Colombia and France Signed a New Bilateral Investment Treaty (BIT)
The agreement includes among others, provisions ensuring non- discriminatory treatment between domestic and foreign investors and the free transfer of capital.
After the approval in the respective legislative bodies of the two countries, the BIT shall become effective upon the last notification by the Parties that confirms that the it has been incorporated into domestic law and is valid for 10 years.
According to current trade figures, between 2004 and 2013, France was Colombia’s fourth European investor, at roughly US$ 1.8 billion. Last year, Colombia received US $543.3 million in investment from France. Most of this was directed to industry (69%), financial sector (21%), and real estate (7%). French exports to Colombia tripled over the last 10 years, reaching €1.6 billion.