Australia and Colombia Strengthens Foreign Relationship for Economic Growth
Australia and Colombia’s trading relationship can be a model for other countries of what foreign affairs should be all about. They illustrate what relationship between countries should be—exercising economic support, exploring new markets, and providing opportunities to both sides. And it is because the relationship between Australia and Colombia is founded with a long history of trading.
Their trading relationship can be traced back to the end of the Second World War. This started when Australia appointed its first Ambassador to Colombia. Ever since, Australia and Colombia formed a connection to strengthen their foreign affairs, improving their trade and investment, discussing regional and international issues, and doing developments in cultural and agricultural aspects. Even with geographical division, with continents apart, it did not stop them from building a strong and long-lasting relationship, composing ideal import-export markets.
Their trade has reached its pinnacle when Australia entered into Free Trade Agreement negotiations with Colombia as part of the Alliance (Chile, Colombia, Mexico, and Peru). In 2018, Australia finally launched the Australia-Colombia Policy Dialogue. This is a foreign affair program designed to create a chamber of voices and opinions between entrepreneurs and professionals from both countries to formulate a joint development in business and economy.
This dialogue creates improvement to both countries’ economic standing, by involving experienced professionals and entrepreneurs, who are units to solidify the collective trade industry. Because of this, their foreign affairs reaches new heights, creating opportunities that will benefit the countries’ economy and its people. And for this reason alone, this kind of foreign dialogue should be a template for other foreign relationships.
Colombia has never suffered dramatic economic problems, creating positive growth in the economy since the early 1930s. With a stable history of macro-economic management, Colombia makes a good partner for bilateral relations that involves scaling and exploring new markets. Australia has grasped this opportunity to invest in them and open new windows to further their own development in terms of the global market. And with Colombia's international reputation of honoring the financial obligation, a bilateral relation will mean an undoubted partnership.
Even geographically disadvantageous for some, Australia knows that Colombia is a gateway to different unique businesses, with a good location in Latin America and the Caribbean coast close to Miami. And as a country that provides energy for America and some parts of the world, Colombia has an extensive source of mineral and energy resources, making it a place to be explored for economic growth. Aside from this, Australia and Colombia create new business sectors to explore their relationship and impose collaboration—with sectors like tech, manufacturing, accommodation, and marketing.
The Australia-Colombia relationship does not only provide growth to its collective economy. Their stable relation allows startups to enjoy growth and rapidly scale their businesses, composing an entrepreneurial landscape that increases more opportunity. With such foreign relationship that produces economical support, it establishes an international platform for the expansion of new markets.
To know more about Australia-Colombia Dialogue, please click here.