China's Foton Motor Group signed a preliminary agreement in Bogotá Nov. 2 with Colombiana de Comercio SA to build an auto assembly plant in Colombia. The agreement was signed by representatives of the Colombian Trade Ministry, the Colombian Export Promotion Fund (Proexport), and the vice president of the Chinese group, Wang Xiangyin. The plant, to be built at a cost of some $4 million, will manufacture light vehicles for export to markets within the region. Proexport president Maria Claudia Lacouture said the decision to build the plant "shows the importance that Colombia is gaining...as an investment destination. We are pleased with this show of trust that Foton today is giving the country." (EFE [2], Nov, 4)
On Sept. 6, Colombia's Defense Minister Rodrigo Rivera and his Chinese counterpart Gen. Liang Guanglie met in Bogotá to expand existing defense and security pacts. As part of the pact, China agreed to give $1 million worth of aid for the purchase war material, and the two countries created a program for military officials from both China and Colombia to receive bilateral military training. Rivera said the pact will lead to more efficiency in Colombia's fight against drug gangs and leftist guerillas. (Gov.cn [3], Sept. 7; Colombia Reports [4], Sept. 6)
See our last posts on Colombia [5], China [6] and China in Latin America [7].
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