Colombia

The Trade Policy Review Mechanism (TPRM) was first established on a trial basis by the GATT contracting parties in April 1989. The Mechanism became a permanent feature of the World Trade Organization under the Marrakesh Agreement which established the WTO in January 1995.

This is the fifth review of the trade policies and practices of Colombia. During the review period between the beginning of 2012 and the end of 2017 Colombia’s GDP grew at an average annual rate of 3.3% driven chiefly by domestic demand. Having reached annual rates exceeding 4% in 2012-2014 this growth subsided somewhat starting in 2015. In 2017 GDP is estimated to have grown by 1.8%. This slowdown was the result of a decrease in exports particularly oil and other raw materials and a slower growth in domestic demand. Growth is expected to pick up in 2018. In order to stimulate the economy the authorities have launched an economic reform programme which includes tax incentives reductions in tariffs and other taxes changes in the investment regime and increased investment in infrastructure. Although the prospects for economic growth and inflation are favourable a number of structural problems still pose a significant challenge including the need to continue promoting diversification of the economy and reducing poverty.

It is usual for both governments and organizations from the private and civil society sector of developing countries to dedicate more time and resources to bilateral and regional negotiations than to multilateral negotiations. In principle this contradicts the classic theory of trade in which the greatest welfare gains are to be found in the multilateral field and in which preferential trade agreements (PTAs) can lead to trade diversion and welfare losses.

El 10 de agosto de 2018 la OMC hizo público el informe del Grupo especial sobre el caso “Unión europea y sus estados miembros - Determinadas medidas relativas a al sector de la energía”.