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Embassy of India
Bogota
No. BOG/201/1/2009 June 15 2010
Monthly Commercial and Economic Report for Colombia, May 2010
i. GDP
GDP growth for 2009 was 0.4%; total GDP in 2009 was US $ 228.61 billion (IMF).
ii. Rate of inflation
Annual inflation 2.07% (May 2010)
Total Trade
US $ 17.83 billion, First quarter of 2010
iii. Total trade in US $ million and its growth to 10 major countries January – March 2010
Country 2010 2009 % of variation
USA 6,322.93 4,811.65 31.41%
China 1,637.97 971.81 68.55%
Mexico 895.83 670.41 33.62%
Brazil 788.63 721.74 9.27%
Ecuador 549.23 474.88 15.66%
Germany 479.23 435.61 10.01%
Japan 345.07 298.71 15.52%
Argentina 337.92 264.09 27.96%
2
Canada 281.60 242.58 16.08%
South Korea 234.15 209.62 11.70%
Source: Colombian Customs Agency
iv. India‐ Colombia Bilateral Trade ( January – March 2010 as compared to January – March 2009)
Exports to Colombia : US $ 127.98 mn (US $ 120.71 mn in 09);
Imports from Colombia US $ 102.09 mn (US $ 4.36 mn in 09)
Total trade US $ 230.07 million (US $ 125.07 in 2009, increase of 83.95%)
Source: Colombian Customs Agency
v. Top ten items of export from India to Colombia January – March 2010
Item CIF value in US million Dollars
Share in total exports to Colombia
Motorcycles in CKD form 35.69 27.89%
Vehicles other than railways 17.25 13.48%
Cotton yarn and woven fabrics of cotton 15.31 11.97%
Organic Chemicals 11.11 8.68%
Pharmaceutical Products 8.87 6.93%
Miscellaneous Chem. Products 8.19 6.40%
Iron and Steel 4.23 3.30%
Man‐made Staple Fibers 3.56 2.79%
3
Man‐made Filaments 3.22 2.52%
Machinery and Mech. Appliances 3.06 2.39%
Source: Colombian Customs Agency
vi. Top ten items of Import from Colombia by India in January – March 2010
Item FOB Value in US million Dollar Share in total Imports
Mineral Fuels, mineral oils (US $ 64.61 mn in exports of crude oil, US $ 32.87 mn in exports of coal) 97.48 95.49%
Sugars 1.73 1.69%
Natural or Cultivated Pearls 0.74 0.72%
Wood and articles of wood 0.52 0.51%
Aluminium and Articles thereof 0.37 0.36%
Other Base Metals 0.26 0.25%
Copper and Articles thereof 0.21 0.21%
Cocoa and Cocoa Preparations 0.14 0.14%
Iron and Steel 0.12 0.11%
Albuminoidal Substances 0.11 0.10%
Source: Colombian Customs Agency
vii. The principal five export destinations in January – March 2010
4
USA
China
Netherlands
Venezuela
Ecuador
Source: Colombian Customs Agency
viii. The principal five‐import sources in January – March 2010
USA
China
Mexico
Brazil
Germany
Source: Colombian Customs Agency
ix. The principal five export commodities in January – March 2010
Mineral oils and fuels
Natural or cultivated pearls
Coffee
Live trees and other plants
Iron & Steel
5
Source: Colombian Customs Agency
x. The principal five import items in January – March 2010
Machinery and mechanical appliances
Electrical Machinery and Equipment
Vehicles and autoparts
Aircrafts, space crafts and parts
Mineral oils and fuels
Source: Colombian Customs Agency
i) Other important economic news: South Korea and Colombia began their third round of free trade negotiations. The two countries discussed a range of issues such as services and investment; both sides held the first round in Seoul in December. Their bilateral trade reached US$922 million in 2009, with South Korea's exports to the South American country reaching US$797 million. South Korea's main export items include cars and electronic goods, and it imports coffee and resources, such as coal and nickel, from Colombia. Colombia's Rubiales oil field is likely to produce 170,000 barrels of heavy crude a day, up from the 122,500 barrels a day it produces now, state‐controlled oil company Ecopetrol SA (EC, ECOPETROL.BO) said in a statement. The field is operated by Ecopetrol's partner, Toronto‐listed Pacific Rubiales Energy.Ecopetrol gets 60% of the oil produced at the field after royalties are paid to the Colombian government. The state‐controlled company finances 60% of the field's spending and 50% of the investment. Ronald Pantin, Pacific Rubiales's chief executive, recently said he expects the field to produce 210,000 barrels a day by the end of this year.
ii) India‐ Colombia bilateral relations‐ Latest Development
6
Business Conferences during India Fascinante: From the 4th to the 6th of May 2010, Embassy of India with the support of "Association Amigos de la India" organised the event "Fascinating India" at the "Escuela Colombiana de Carreras Industriales ‐ ECCI", which has a strength of 11,000 students. Second Secretary gave a presentation on "How to do business with India". During the event there were conferences on “India and the Future", "Successful Cases Studies on doing business with India" , "India and the Business Culture"
Ambassador visited Cartagena 13‐15 May and addressed a conference on INDIA in the VI Mining and Energy Congress. He also held a press conference in which he highlighted the growing bilateral trade between India and Colombia. His speech was widely covered in leading newpapers and TV News Channels.
Trade Queries for Colombia Received in May 2010
1
ITEM: PHARMA
NAME: DINESH TANDON
COMPANY: HINDUSTAN SYRINGES
Email: hmduk@hmdhealthcare.com
2
ITEM: HANDICRAFTS
NAME: KANIKA CHHABRA
COMPANY: ALL HANDICRAFTS EXPORTERS ASSOCIATION
Email: vp@aheai.org
7
3
ITEM: AUTOPARTS
NAME: SAVITHA MURTHY
COMPANY: SAGAS AUTOTECH PVT
Email: sagas_exim@yahoo.co.in
4
ITEM: LEATHER
NAME: UDIT BENGANI
COMPANY: MAYUR UNIQUOTERS
Email: naswal@mayur.biz
5
ITEM: TEXTILES
NAME: MAHESH
COMPANY: EVERGREEN ENTERPRISES
Email: evergreen83@rocketmail.com
6
ITEM: CHEMICALS
NAME: BHARGAV CHANDELA
8
COMPANY: ORCHEV PHARMA
Email: info@orchev.com
7
ITEM: COCONUT
NAME: ESWAR IYAPPAN
COMPANY: BR EXPORTERS
Email: coirproductsindia@gmail.com
8
ITEM: HANDICRAFTS
NAME: AKHILESH NATANI
COMPANY: RASHI HANDICRAFTS
Email: rashihandicrafts@gmail.com
9
ITEM: PHARMA
NAME: SHWETA
COMPANY: KOTHARI PHARMA
Email: mktg@precikot.com
10
ITEM: GARMENTS
9
NAME: L SUDHIR
COMPANY: SWANANDI ENTERPRISES
Email: manojji2009@gmail.com
11
ITEM: JEWELLERY
NAME: LOVE RAWAT
COMPANY: LOVE RAWAT
Email: love1757_1757@yahoo.com
12
ITEM: GARMENTS
NAME: SUMIT SALECHA
COMPANY: SUPER FABRICS
Email: supertexcn@gmail.com
13
ITEM: VENDING MACHINES
NAME: MANAN DANI
COMPANY: VITALE BEVERAGES LTD
Email: beveragesvitale@gmail.com
10
14
ITEM: GARMENTS
NAME: REHMAN IRAVAT
COMPANY: IRAVAT IMPEX
Email: iravatimpex@gmail.com
15
ITEM: JEWELLERY
NAME: AMIT AGARWAL
COMPANY: DAULAT GEMS
Email: daulatgems@gmail.com
16
ITEM: PASTRY
NAME: SUMIT ARORA
COMPANY: SUMIT ARORA
Email: sumitarorabb@gmail.com
17
ITEM: OIL AND GAS
11
NAME: ANTHONY VIEGAS
COMPANY: METSTAR ENGINEERING
Email: mktg@metstar.in
18
ITEM: MADE UPS
NAME: MANJEET SINGH
COMPANY: FINE FURNISHING HOUSE
Email: finefurnishinghouse@yahoo.in
19
ITEM: STAINLESS STEEL KITCHENWARE
NAME: DHAVAL JAIN
COMPANY: SHREE VALLABH METALS
Email: dhaval@shreevallabh.co.in
20
ITEM: FASTENERS
NAME: SONIA AGGARWAL
COMPANY: GDPA INDIA
Email: sonia@gdpaindia.com
12
21
ITEM: HANDICRAFTS
NAME: FAHEEM ALEEM
COMPANY: BEAUTY ARTS HANDICRAFTS
Email: mail@beautyarthandicraft.com
22
ITEM: FOOD AGRO
NAME: SUMIT ARORA
COMPANY: RAO BIKA CORPORATION
Email: contact@raobikacorp.com
23
ITEM: OIL AND GAS
NAME: R RAMAKRISHNAN
COMPANY: INDIAN OIL CORPORATION LIMITED
Email: ramakrishnanr2@iocl.co.in
24
ITEM: ELECTRONIC MACHINERY
13
NAME: POOJA PATEL
COMPANY: MCBS
Email: imports@mcbsintl.com
25
ITEM: FINANCIAL IT SERVICES
NAME: SANJEEV NEWAR
COMPANY: AARSH MANAGEMENT SOLUTIONS
deepak.nair@aarshmanagement.com
26
ITEM: THERMAL POWER PROJECTS
NAME: UNSPECIFIED
COMPANY: TIANA GROUP
Email: tianagroup@tianagroup.com
27
ITEM: CHEMICALS
NAME: CHINTHAN THAKER
COMPANY: NEWGREKA GREEN SYNT TECHNOLOGIES
Email: sumitra.shikhare@newreka.co.in
14
28
ITEM: CHEMICALS
NAME: UNSPECIFIED
COMPANY: RAINBOW INC
Email: office@rainbowinc.co.in
29
ITEM: PHARMA
NAME: PRATHIBA H
COMPANY: FLAMINGO PHARMACEUTICALS
Email: pratibha@flamingopharma.com
30
ITEM: TOOLS
NAME: REOSELY ASHOKA
COMPANY: ASHOKA MACHINE TOOLS CORPORATION
Email: sales@ashokamachines.com
31
ITEM: LEATHER
NAME: ALI KHAN
15
COMPANY: CLE INDIA
Email: sp@cleindia.com
32
ITEM: CERAMIC
NAME: MAULIK SHAH
COMPANY: ULTRAVIOLET INC
Email: maulik1611@gmail.com
33
ITEM: PHARMA
NAME: ARIHANT BAID
COMPANY: GENNEX LABORATORIES
genex@gmail.com
34
ITEM: JEWELLERY
NAME: NADEEM RAHIM
COMPANY: BIBA HANDICRAFTS
Email: nadeem302@gmail.com
35
ITEM: AGRO
16
NAME: GAURANG PANDYA
COMPANY: ABS GROUP
Email: absgroup123@vsnl.net
36
ITEM: PHARMA
NAME: TILAK RAJ SINGH
COMPANY: TILAK RAJ SINGH
Email: tilakraj@bioplus.in
37
ITEM: MACHINERY
NAME: RAJESH GULATI
COMPANY: SANAL EXPORTS
Email: sanal@ndb.vsnl.net.in
38
ITEM: UNSPECIFIED
NAME: SWEETU SHAH
COMPANY: SWEETU SHAH
Email: tulipenterprise1@yahoo.com
17
39
ITEM: GARMENTS
NAME: MIHAMMED FAIZAN
COMPANY: NATIONAL HANDICRAFTS COOP SOCIETY
Email: babus.hms@gmail.com
40
ITEM: FIBRES AND YARNS
NAME: SAHIL JAIN
COMPANY: SPORTKING INDIA
genex@gmail.com
41
ITEM: FOOD AGRO
NAME: KAMAL GUPTA
COMPANY: SHIV INTERNATIONAL
Email: kamalsps1964@rediffmail.com
42
ITEM:
GARMENTS
NAME:
18
UNSPECIFIED
COMPANY:
MOTHERLAND FASHIONS
Email: mothermlf@gmail.com
43
ITEM: SEVERAL
NAME: WOODGRIP INDUSTRIES
COMPANY: RAMNIK PATEL
Email: info@woodgrip.com
44
ITEM: JEWELLERY
NAME: MUKESH KAPURIA
COMPANY: SARITA SILVER PLACE
Email: saritasilver1@gmail.com
45
ITEM: PHARMA
NAME: MOHIT SHARMA
COMPANY: SOZIN FLORA PHARMA
19
Email: mohit.sharma@sozinpharma.com
46
ITEM: PAPER
NAME: SOUMEN BISWAS
COMPANY: MS CHOICE
Email: choiceexport.biswas@gmail.com
47
ITEM: WATER PUMPS
NAME: PRASHANT YADAV
COMPANY: JAI MOTION ENGINEERING
Email: info@thejetix.com
48
ITEM: GARMENTS
NAME: ITI DASHOTTAR
COMPANY: KALAM DELO
Email: expo@kalamdesigns.com
49
ITEM: SPICES
NAME: UTPAL SHAH
COMPANY: UTPAL IMPEX
20
Email: a.parikh@jayeshgroup.com
50
ITEM: COOKWARE
NAME: ANKIT AWARGAL
COMPANY: UNIQUE METAL INDUSTRIES
Email: umi.pressurecooker@gmail.com
51
ITEM: CERAMIC
NAME: DHRUMIL KOTHARI
COMPANY: PARADISE GOUP OF COMPANIES
Email: paradiseea@gmail.com
52
ITEM: FUEL CONSUMPTION
NAME: PRASHANT KOTHARI
COMPANY: INDUSTRIAL ENERGY CONSUMPTION CONTROLLER ASSOCIATES
Email: prashant@ieccassociates.com
53
ITEM: SPICES
NAME: DILIP BADHER
COMPANY: YOGESHWAR
21
Email: dilip.badher@gmail.com
54
ITEM: ESSENTIAL OILS
NAME: BINEESH JOSEPH
COMPANY: MATHA EXPORT INTERNATIONAL
Email: info@mathaexports.com
55
ITEM: PHARMA
NAME: ANIL PAWAR
COMPANY: INTER MULTI MEDI SALES
Email: anilimms@yahoo.co.in
56
ITEM: WATER PURIFIERS
NAME: RICHA DIXIT
COMPANY: OVERSEAS SALES AND MARKETING
Email: rdixit@kent.co.in
57
ITEM: MINERALS
NAME: NAKUL GOYAL
COMPANY: SHREE BS MINING
Email: nakulgoyal639@gmail.com
22
58
ITEM: COSMETICS AND PAPER
NAME: MAYUR N. SHAH
COMPANY: AUTOMOBILE HUB CORPORATION
Email: automobilehubcorp@yahoo.com
59
ITEM: MINERALS
NAME: ROHIT BURAD
COMPANY: ROHIT MINERALS
Email: rohitminerals.burad@gmail.com
60
ITEM: DETECTIVE SERVICES
NAME: ANIL KHARE
COMPANY: ASCON DETECTIVES NETWORK
Email: marketing@ascondetectives.com
61
ITEM: HANDLOOMS
NAME: BEELA RAJESH
COMPANY: HANDLOOM EXPORT PROMOTION COUNCIL
Email: hepc@hepcindia.com
23
62
ITEM: SPICES
NAME: K V RAMAN
COMPANY: PLANTRICH
Email: plantorganspice@gmail.com
63
ITEM: MACHINERY
NAME: DEVANG SHAH
COMPANY: PAPER MACHINERIES
Email: info@papermachineries.com
64
ITEM: PHARMA
NAME: BARNALI TALAPATRA
COMPANY: EMAMIGROUP
Email: barnalit@emamigroup.com
65
ITEM: CLOTH FILTERS
NAME: SOHIL DESHMUKH
COMPANY: KOSLA PROFIT
24
Email: kpplfilters@puritytex.com
66
ITEM: JEWELLERY
NAME: MOHAMMAD RIYAZUDDIN
COMPANY: FR GEMS
Email: info@mathaexports.com
67
ITEM: LABEL MACHINERY
NAME: SUNIL MERCHANT
COMPANY: MULTIKO PACKAGING
Email: kpplfilters@puritytex.com
68
ITEM: JEWELLERY
NAME: BEATRIZ PATIÑO
COMPANY: BEATRIZ PATIÑO
Email: bpatino40@hotmail.com
69
ITEM: DEFENSE
NAME: GABRIEL POMBO
COMPANY: GABRIEL POMBO
Email: gapomgo1119@gmail.com
25
70
ITEM: COTTON
NAME: GABRIEL REYES
COMPANY: JGB
Email: andres.reyes@jgb.com.co
71
ITEM: ADHESIVES
NAME: DANIEL BRADFORD
COMPANY: COMERCIALIZADORA RUV S.A.
Email: extruv@gmail.com
72
ITEM: T SHIRTS
NAME: DUVAN DONNEYS
COMPANY: GRUPO M
Email: grupo360g@gmail.com
73
ITEM: MINERALS
NAME: COLOMBIANA DE MINERALES
COMPANY: CATERINE AVILA
Email: gerencia@colombianademinerales.com
26
74
ITEM: CHEMICALS
NAME: JORGE AYALA
COMPANY: CABARRIA Y CIA S.A
Email: joayala@cabarria.com
75
ITEM: PHARMA
NAME: HARLEY OROZCO
COMPANY: MEDITRAUMA CALI
Email: MEDITRAUMA1@hotmail.com
76
ITEM: TEXTILES
NAME: JUAN LONDOÑO
COMPANY: FABRICATO
Email: jlondono@fabricato.com
77
ITEM: MINERALS
NAME: ROBERTO NEIRA
COMPANY: ROTHERHAM GROUP
Email: gerencia@rotherhamgroup.com
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