Ambassador of Colombia to India, said that the reciprocal tariffs introduced by US have created opportunities for nations
NEW DELHI — Victor Hugo Echeverri Jaramillo, Ambassador of Colombia to India, on Thursday said that the reciprocal tariffs introduced by US President Donald Trump have created opportunities for nations like India and Colombia to forge new alliances.
In an interview with IANS, Ambassador Jaramillo said, "We are facing challenges due to the tariff policies initiated during President Trump's time. Both India and Colombia have been affected by high tariffs. While this is undoubtedly a problem, it also presents opportunities for countries like ours to forge new alliances and explore differential tariff arrangements."
"This trade war won't last forever; it will eventually evolve. For now, though, it gives us a chance to identify new partners and strengthen cooperation," he added.
Highlighting the current trade relations between the two countries, the Ambassador said, "If you look at our current bilateral trade, it largely revolves around the exchange of oil and thermal coal from Colombia, and two-wheelers, agrochemicals, and pharmaceuticals from India. However, there is significant potential for growth. Colombia can increase its exports to India, and India also has a vast market opportunity in Colombia."
Jaramillo also spotlighted Colombia's strategic geographic location, noting that it is situated at the northern tip of South America, providing access to both the Caribbean and the Pacific oceans.
"Bogota's airport is ranked number one in Latin America in terms of passenger and cargo movement, making it a major regional hub," he said.
"Companies that have established operations in Colombia understand that it is one of the most stable economies and political systems in the region. I believe this situation will continue to improve, and while there are challenges now, both our countries can find new opportunities, especially through differential tariff arrangements," he added, highlighting the potential for expanded trade and investment between India and Colombia.