Colombia’s Petition to Join the OECD: The New Kid on the Block?
In the last couple of weeks, Colombia has been in the spotlight when it comes to the global economy. First, President Obama, in his 2011 State of the Union address, assured that the U.S. would enter into deals that would “keep faith with American workers…to promote American jobs,” while pursuing free trade agreements with countries like Colombia and Panama. These remarks revived the discussion in Colombia on possibly entering into trade agreements with the United States; many hemispheric aficionados consider Bogotá to be Washington’s best friend in Latin America.
The proposed U.S.-Colombia free trade agreement, which has been on the back burner, might open new opportunities for Colombian manufacturers and entrepreneurs who had been greatly affected by the Chávez-Uribe diplomatic impasses. While a trade accord may be distant in the works, another step to a future milestone appears to be taking place: the possibility of Colombia joining the Organization for Economic Cooperation and Development (OECD) which is considered by many to be the “club of the wealthiest countries.”
This analysis was prepared by COHA Research Associate Robert Valencia
Blog de Octavio Islas 