Gustavo Petro’s official visit to China culminates in an important cooperation pact with Xi Jinping.

The president of Colombia, Gustavo Petro and his Chinese counterpart, Xi Jinping, announced in Beijing the establishment of strategic cooperative relations for the socioeconomic development of both nations.

In the context of the official visit of the Colombian president to the Asian country; Xi Jinping expressed that he was very happy to announce together with Petro “the increase of relations between China and Colombia to a strategic partnership,” as reported by China Central Television.

Furthermore, the Chinese leader stated: “Neither mountains nor seas can distance people with common aspirations. “The vast Pacific Ocean cannot hinder the deep friendship between the Chinese and Colombian people”.

Local production in regional chains

In this strategic cooperation approach, according to the Colombian government, 12 agreements were successfully signed in the economic, investment, commercial, scientific, educational, cultural, technological and environmental sectors.

Likewise, it was planned to increase investment and promote projects in various productive sectors such as green and clean energy, agriculture, manufacturing sector, health, shipyard and aeronautical industry, services based on knowledge and information technologies.

Likewise, both nations reached an agreement to coordinate and promote cooperation in priority projects, and support the investments and financial activities of companies and financial institutions belonging to both economies.

Colombia and China will establish Working Groups

The two leaders agreed to create two Working Groups, one for the fluidity of trade and the other for Investment and Economic Cooperation, under the mechanism of the Joint Commission for Economic and Commercial Cooperation between the two countries.

The Working Group for Trade Fluidity will aim to explore the growth potential of bilateral trade, improve the quality and increase the volume of trade.

The Investment and Economic Cooperation Working Group will promote bilateral economic cooperation and strengthen the investment cooperation mechanism , as detailed after the meeting.

During his visit to China, Petro also met with representatives of Chinese companies interested in investing in Colombia. In particular, he met with the leadership of the CHEC company, in charge, together with the Xi’an Metro Company Limited, of the construction of the first line of the Bogota metro.

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Petro expressed his interest in the Colombian nation assuming full financing of the Bogotá metro. In that sense, the Colombian president also held negotiations with the China Civil Engineering Construction Corporation Consortium (CCECC), in order to relaunch the Colombian railway network.

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“The nation wants to accept 100% financing (for) the metro and it is technically viable, legally also and all the studies can be used. “This would create a profoundly powerful first line for the needs of a city the size of Bogota”, declared the Colombian president.