What is the reason for your visit to the country?
Mine is the first visit of an Indian foreign minister to Colombia. It comes at a time India is increasing its interests and presence in the Latin American region. We are in the process of identifying the right partners to take this objective forward. Last year I also visited Brazil, Argentina and Paraguay. This visit also includes Guyana, Panama and the Dominican Republic. Naturally, we are evaluating them all as part of a regional strategy.
How are relations with Colombia?
India has made energy investments investments in Colombia, which constitute the bulk of its exports. There is a lot of interest in Indian pharmaceuticals and vaccines from India, because they are effective and competitively priced. I see large Indian two-wheelers and the automobile industry is an area of cooperation. At culture, there is a long-standing commitment and I signed the Cultural Exchange Program for 2023-26 with Chancellor Alvaro Leyva.
What were you able to discuss with Chancellor Alvaro Leyva?
In my conversation with Chancellor Alvaro Leyva, we also touched on some political issues. I saw that he had some interest in Indo-Pacific affairs, in BRICS and in working on UN issues. This is good because growing our relationship requires more intense engagement and deeper understanding. Much of the outcome of my visit depends on the extent to which I have been able to enthuse the business community here. I have separately met the Indian community as they serve as a bridge. India is the world's fifth largest economy, whose trade with this region is close to US$50 billion a year. Our investments are growing.In areas such as digital and pharmaceuticals, we have achievements that should be of interest to Colombia. We will certainly have a greater presence in the region, I think in Colombia as well.
Could you specify the main areas of cooperation between India and Colombia?
As I noted, our cooperation is primarily economic, with energy, pharmaceuticals and the automotive industry as sectors leading. Each of these can be expanded. Healthcare and pharmaceuticals, especially, offer a great deal of scope India has used technology and scale to establish a mass health care system.
a mass healthcare system. Our businesses in these areas are innovative and competitive. Agriculture is also another potential growth area. Indian companies are already in the larger region and have demonstrated progress in productivity, seed quality, etc. Other new areas cybersecurity, artificial intelligence and digital governance. It is not clear to me how much priority the Colombian government gives them. My sense is that it will really be business that will drive this relationship.
They are good, but clearly can be better.Our trade volumes are around US$4 billion At comparison, that with Brazil for us is about US$17 billion, with Mexico around USD 9 billion,and with Argentina around USD 5 billion. we must address market access problems and impediments to market access and regulatory impediments. I have been told that pharmaceutical regulation is very cumbersome. Similarly, our automotive industry has its own problems. Obtaining business visas is difficult. Much will depend on these facilities for doing business in Colombia. The Indian companies are looking for the optimal location in the region to invest and produce. We have to see if Colombia can become attractive in this sense.
How is technology cooperation between the two countries?
I feel there are significant possibilities here as well. In the last decade, there has been a boom in innovation, start-ups, technology applications and technology tools in India. Space is one of those sectors, as are drones. I have already talked about artificial intelligence and cybersecurity. Biotechnology is another promising area. But at the end of the day it takes two hands to clap.My visit is India's declaration of of India's interest. We certainly hope that this will be reciprocated.
Let's talk about India on the international scene. How do you see India's presidency of this year's G20?
The theme of our Presidency is 'One Earth, One Family, One Future'. It focuses on the indivisibility of challenges and solutions. We are trying to get the G20 to focus on its intended mandate of global growth and development. Challenges such as energy, food and fertilizer security are critical, as is the growing debt crisis. The concessional financing for green growth is another key priority. Our effort has been to consult with countries outside the G20 so that we can take a holistic view of global issues. Prime Minister Modi convened a 'Voice of the Global South' summit attended by 125 nations. nations participated. Colombia was one of them and the then Minister of Finance Ocampo participated on the topic of finance.