Colombian Minister of Trade, Industry and Tourism Mauricio Gomez Amin met with Singaporean Minister for National Development Alvin Tan in Bogota and pledged to accelerate the internal legislative and judicial approval of the Pacific Alliance free trade agreement with Singapore.
Ratification steps ahead
The trade pact negotiated between Singapore and the Pacific Alliance bloc—comprising Chile, Colombia, Mexico, and Peru—is already in effect for Chile and Peru. Colombia now plans to advance the ratification process before the Congress of the Republic of Colombia and subsequently submit the treaty for judicial review before the Constitutional Court of Colombia.
Singapore posted 5 percent economic growth in 2025. Its GDP per capita reached $98,814, according to World Bank figures.
“We want a Colombia that grows, attracts investment, and competes with the world,” Gomez Amin said. “Singapore proved that a nation can transform its economy with vision, clear rules, talent, and openness.”
Bilateral investment agenda
Beyond the regional free trade accord, Colombia intends to facilitate bilateral dialogue on a Double Taxation Agreement and explore carbon credit market opportunities with Singapore. Gomez Amin stressed that the government seeks to draw foreign capital through investment agency ProColombia to generate domestic employment.
Colombia seeks concrete business deals.
“One of our priorities is to attract investment that turns into companies, projects, and employment in our regions,” Gomez Amin said, adding that Colombia must establish a presence where investors operate, offer clear regulatory conditions, and convert commercial opportunities into executed agreements.
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Source: Colombian
