The 20 year balance for Colombia's foreign trade system is positive. According to the records of the DANE, Colombia's exports increased from USD 7.244 billion in 1991 to reach USD 56.954 billion by the close of 2011. This is an eightfold increase from two decades ago.
In two decades, institutional and policy modernization has brought an eightfold increase to the country's exports and a nine-fold increase in the arrival of foreign investment.
With the internationalization of the economy, Colombia is now a globalized economy, with greater access to other markets, which is bringing greater growth and job creation.
And at the level of foreign investment entering the country in 1994 reached over USD 1.446 billion, but by in 2011, this rose to over USD 13.297 billion. This is a nine-fold increase compared with what was observed in the beginning of the 90's, according to the records of the Bank of the Republic.
These indicators ushered in the commemoration ceremony of the 20 years of the foreign trade system. The event was led by President Juan Manuel Santos Calderón (prime minister of Foreign Trade in 1992), who was joined by the current Minister of Trade, Industry, and Tourism, Sergio Diaz-Granados. The two officials acknowledged the work of the nearly three thousand employees that operate the institution.
The Trade sector comprises the Ministry of Trade, Industry, and Tourism, Proexport, Bancóldex, the National Guarantee Fund, the Superintendent of Corporations, the Superintendent of Commerce and Industry, Colombian Crafts, the Central Board of Accountancy, the Technical Accounting Board, the National Metrology Institute, the Tourism Fund (previously the Tourism Promotion Fund), and the Productive Transformation Program.
The result of this effective, foreign trade system is a more competitive nation when confronting major challenges, such as the various free trade agreements that have been signed in recent years, the growing interest in foreign investment to the country, and the goal of converting Colombia into a world-class tourist destination. (Source: Ministry of Trade Industry and Tourism)