Bogota: an Attractive Market
Bogota Region has a population of more than 11 million inhabitants. In 2021, Bogota reached a GDP of USD 99 billion, higher than many Latin American countries.
Source: DANE, International Monetary Fund.
Access to International Markets
Thanks to the different international Free Trade Agreements (FTAs) in operation, companies based in Bogota Region have access to an extended market of more than USD55 trillion and 1,800 million inhabitants.
Free Trade Agreements in Operation
|
Countries |
Population 2021 |
GDP 2021 |
|
CAN *1 |
63.38 |
368.88 |
|
México |
128.9 |
1,285.5 |
|
MERCOSUR 2 |
269.3 |
2,198.0 |
|
Chile |
19.72 |
331.25 |
|
Canadá |
38.19 |
2,015.98 |
|
Cuba |
– |
– |
|
Venezuela |
27.59 |
44.89 |
|
El Salvador, Guatemala and Honduras |
34.98 |
137.371 |
|
United States of America |
330.66 |
20,939.58 |
|
European Free Trade Association (EFTA)³ |
14.46 |
1,281.79 |
|
European Union 4 |
512.75 |
20,186.79 |
|
CARICOM5 |
6.29 |
56.93 |
|
South Korea |
51.82 |
1,820 |
|
Costa Rica |
5.18 |
61.46 |
|
Pacific Alliance*6 |
182.52 |
1,842.63 |
|
Israel |
9.38 |
467.53 |
1 Colombia, Bolivia, Ecuador and Peru.
2 Brazil, Argentina, Paraguay and Uruguay.
3 Iceland, Lichtenstein (GDP and population information is not available), Norway and Switzerland, Agreement in operation for Lichtenstein and Switzerland.
4 Member states: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom.
5 Trinidad and Tobago, Jamaica, Barbados, Guyana, Antigua y Barbuda, Belice, Dominica, Granada, Montserrat, San Cristobal and Nieves, Santa Lucía and San Vicente and las Granadinas
6 Mexico, Peru, Chile and Colombia
NA=Not available
* GDP and population do not include information about Colombia
Source: International Monetary Fund; Ministry of Trade, Industry and Tourism of Colombia. Calculations by Invest in Bogota.
FTAs Subscribed
|
Countries |
Population 2021 |
GDP 2021 |
|
Panama |
4.34 |
60.12 |
|
United Kingdom |
67.28 |
3,108.41 |
Source: International Monetary Fund; Ministry of Trade, Industry and Tourism of Colombia.
FTAs Currently Being Negotiated
|
Countries |
Population 2021 |
GDP 2021 |
|
Turkey |
84.62 |
795.95 |
|
Japan |
125.37 |
5,103.11 |
|
Canada, United States, Mexico, Costa Rica, Panama, Peru, Chile, European Union (28 countries), Iceland, Norway, Switzerland, Liechtenstein, Turkey, Israel, Pakistan, South Korea, Japan, Hong Kong, Taiwan, Australia , New Zealand and Mauritius |
1,567.59 |
54,491.06 |
|
Pacific Alliance with candidates to associate states |
74.75 |
4,252.82 |
Source: International Monetary Fund; Ministry of Trade, Industry and Tourism of Colombia.
Double Taxation Agreements in Operation
|
Countries |
|
CAN1, Spain2, Chile3, Switzerland4, Mexico5, Czech Republic6, Portugal7, Canada8, India9, South Korea10 |
Bilateral Investment Treaties in Operations
|
Countries |
|
Mexico*, Spain, Chile*, Switzerland, Peru, China, India, Japan |
1 Bolivia, Ecuador and Peru
2 Started operation in July 2008
3 Started operation in May 2009
4 Started operation in July 2009
5 Started operation in August 2012
6 Started operation in December 2013
7 Started operation in December 2013
8 Started operation in June 2011
9 Started operation in July 2013
10 Started operation in July 2013
*The agreements were included in chapters of the respective FTA
Source: Ministry of Foreign Affairs of Colombia.
Updated: (mm/dd/yyyy) 08.12.2022
