“In an uncertain and challenging global trade scenario, Latin American and the Caribbean (GRULAC) countries have emerged as major economic partners for India. Among GRULAC countries, Colombia holds key to enhance India’s international trade”, said Mr. Guillermo Acevedo, Executive Director, WTC Medellin and WTC Cali at an interactive programme organized by WTC Mumbai. Mr. Acevedo urged Government of India to organize an annual / biennial India-GRULAC conference to promote bilateral trade with Latin America. He pointed that fashion, apparel, wellness and healthcare, BPO and technology are some of the sectors of focus for Indian companies.

During this programme, WTC Mumbai signed MoUs with WTC Medellin and WTC Cali. These three WTCs will work towards establishing science and technology parks in India and Colombia, in addition to undertaking various activities to promote bilateral trade.

Highlighting the importance of the Colombian economy, Mr. Acevedo said, “Colombia is the 31st largest economy in the world and the 4th in Latin America. It has a growing middle class and is the most ideal country in Latin America to do business with as per the ‘Doing Business 2017’ report. It has the lowest FDI barriers in the region.” Emphasizing the role of WTC Medellin and WTC Cali in supporting the Pacific Alliance, a Latin American trade bloc formed by Chile, Colombia, Mexico and Peru, he said “We are supporting the Pacific Alliance strategy and the governments along with the other WTCs in Latin America are devising strategies to enhance international trade.” 

Mr. Acevedo was in Mumbai on an invitation from the Ministry of Commerce, Government of India to participate in a textile programme.

Earlier in her welcome Address, Ms. Rupa Naik, Senior Director, WTC Mumbai, emphasized on India’s international trade and the focus on diversifying its trade partners. She added that within LAC countries, Colombia can serve as India’s gateway to Latin America. She also spoke on the importance of SDGs in trade, investment and exports and added that all WTC Mumbai programmes are organized to address 17 SDGs effectively.

Photo Caption:
Mr. Guillermo Acevedo, Executive Director, WTC Medellin and WTC Cali and Ms. Rupa Naik, Senior Director, WTC Mumbai exchanging MOUs during an interactive discussion organized by WTC Mumbai