ciple of multilateralism, these efforts in fact 
complement that commitment. 
248. We are also working with our trade promotion agency, Proexport, on programmes to help us 
take full advantage of the trade and investment ag reements.  From Colombia and from various offices 
throughout the world, we are seeking to bring exporte rs closer to the main international markets and 
attract investors to the Colombian market. 
249. The Productive Transformation programme is  designed to consolidate and stimulate 
new sectors, increase the competitiveness of the exportable supply, and take proper advantage of improved access to the economies with which we have trade agreements. 
250. One major challenge that has been raised by Members is the reduction of poverty and 
unemployment.  This is precisely why we are comm itted to increased growth and to improving trade 
and investment flows.  We firmly believe in th e positive link between trade, economic growth and 
employment.  We are fully aware that we have to move in that direction in order to reduce poverty 
and increase the welfare of our population.  Hence the name of our development plan, 
"Prosperity for All". 
251. A recent OECD study, "Policy Priorities for Inte rnational Trade and Jobs" (D. Lippoldt, 2012) 
shows that the transmission channel between trade liberalization and employment relies on the 
positive effects of trade liberalization on economic pr oductivity.  Contrary to some views, opening up 
the economy attracts investment, both domestic and fo reign.  However, the opening up and deepening 
of trade represent only one dimension of government policy which needs to be accompanied, among other things, by stable macroeconomic policies, the supply of public goods, strong institutions, sound 
property laws, infrastructure development and human capital formation.  In other words, what is 
needed is a set of instruments that contribute to growth, enhance economic efficiency and labour 
income, and reduce poverty. WT/TPR/M/265 
Page 40  
 
  252. As regards the investment climate in Colombia , we are encouraged by the positive remarks 
made by Members last Tuesday.  The reforms in this  field are reflected in the amount of FDI received 
by Colombia.  In the "Doing Business" index fo r protecting investors, we rank fifth out of 183 
economies, and in the "OECD Inv estment Policy Review:  Colombia 2011" we are recognized as one 
of the economies with the fewest restrictions on foreign investments. 
253. Let me now turn to some of the specific points raised by Ambassador Yeend and 
by Members, both in their interventions and in thei r questions.  I shall focus on recurring issues, since 
we have replied to all of the ques tions that were transmitted to us be fore the meeting.  We fully agree 
with the comments made by a number of Members on the importance of reaching a satisfactory conclusion to the Doha Round.  We  repeat our readiness to continue working constructively in all 
areas of the negotiations to find solutions that will enable us to overcome our differences. 
254. In agriculture, several Members commented on the need to reduce tariff protection.  We will 
continue to work within the Cairns Group toward s a rapid completion of the negotiations on the basis 
of effective compromises on market access, subs tantial reductions in dom estic support, and the 
elimination of export subsidies.  A multilateral agreement on agriculture is a prerequisite to 
contributing effectively to the reduction of the num erous restrictions and distortions affecting the 
sector and moving forward with th e liberalization of world trade. 
255. The new elements of Colombia's agricultura l policy in the framework of the National 
Development Plan 2010-2014 are directed towards be tter provision of public goods such as irrigation 
systems for small and medium producers, techni cal assistance, agricultural innovation and risk 
coverage.  This will be done in a manne r consistent with our WTO commitments. 
256. As regards goods, following the comment we rece ived last Tuesday we would like to clarify 
that our tariff universe is entirely bound, and in the context of NAMA, none of our products exceed 
the 40% tariff rate.  Although there is "water" betw een the bound and applied tariffs, we are ready to 
introduce any reductions that are adopted under the Doha Round to narrow that gap. 
257. The progress made on the customs front, particular ly with regard to the entry of goods into 
the territory of Colombia, can be seen in the im proved functioning of the single window for foreign 
trade, the computerization of processes a nd the reduced response time for users. 
258. Some countries pointed out that Colombia con tinues to maintain measures that make trade 
more difficult such as import prohibitions, non-au tomatic licensing for a considerable number of 
goods, and complicated registration procedures.  It  should be noted that import prohibitions and 
non-automatic licensing are applied for the protec tion of human, animal and plant health, public 
morals, the environment, and national security. 
259. As regards the registration requirements for the importation of goods into Colombia, this acts 
as an automatic licence, and as stated in the repor t of the Secretariat, is required only when a 
government authority has to certify compliance w ith a sanitary or technical requirement.  
Non-automatic licensing is applied only to 2.5% of tariff lines covering goods which, by their nature, 
require special controls under Article XX of the GATT 1994. 
260. Decree No. 019 of 2012 establishes deadlines for the authorities to respond to automatic and 
non-automatic import licence applications.  Also, with a view to facilitating trade, the authorities have 
spent the past few months reviewing the current legislation relating to import regimes, including 
registration procedures. 
261.
 Several Members mentioned reference prices, su ggesting that they should be suspended.  
Let me clarify that these are not minimum prices used as a tax base for the calculation of customs  WT/TPR/M/265 
 Page 41 
 
 
  duties.  As is the case for many WTO Members, the reference prices used by Colombia are applied in 
conformity with Article 7.2 of the Agreement on Cu stoms Valuation and are international prices that 
are identical or analogous to those under valuation.  They come from specialized international sources 
and are used for indicative or reference purposes, as their name suggests, to control practices such as 
under-invoicing. 
262. Other delegations expressed a number of concerns with respect to the adoption of technical or 
sanitary and phytosanitary regulations as well as ad ministrative measures that have an impact on 
exports to Colombia.  I would like to take this opportunity to repeat that Colombia respects its 
commitments under the TBT and SPS Agreements.  In developing its regulations, as in the case of 
vehicles, Colombia resorts to international standa rds for legitimate purposes relating to the protection 
of human health and the environment. 
263. In keeping with our commitments, our national contact point has responded to the remarks of 
Members on notified draft technical regulations and conformity assessment procedures, so that the various specific trade concerns have been satisfactorily addressed. 
264. Our authorities adopt sanitary and phytosanitary measures on the basis of the regulations of 
international organizations such as the OIE, and of  duly substantiated scientif ic evidence.  We shall 
continue to do so, in conformity with the SPS Agreem ent.  It should be noted that Colombia has been 
making progress as regards the improvement of its hea lth status.  Proof of this is that it received 
OIE recognition as a country free of foot-and-mouth disease with vaccination in 2009 and as a country with a "negligible risk" of bovine spongi form encephalopathy last month.  In addition, 
Colombia implements an institutional strengthening  programme aimed at ensuring effective technical 
and scientific evaluation in sanitary risk assess ment.  Work has also begun on creating a single 
window to simplify and streamline agricultural input registration procedures. 
265. As we reach the end of this fourth Trade Po licy Review, we feel doubly satisfied:  on the 
one hand, we are pleased to see Members acknowle dge the merits of our policies, our compliance 
with our WTO commitments and our contribution to strengthening the multilateral trading system.  At 
the same time, we are encouraged by the construc tive spirit in which Members have pointed out areas 
in which we face challenges and in which there is room for improvement.  You may rest assured that 
we shall work ever harder to achieve our objectiv es and to reflect on how to improve our policies and 
practices. 
DISCUSSANT 
 
266. First, I think this TPR has given a strong messag e of support for the role trade can play as an 
engine to generate econom ic growth, jobs, and reduce poverty.  This has been reflected through an 
impressive set of economic figures during the review period including strong per capita GDP growth, impressive growth in international goods and ser vices trade, as well as ongoing domestic reform in 
areas like tariffs, customs and administrative pro cedures, financial and prudential regulation and 
competition policy. 
267. Indeed Colombia's weathering of the global financ ial crisis is an endorsement of the value of 
sound macroeconomic policy, and an example of  how openness to international trade builds 
competitiveness and resilience, and is not somethi ng to be feared.  Colombia's competitiveness and 
attractiveness to international markets is under lined by strong increases in FDI, an improved 
sovereign debt rating, and its strong performa nce in the World Bank Doing Business index. 
268. Along with this endorsement of Colombia's pa th since the last TPR was a strong positive 
signal about Colombia's future plans, as set out in  their delegation's report and the detailed statement WT/TPR/M/265 
Page 42  
 
  from Vice Minister Duque.  Members can feel reassure d, I think, that Colombia intends to build on 
the gains it has made. 
269. We have heard a strong message of support fo r Colombia's role in the WTO, and an 
encouragement to maintain this while pursu ing its ambitious FTA negotiating strategy.  
Colombia expects that it can pursu e creative efforts to advance negotiations in Geneva, as well as the 
regular work of the WTO, while becoming more inte grated with key bilatera l and regional partners.  
Its performance to date should give us every reas on to think that this expectation of pursuing 
comprehensive bilateral and regional integration, while reinforcing the WTO at the same time, will 
be met. 
270. Another key theme has been the strong inter est from Members in Colombia's future tariff 
policy plans, noting the desire of making temporar y cuts permanent to increase predictability and 
long-term transparency, while also building on th ese with further tariff reductions.  Noting the 
low average tariff in other sectors, many Members expr essed an interest in Colo mbia's plans to reduce 
the relatively higher tariffs on agriculture.  Fu rther agricultural tariff reductions along with 
other complementary structural adjustments coul d be a means to strengthening the competitiveness 
of this sector which has been identified by  the Colombian Government as one of the 
five "locomotive sectors". 
271. I believe that an important theme for the Colo mbian delegation to reflect on further is the 
desire expressed by many Members for streamli ning, including increased predictability and 
transparency, of a range of non-tariff measures,  including customs valuation, import licensing, 
SPS measures, and technical regulations.  Withou t reiterating the specific concerns raised by 
Members, I believe that the strong view from WTO Me mbers is that Colombia could look at areas to 
further facilitate trade through reform ing its use of non-tariff measures. 
272. Finally, the diversification of exports into new sectors and to new markets has been a 
key theme.  We have heard a call for Colombia  to focus on ensuring its competitiveness across a 
range of sectors, so that its producers can take full advantage of its increasing number of FTAs.  
Colombia's desire to integrate into  global value chains is not a uni que one, and will be of interest for 
many Members to follow. 
273. To conclude, I am confident that the Colo mbian delegation will reflect on these general 
themes, as well as the specific points made by Member s in their questions and statements.  I am sure 
that I speak for all Members when I congratulate Colombia on its remarkable progress since its last 
Trade Policy Review, and look forward to seeing further success in  the years ahead. 
EUROPEAN UNION 
 
274. We have some follow-up comments and questi ons.  First, our comments relate to 
Colombia's technical regulations for the automotiv e industry, where the EU is concerned about the 
trend to develop detailed domestic  regulations that are required in addition to international 
regulations.  This is in contradiction with the inte rnational efforts for standardization of the sector.  
The domestic approaches to regulati on - regarding contents and not ex clusively numbers of acts - is 
contrary to the referred efforts to facilitate trad e, and entail additional costs and disproportionate 
administrative burden to economic operators in the sector .  We would again like to invite Colombia to 
accept products already approved under the UN ECE 1958 Agreement without any additional 
requirements, and to recognize tests performe d in internationally accredited laboratories. 
275. Secondly, both in our questions and also in our statement on Tuesday we expressed concern 
about the fact that Colombia's alcohol production and sales monopolies ( Licoreras ) in several 
Departamentos  engage in market-distorting and anti-co mpetitive practices that could constitute  WT/TPR/M/265 
 Page 43 
 
 
  discrimination and violate anti-trust laws.  We have presented a follow-up question on this issue 
today, asking for further information on whet her competition rules apply to these entities. 
276. We will submit our follow-up to Colombia in  writing via the WTO Secretariat and hope 
Colombia will provide its replies within one month after the meeting, according to rules of TPRs.  
In conclusion, we hope that this fourth Trade Policy Review meeting has given Colombia some 
additional valuable feedback and advice from other WTO Members on its trade policies and 
measures.  We would like to again acknowledge Co lombia for the progress it has made since the 
last review on several fronts.  We encourage it to further continue w ith its domestic, regional 
and multilateral efforts to facilitate trade, in crease investments, and grow its economy in a 
sustainable way. 
UNITED  STATES 
 
277. Specifically Colombia's comments on reference prices was helpful, however I would like to 
further clarify this issue, and request some  additional information as well.  In response 
to US question No. 6, Colombia noted the existences  of reference prices for certain products.  Please 
confirm that all reference prices are used only as a risk-assessment tool and are not actually used to 
determine customs values for imports, or to de termine the amount of duties owed.  Also, please 
provide a list of those products, by HTS number, for which Colombia uses such reference prices. 
278. We do have one additional follow-up question wi th respect to technical regulations.  The 
report noted that the National Accreditation Organi zation of Colombia (ONAC) is a member of the 
International Accreditation Forum but is not yet a signatory to the MLA.  Colombia's response to 
question No. 13 indicated that ONAC hoped to have a favourable decision on becoming a signatory to 
the IAF MLA by March 2012.  As this date has now passed, please provide an update on ONAC's 
status for becoming a full IAF MLA signatory. 
CANADA 
 279. Canada would also like to congratulate Colombia on the progress that they have made since 
the last review, and thank you very much for the answers to our questions.  We just wanted to quickly note that we will have follow-up questions and we  will submit in writing on government procurement 
and we look forward to those answers as well. WT/TPR/M/265 
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  VI. CONCLUDING REMARKS BY THE CHAIRPERSON 
280. I commend the Vice Minister and the Discussant to  make very pertinent remarks this morning 
and many issues which Members had touched on brie fly but comprehensively.  Chairing the meeting 
for the fourth Trade Policy Review of Colombia was personally a rewarding experience.  The Trade 
Policy Review of Colombia has provided an oppo rtunity for us to improve our understanding of 
recent developments in Colombia's trade and trad e-related policies.  I would like to thank Vice 
Minister Duque of Colombia, Amb assador Eduardo Muñoz and the rest  of the delegation of Colombia 
for their constructive engagement in this meeting.   My thanks also go to Ambassador Tim Yeend for 
his excellent participation as discussant, and to the Members for their numerous interventions.  I 
would further like to commend the authorities of Co lombia for the effort made to answer the 
questions received prior to this meeting. 
281. Members generally congratulated Colombia fo r weathering the global crisis well by using 
countercyclical fiscal policies, instead of resorti ng to protectionist trade measures.  Colombia has a 
relatively open trade and investment regime with  few restrictions.  Members urged Colombia to 
continue to deepen the liberalization process th at had been so beneficial to the country. 
282. Members also praised Colombia for having used trade policy to promote sustainable growth 
and for implementing the National Development Plan  2010-2014 with the caption "Prosperity for All" 
which focuses on ensuring that the different levels of society would benefit from growth.  Further poverty reduction remained a challenge, but  the results achieved so far were impressive. 
283. Members expressed their appreciation for Colo mbia's active participation in the WTO, 
particularly in the Doha negotiations;  they acknow ledged that Colombia was a strong supporter of the 
multilateral system.  They noted with satisfaction Colombia's participation as an observer in the 
Agreement on Government Procurement, and urged Colombia to accede to it.  Members also urged 
Colombia to improve its compliance with its WTO notification obligations. 
284. Members noted that Colombia's trade policy thru st since the last review has focused on the 
negotiation of preferential trade agreements so as to secure a stable preferential market access for 
its products.  The authorities expect this to contin ue to diversify exports and attract more foreign 
investment.  Several Members were especially interested in the steps Colombia had taken to implement the US-Colombia FTA. 
285. Similarly, there was a positive assessment of the legal and ins titutional reforms introduced to 
Colombia's competition and government procurem ent framework;  however, Members highlighted a 
number of areas for further improvement, such as the application of SPS and TBT measures. 
286. A close examination of the observations made by the delegations duri ng this review would 
suggest that there are reasons to recommend that the authorities of Colombia consider introducing 
further improvements in certain areas, some of which have been already mentioned by 
the Vice Minister this morning.  The main areas are: 
 - Customs procedures for imports (including rules of origin) and customs 
valuation :  Members commended Colombia for its efforts to facilitate trade through 
the single window.  Nevertheless, they ra ised questions regarding documentation 
requirements and the use of customs agents.  In this regard, Members urged Colombia 
to continue to streamline its customs procedures through the implementation of 
further trade facilitation measures.  Regard ing Colombia's customs valuation system, 
concerns were raised with respect to th e continued use of reference and indicative 
prices as a parameter for checking the repor ted value during customs inspection, and 
the criteria to calculate them.  WT/TPR/M/265 
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   - Tariffs and other import duties :  Members expressed their satisfaction with the 
sharp reduction in Colombia's MFN applied tariffs, one of the most important trade 
policy developments since Colombia's last review in 2006.  Members, however, noted 
that the most recent tariff reduction, which took place in August 2011, was only temporary.  Members urged Colombia ma ke the temporary reduction permanent.  
They sought more information on the a pplication of the CAN (Common External 
Tariff) and on the functioning of the Andean Price Band System. 
  - Non-tariff measures :  Some Members noted Colombia's use of non-tariff measures, 
including import prohibitions, restrictions and licensing.  They urged Colombia to 
simplify and clarify its licensing system.  In general, Members suggested that 
Colombia may reduce non-tariff restrictions. 
  - SPS and TBT :  A number of Members questioned the procedures to establish 
sanitary and phytosanitary measures and tec hnical regulations and pointed out that 
certain sanitary and phytosanitary measures adopted by Colombia could constitute a 
barrier to trade.  Members urged Colombia to eliminate measures that impeded trade and to introduce a clear notification mechanis m so that trading partners could be kept 
informed of all the measures that are in force. 
  - Government procurement :  Members noted the reforms made by Colombia on 
certain aspects of its government procurem ent regime and sought more information 
on the impact of these changes on procurem ent procedures, and on the possibility of 
putting in place a mechanism to deal with pr ocurement-related challenges.  Colombia 
was urged to reconsider the costs to it s economy of using preferences for domestic 
suppliers and was invited to join the WTO Plurilateral Agreement on Government 
Procurement as soon as it is possible. 
  - Incentives :  Pointing out that Colombia had a series of incentive schemes to attract 
investment, promote exports, and protect agriculture and other less advantaged 
sectors, such as micro and small enterpri ses, Members asked whether Colombia had 
assessed the impact of these programmes and determined whether they were 
WTO-consistent. 
  - Intellectual property rights :  Members sought additional information on several 
aspects of the Colombia's intellectual property rights regime.  Members were also interested in knowing the steps taken by Colombia to implement 
the IPR commitments negotiated in the vari ous trade agreements in which Colombia 
participates.  Noting the actions undert aken to strengthen the enforcement of 
intellectual property rights, including through administrative reforms, Members urged Colombia to continue stepping up efforts in this area. 
  - Agriculture :  Members, while recognizing the importance of agriculture for 
Colombia, also noted the support and protection received by that sector.  Mention was 
made of the fact that tariff protection fo r agricultural products was substantially 
higher than for industrialized goods.  Memb ers encouraged Colombia to continue 
liberalizing the agricultural sector by re ducing tariffs, reducing the gap between 
applied and bound tariff rates, and eliminating incentives and any unnecessary 
sanitary and phytosanitary measures. 
  - Services :  Members commended Colombia on its  continuous efforts to liberalize 
trade in services and highlighted the restructuring of the telecommunications regime as a significant measure.  Members encouraged  Colombia to continue in this path, for WT/TPR/M/265 
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  instance, by lowering the nationality requi rements and relaxing the requirements for 
commercial presence in certain services sector s, especially finance, logistics and 
transport. 
  - Investment and FDI :  Members observed that Colombia had been successful in 
seeking to attract FDI to boost economic gr owth and employment, and that most 
sectors were at least partly open to foreign direct investment.  A number of Members emphasized the importance of FDI for Colombia 's future development in view of its 
infrastructure and technological requireme nts and urged Colombia to eliminate 
remaining investment barriers. 
 
287. In conclusion, Members encouraged Colombia to continue with its domestic, regional and 
multilateral efforts to facilitate tr ade, increase investment and prom ote sustainable economic growth.  
This successfully concludes our fourth review of Colombia.  The detailed nature of the questions 
submitted and the numerous interventions attest to Me mbers' interest in Colo mbia's trade policies and 
practices.  I would like once again to thank th e delegation of Colombia, the discussant and the 
Members for contributing to an enlightening revi ew of Colombia's trade policies and practices. 
288. I may also mention the efforts of the Secretar iat to compile a very comprehensive report and 
to organize this review in  a very befitting manner. 
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