While the U.S. historically has had the strongest relationship with China, one where the U.S. has the majority of their products manufactured over there.
There has been a push for investment in Columbia as it’s the more convenient option.
At least seven projects can be funded using part of a $5 billion credit line with a US development bank.
Investment in Colombia Means New Projects
The country has been trying to vie for foreign investments by offering tax incentives and making investments easier to do.
The biggest argument Columbia has been making in its favor is the geographic proximity it has to the U.S.
It’s also important to note the relationship that the U.S. and Colombia have had when it comes to foreign investment with each other.
The U.S. serves as Colombia’s largest trading partner, with relations dating back to the 19th century. Due to multiple trading agreements, they have been able to profit off of Colombia’s coffee industry and avoid trading tariffs.
The DFC has a $60 billion war chest to help companies grow into developing markets and boost U.S. foreign policy.
The credit line may be an incentive for U.S. companies to invest in areas in the region that they have neglected, such as infrastructure.
Despite current restrictions put in place by Covid-19, the economic prospects for U.S. investment in Colombia are looking good.
As stated by Santos “ We’re in the most important stage of rebuilding the relationship the U.S. has with Latin America.”
“A relationship not based on assistance, but on trade and investment.”
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