Colombia is the 3rd largest economy in Latin America and is one of the most economically and politically stable countries in the region, making it one of the most attractive countries for foreign investment.
Colombia has a thriving market economy with its main economic areas including financial and professional services, oil, manufacturing, mining and agribusiness. The country has maintained stable economic growth and experienced a post-pandemic boom. The oil and mining industries are the main focal points for attracting foreign capital, with energy, financial, and professional business services also attracting a sizable amount of foreign investment in the last ten years. FDI in Colombia represents around 4% of the country’s GDP and, thanks to updates to the free trade zone regime, Colombia now offers 112 different free trade zones.
Colombia is a signatory to 16 different international trade agreements and has access to more than 60 partner countries through these, including preferential access to the U.S., Europe and the Mercosur trade bloc. 14 Double Taxation Treaties are in place, including with Canada, Mexico, the UK and Spain, and Colombia became an official member of the OECD in 2020.