Another partnership signed between the governments of Colombia and Brazil can increase exports and commercial transactions between the two countries. On the 19th, the official visit of Colombian President Ivan Duque to Brazil resulted in bilateral agreements, including a Memorandum of Understanding to promote exports and investments. The Memorandum of Understanding aims to establish cooperation between the two parties, promoting commercial exchange between companies, and best practices for promoting exports and fostering investment. According to the document, Apex-Brasil and ProColombia plan to identify areas of mutual cooperation and reciprocal business, seeking partnerships to promote and support the export activity of companies in their respective countries and to provide advice on business opportunities in both countries. According to data from the Foreign Trade Secretariat of the Ministry of Economy, Colombia imported 1.1% of Brazilian exports in 2020, receiving US$ 2.3 billion in products sold to the neighboring country. The trade balance with the Colombians closed last year with a surplus of US$ 976.2 million for Brazil.
Sources: Comex do Brasil/Datamar News