Recent market representative rate and Colombia’s international treaties on foreign investments

•    10/02/2022: TRM $3.939,31↓   
•    11/02/2022: TRM $3.917,75↓  

For Colombia, entering into bilateral investment promotion and protection treaties, and the inclusion of international investment chapters in previously signed free trade agreements is extremely important in the strategy of attracting foreign investment. Colombia currently has agreements with the EFTA States (EFTA Iceland and Norway), Canada, Chile, China, Spain, the United States, India, Israel, Japan, Mexico, Peru, the United Kingdom, Switzerland and the Northern Triangle (El Salvador, Guatemala and Honduras), and also has signed treaties with Korea, the United Arab Emirates, France, Singapore, Turkey and the European Union.

Colombia moves forward in the hydrogen route

Colombia’s government announced having entered into an MOU regarding hydrogen matters between Colombia and the Netherlands. The MOU will enable Colombia to export and import hydrogen, learn about the logistics necessary for its commercialization and continue to comply with commitments made on climate change. This MOU means progress in Colombia’s goals on the fight against global warming caused by the emission of greenhouse effect gases.

Colombia and Luxemburg sign doble taxation treaty

Colombia´s President announced the signing of an agreement with Luxembourg to avoid double taxation. This treaty’s most important purpose is to control evasion, as well as to promote investment in Colombia. The treaty must follow the procedure provided for in Colombian law for its ratification, and to consequently become enforceable, which includes, among others, the following steps: approval by Congress, review by the Constitutional Court, and sanction and publication by the President of the Republic.