Economy

Consistent macroeconomic growth in the past decade, averaging 4.5% from 2002 to 2012, has renewed investment confidence in Colombia. Strong economic performance is expected to continue with the IMF anticipating GDP growth of around 4.1% in 2013. With a liberal legislative framework for free trade zones and high investor protection, Colombia attracted the second-highest investment flows in the region as a percentage of GDP in 2012, at 26.2%. Five key engines for growth – mining, innovation, housing, infrastructure and agribusiness – are all set to receive a major boost as part of the government’s National Development Plan. This chapter contains interviews with Juan Pablo Rivera, President, Bogotá Free Trade Zone; Sergio Díaz-Granados Guida, Minister of Commerce, Industry and Tourism; Karel De Gucht, EU Trade Commissioner; Gerardo Hernández Correa, Superintendent, Financial Superintendence of Colombia; Rubens V. Amaral Jr, CEO, Banco Latinoamericano de Comercio Exterior; Jim O’Neill, Chairman, Goldman Sachs Asset Management; and a viewpoint from Douglas L Peterson, President, Standard & Poor’s Rating Services.