Wednesday, September 14, 2011

Commodities and discontent in Colombia

More on the downside of relying on commodity exports. In Colombia, even the vice president (Angelino Garzón, a former union leader) admits that there are problems serious enough to generate discontent.


To increase investment in oil wells and mines, President Juan Manuel Santos has lured international companies to Colombia by improving security. The government seeks higher metals and oil production while striking a balance with economic and social development, Garzon said.

Some foreign companies investing in Colombia have abandoned the social, labor and environmental “good practices” they follow in their home countries, he said.
“Here they do just the opposite,” he said. “Companies have to revise their practices.”

According to ECLAC, Colombia rebounded from 0.8% GDP growth in 2009 to 4.0% in 2010, and could reach 6.5% in 2011. This is yet another reminder that growth is not everything. Particularly since this complaint is coming from a right-leaning government (assuming others in the government agree with the vice president, which is not guaranteed) hopefully this will constitute a wake-up call.

1 comments:

Vicente Duque 5:59 PM  

Free Trade Agreement of United States and Colombia :

The vicepresident of Colombia is a serious responsible man and should be heard.

The president of Colombia is likable and has performed well.

Colombia has to export commodities now but it would be nice if the country could add better things in the future.

Colombia has the ideal "Thermal Floors", "Microclimates", abundance of different Tropical Thermal Levels and altitudes for growing many exotic vegetables, exotic fruits, exotic flowers and ornamental foliages for flower vases, decorations, etc....

All the things mentioned depend on what God gave : extreme super availability of water, that is plenty of rains in general, and great protection against winds and storms due to three big mountain ranges.

The country also has some deserts, and part of the Amazonian Basin and
the Orinoco River Basin.

The Vicepresident Angelino Garzon is a Great Defender of Civil Rights and the President Juan Manuel Santos is very connected to American Bankers and Powerful Men in Washington.

Colombia being such and "exotic" and "biodiverse" country needs "the social, labor and environmental “good practices” that corporations follow in their home countries"

I sincerely believe that both countries will profit from a balanced and well thought trade agreement.

........

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