Colombia and China have established a joint working group to discuss plans for the Latin American country’s admission to the Belt and Road Initiative (BRI). Also known as the “New Silk Road”, the BRI is a massive investment program by the Chinese state in infrastructure projects across the globe.
During a four-day visit to Beijing beginning on October 9, Colombian Foreign Minister Luis Gilberto Murillo met with his Chinese counterpart, Wang Yi, to discuss deepening ties between the two nations.
The new working group will see ministries from both countries discuss further outreach in areas including trade, foreign affairs, tourism and finance.
Minister Murillo’s four-day trip to China marked one year since the signing of a “strategic partnership” between the two countries, in which President Gustavo Petro signaled a desire for closer ties. The largely symbolic partnership is now reinforced by a commitment to practical cooperation between the two nations.
According to France 24Colombia’s government hopes to formally join the Belt and Road Initiative next year, to mark the 45th anniversary of the two countries establishing diplomatic ties. Colombia would be one of the last nations in the region to accept the initiative, which counts 22 Latin American and Caribbean countries as signatories.
Colombia’s top diplomat said on October 10 that he expects the two governments to reach the next stage of negotiations in a few months.
“There are some details we need to discuss to reach an agreement. If we overcome that, we will be ready to move to the next stage, which is the signing of the Memorandum of Understanding. This will take several months,” he said.
Colombia already enjoys close economic ties with China, which is its second largest trading partner after the United States.
Chinese finance is also central to many ongoing infrastructure projects in Colombia. The Asian superpower has a dominant stake in Colombia’s largest hydroelectric dam and is helping finance major rail and road developments. The Chinese capital is also active in the construction of the Bogotá subway and the extensions of the Medellín railway system.
Despite these projects, Colombia is only China’s fifth largest trading partner in Latin America. Entry into the scheme is expected to unlock further investment and trade in areas including telecommunications, ports, water infrastructure, energy and mining.
China has made significant advances in the region in recent decades, with its trade in Latin America growing tenfold over 20 years.
Some observers note that the superpower’s growing ties to Colombia could suggest a distancing from the US, its longtime ally.
Minister Murillo rejected these claims, insisting that Colombia is open to investment from all parties.
“We need a lot of resources, which our allies can provide us, both in the developed north and in countries like the People’s Republic of China,” he said.
