Austrade Office and Australian Consulate-General for Colombia Trade Minister and Acting Minister for Foreign Affairs Craig Emerson announced today the Australian Trade Commission (Austrade) would open a new office and
manage an Australian Consulate-General in Bogota, Colombia, next year.
“This decision follows improvements in business conditions and increasing levels of
foreign direct investment in response to the Colombian Government’s economic
reform agenda,” Dr Emerson said.
Today’s announcement follows a comprehensive reform of Austrade, unveiled in
May, under which additional Australian Government resources are being employed
in growth and emerging markets.
The newly-reformed Austrade will refocus its trade and investment promotion
activities on emerging and frontier markets in Mongolia, Central Asia, Africa,
western China and Latin America. “The new Austrade office in Bogota is a good example of what we want to deliver with these reforms,” Dr Emerson said.
Colombia is the fourth-largest economy in Latin America, with a GDP of about onequarter that of Australia’s. The country has large mineral and energy reserves, a
strong agricultural sector and a developing industrial base. Annual GDP growth has
been running at about 4.4 per cent in the last decade.
Colombia is also Australia’s largest source of students from Latin America, after
Brazil. About 6,800 Colombian students were enrolled in Australian institutions in
2010.
Austrade has had representation in Colombia through a locally-employed business
adviser for several years. The new office represents a far-reaching expansion of the
agency’s trade, investment, and education promotion activities in Colombia and
Latin America.
“Australia’s commercial activities in Colombia have been growing strongly, led by
companies in mining, energy, agribusiness, engineering and education,” Dr
Emerson said.
“Colombia’s large domestic market and expanding economic integration in the
region means it also offers opportunities for Australian enterprises beyond these
existing industries, including in infrastructure and professional services,” he said.
The new Austrade office will advise on doing business in Colombia, focusing on
identifying trade and investment opportunities for Australian companies and
promoting Australian educational services. It will also offer essential consular
services to Australians in Colombia.