embassy of india bogota - confederation of indian...

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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%)


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%

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Man‐made Filaments 3.22 2.52%

Machinery and Mech. Appliances 3.06 2.39%


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%


vii. The principal five export destinations in January – March 2010

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USA

China

Netherlands

Venezuela

Ecuador


viii. The principal five‐import sources in January – March 2010

USA

China

Mexico

Brazil

Germany


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


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


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

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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: [email protected]

2

ITEM: HANDICRAFTS

NAME: KANIKA CHHABRA

COMPANY: ALL HANDICRAFTS EXPORTERS ASSOCIATION


7

3

ITEM: AUTOPARTS

NAME: SAVITHA MURTHY

COMPANY: SAGAS AUTOTECH PVT


4

ITEM: LEATHER

NAME: UDIT BENGANI

COMPANY: MAYUR UNIQUOTERS


5

ITEM: TEXTILES

NAME: MAHESH

COMPANY: EVERGREEN ENTERPRISES


6

ITEM: CHEMICALS

NAME: BHARGAV CHANDELA

8

COMPANY: ORCHEV PHARMA


7

ITEM: COCONUT

NAME: ESWAR IYAPPAN

COMPANY: BR EXPORTERS


8

ITEM: HANDICRAFTS

NAME: AKHILESH NATANI

COMPANY: RASHI HANDICRAFTS


9

ITEM: PHARMA

NAME: SHWETA

COMPANY: KOTHARI PHARMA


10

ITEM: GARMENTS

9

NAME: L SUDHIR

COMPANY: SWANANDI ENTERPRISES


11

ITEM: JEWELLERY

NAME: LOVE RAWAT

COMPANY: LOVE RAWAT


12

ITEM: GARMENTS

NAME: SUMIT SALECHA

COMPANY: SUPER FABRICS


13

ITEM: VENDING MACHINES

NAME: MANAN DANI

COMPANY: VITALE BEVERAGES LTD


10

14

ITEM: GARMENTS

NAME: REHMAN IRAVAT

COMPANY: IRAVAT IMPEX


15

ITEM: JEWELLERY

NAME: AMIT AGARWAL

COMPANY: DAULAT GEMS


16

ITEM: PASTRY

NAME: SUMIT ARORA

COMPANY: SUMIT ARORA


17

ITEM: OIL AND GAS

11

NAME: ANTHONY VIEGAS

COMPANY: METSTAR ENGINEERING


18

ITEM: MADE UPS

NAME: MANJEET SINGH

COMPANY: FINE FURNISHING HOUSE


19

ITEM: STAINLESS STEEL KITCHENWARE

NAME: DHAVAL JAIN

COMPANY: SHREE VALLABH METALS


20

ITEM: FASTENERS

NAME: SONIA AGGARWAL

COMPANY: GDPA INDIA


12

21

ITEM: HANDICRAFTS

NAME: FAHEEM ALEEM

COMPANY: BEAUTY ARTS HANDICRAFTS


22

ITEM: FOOD AGRO

NAME: SUMIT ARORA

COMPANY: RAO BIKA CORPORATION


23

ITEM: OIL AND GAS

NAME: R RAMAKRISHNAN

COMPANY: INDIAN OIL CORPORATION LIMITED


24

ITEM: ELECTRONIC MACHINERY

13

NAME: POOJA PATEL

COMPANY: MCBS


25

ITEM: FINANCIAL IT SERVICES

NAME: SANJEEV NEWAR

COMPANY: AARSH MANAGEMENT SOLUTIONS

[email protected]

26

ITEM: THERMAL POWER PROJECTS

NAME: UNSPECIFIED

COMPANY: TIANA GROUP


27

ITEM: CHEMICALS

NAME: CHINTHAN THAKER

COMPANY: NEWGREKA GREEN SYNT TECHNOLOGIES


14

28

ITEM: CHEMICALS

NAME: UNSPECIFIED

COMPANY: RAINBOW INC


29

ITEM: PHARMA

NAME: PRATHIBA H

COMPANY: FLAMINGO PHARMACEUTICALS


30

ITEM: TOOLS

NAME: REOSELY ASHOKA

COMPANY: ASHOKA MACHINE TOOLS CORPORATION


31

ITEM: LEATHER

NAME: ALI KHAN

15

COMPANY: CLE INDIA


32

ITEM: CERAMIC

NAME: MAULIK SHAH

COMPANY: ULTRAVIOLET INC


33

ITEM: PHARMA

NAME: ARIHANT BAID

COMPANY: GENNEX LABORATORIES

[email protected]

34

ITEM: JEWELLERY

NAME: NADEEM RAHIM

COMPANY: BIBA HANDICRAFTS


35

ITEM: AGRO

16

NAME: GAURANG PANDYA

COMPANY: ABS GROUP


36

ITEM: PHARMA

NAME: TILAK RAJ SINGH

COMPANY: TILAK RAJ SINGH


37

ITEM: MACHINERY

NAME: RAJESH GULATI

COMPANY: SANAL EXPORTS


38

ITEM: UNSPECIFIED

NAME: SWEETU SHAH

COMPANY: SWEETU SHAH


17

39

ITEM: GARMENTS

NAME: MIHAMMED FAIZAN

COMPANY: NATIONAL HANDICRAFTS COOP SOCIETY


40

ITEM: FIBRES AND YARNS

NAME: SAHIL JAIN

COMPANY: SPORTKING INDIA

[email protected]

41

ITEM: FOOD AGRO

NAME: KAMAL GUPTA

COMPANY: SHIV INTERNATIONAL


42

ITEM:

GARMENTS

NAME:

18

UNSPECIFIED

COMPANY:

MOTHERLAND FASHIONS


43

ITEM: SEVERAL

NAME: WOODGRIP INDUSTRIES

COMPANY: RAMNIK PATEL


44

ITEM: JEWELLERY

NAME: MUKESH KAPURIA

COMPANY: SARITA SILVER PLACE


45

ITEM: PHARMA

NAME: MOHIT SHARMA

COMPANY: SOZIN FLORA PHARMA

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46

ITEM: PAPER

NAME: SOUMEN BISWAS

COMPANY: MS CHOICE


47

ITEM: WATER PUMPS

NAME: PRASHANT YADAV

COMPANY: JAI MOTION ENGINEERING


48

ITEM: GARMENTS

NAME: ITI DASHOTTAR

COMPANY: KALAM DELO


49

ITEM: SPICES

NAME: UTPAL SHAH

COMPANY: UTPAL IMPEX

20


50

ITEM: COOKWARE

NAME: ANKIT AWARGAL

COMPANY: UNIQUE METAL INDUSTRIES


51

ITEM: CERAMIC

NAME: DHRUMIL KOTHARI

COMPANY: PARADISE GOUP OF COMPANIES


52

ITEM: FUEL CONSUMPTION

NAME: PRASHANT KOTHARI

COMPANY: INDUSTRIAL ENERGY CONSUMPTION CONTROLLER ASSOCIATES


53

ITEM: SPICES

NAME: DILIP BADHER

COMPANY: YOGESHWAR

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54

ITEM: ESSENTIAL OILS

NAME: BINEESH JOSEPH

COMPANY: MATHA EXPORT INTERNATIONAL


55

ITEM: PHARMA

NAME: ANIL PAWAR

COMPANY: INTER MULTI MEDI SALES


56

ITEM: WATER PURIFIERS

NAME: RICHA DIXIT

COMPANY: OVERSEAS SALES AND MARKETING


57

ITEM: MINERALS

NAME: NAKUL GOYAL

COMPANY: SHREE BS MINING


22

58

ITEM: COSMETICS AND PAPER

NAME: MAYUR N. SHAH

COMPANY: AUTOMOBILE HUB CORPORATION


59

ITEM: MINERALS

NAME: ROHIT BURAD

COMPANY: ROHIT MINERALS


60

ITEM: DETECTIVE SERVICES

NAME: ANIL KHARE

COMPANY: ASCON DETECTIVES NETWORK


61

ITEM: HANDLOOMS

NAME: BEELA RAJESH

COMPANY: HANDLOOM EXPORT PROMOTION COUNCIL


23

62

ITEM: SPICES

NAME: K V RAMAN

COMPANY: PLANTRICH


63

ITEM: MACHINERY

NAME: DEVANG SHAH

COMPANY: PAPER MACHINERIES


64

ITEM: PHARMA

NAME: BARNALI TALAPATRA

COMPANY: EMAMIGROUP


65

ITEM: CLOTH FILTERS

NAME: SOHIL DESHMUKH

COMPANY: KOSLA PROFIT

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66

ITEM: JEWELLERY

NAME: MOHAMMAD RIYAZUDDIN

COMPANY: FR GEMS


67

ITEM: LABEL MACHINERY

NAME: SUNIL MERCHANT

COMPANY: MULTIKO PACKAGING


68

ITEM: JEWELLERY

NAME: BEATRIZ PATIÑO

COMPANY: BEATRIZ PATIÑO


69

ITEM: DEFENSE

NAME: GABRIEL POMBO

COMPANY: GABRIEL POMBO


25

70

ITEM: COTTON

NAME: GABRIEL REYES

COMPANY: JGB


71

ITEM: ADHESIVES

NAME: DANIEL BRADFORD

COMPANY: COMERCIALIZADORA RUV S.A.


72

ITEM: T SHIRTS

NAME: DUVAN DONNEYS

COMPANY: GRUPO M


73

ITEM: MINERALS

NAME: COLOMBIANA DE MINERALES

COMPANY: CATERINE AVILA


26

74

ITEM: CHEMICALS

NAME: JORGE AYALA

COMPANY: CABARRIA Y CIA S.A


75

ITEM: PHARMA

NAME: HARLEY OROZCO

COMPANY: MEDITRAUMA CALI


76

ITEM: TEXTILES

NAME: JUAN LONDOÑO

COMPANY: FABRICATO


77

ITEM: MINERALS

NAME: ROBERTO NEIRA

COMPANY: ROTHERHAM GROUP


27

78

ITEM: WOOD

NAME: PABLO DELGADO

COMPANY: PABLO DELGADO


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