Colombia is a dynamic and open economy, of growing regional importance and a principal partner for the EU in Latin America. EU-Colombia relations are underpinned by EU economic and development cooperation, the priorities of which are:
These priorities are laid down in the Country Strategy Paper (CSP), with a budget of €160m for 2007-13.
The Mid-Term Review [319 KB] (and [38 KB] ) of the CSP confirmed these priorities.
The EU’s relations with Colombia are built on political dialogue, trade, and development cooperation, and cover a wide range of bilateral, regional and multilateral issues, whilst also helping to address the legacies of its internal armed conflict.
Political and policy dialogue is based on the 1996 Rome Declaration , and a 2009 Memorandum of Understanding . The political dialogue is strengthened and institutionalised through the Political and Cooperation Agreement between the EU and the Andean Community, which is implemented through high-level political and sectoral dialogue meetings at regional or bilateral level.
Colombia is the EU’s fourth most important economic partner in the region, with a trade volume of €11.884 billion. The EU is Colombia's second biggest trading partner. Trade and investment , already burgeoning, will be encouraged through further mutual market opening under a trade agreement between the EU and Colombia (and Peru), initialled in 2011 and to be applied soon.
A bilateral human rights dialogue [254 KB] complements relations between the EU and Colombia.