Bogota, September 11, 2018: India participates in the 32nd edition of the Bogota International Trade Show or Feria Internacional de Bogota (FIB), this time significantly as Partner Country. The India Pavilion will be organized by EEPC India at the 40th edition of its flagship event, INDEE (Indian Engineering Exhibition), under the aegis of the Ministry of Commerce & Industry, Government of India.
FIB and INDEE await a grand opening on 24 September 2018 in Bogota, Colombia. This five-day event till 28 September would see more than 690 exhibitors and 50,000 professional visitors. The Indian side would comprise over 75 Indian firms representing manufactures/suppliers of Industrial Machinery, Auto Components, Heavy Construction Machinery, Energy, and Wire & Tubes. The exhibitors also include suppliers to auto majors Mahindra & Mahindra, Ashok Leyland, Volvo Eicher, and Isuzu Motors.
At the FIB this year, seven concurrent shows will focus on the energy sector, mining, cables, wires, tubes and valves, plastic, rubber, petrochemicals and packaging, air-conditioning and refrigeration, and heavy and light machinery construction would be present.
Ravi Sehgal, Chairman, EEPC India said: Colombia is Latin America’s oldest and most stable democracy. With more than 46 million citizens, Colombia has the third largest population in Latin America and the 28th largest in the world. Colombia is a free market economy with major commercial and investment ties to countries around the world, including India.
Bilateral trade between the two countries rose by 11.13% to US$1.53 billion in 2017-18 compared to 2016-17. Trade in engineering goods increased from US$385.23 million in 2016-17 to $509 million in 2017-18. We are grateful for the constant support and guidance from the Embassy of India in Colombia, the Embassy of Colombia in India, and the Colombia India Chamber of Commerce & Industry, among others, and branding by IBEF.
Ravi Bangar, Indian Ambassador to Colombia and Ecuador, appreciating this endeavour, said: The relationship between India and Colombia will become stronger in the coming years as our economic, trade and commercial ties deepen. Hero Motocorp is the main Indian engineering presence in Colombia. It has its assembly plant for motorcycles in Villa Rica Free Zone, Cali in Colombia. It employs over 180 Colombian nationals and contributes to the revenues of the municipality, state and the federal government.
India and Colombia have established very special friendships in agriculture, education, science, technology, and medicine, among others. We are looking at strategic alliances in agroindustry, metalworking and engineering services. This is a very special event marking 60 years of diplomatic ties between India and Colombia- said the Colombian Ambassador to India, H.E. Ms Clemencia Forrero Ucros.
Indian and Latin American relations have more recently begun to take on a deeper state-to-state and people-to-people form. This has been evident from an over 19% rise in total trade figure to US$29.33 billion in 2017-18 from US$24.52 billion in 2016-17. Trade in engineering goods, which comprise over 15% of the total trade, rose from US$3.91 billion in 2016-17 to US$4.68 billion in 2017-18 – a 19.7% rise. This underscores the importance of this sector in India-LAC trade, said Mr Aman Chadha, Former Chairman and Chairman of the Committee on Trade with Latin America, EEPC India.