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NEW DELHI Colombian Vice President Francisco Santos said Wednesday at the end of a visit to India that he is convinced that bilateral trade will continue to expand rapidly in the coming years.

Referring to an increase in trade from $350 million in 2007 to more than $1 billion last year, Santos said he is certain this is only the beginning and that India will become a great trade and export partner of Colombia.

Bilateral trade could amount to between $2 billion and $3 billion annually in just a few years and bilateral investment could rise to a similar total, Santos told Efe, citing oil and coal, pharmaceuticals, telecommunications technology and financial services outsourcing as preferential sectors.

Santos sought to woo Indian investors during his visits to the cities of Mumbai, Bangalore and New Delhi, telling business leaders at a lunch Wednesday in the capital that developing countries are the countries of the future.

Speaking to a score of representatives of Indian companies with interests or plans to invest in Colombia, Santos hailed security improvements in the Andean nation under outgoing conservative President Alvaro Uribes U.S.-backed administration and said the countrys pro-investment climate has made it the worlds hottest emerging market and a favored destination for investors.

Leftist rebels who have battled a succession of Colombian governments since the 1960s have suffered numerous setbacks in recent years, including the deaths or killings of top leaders and a sharp decrease in the number of fighters from roughly 20,000 at peak to about 8,000 at present.

Representatives of large Indian companies such as pharmaceutical giant Ranbaxy Laboratories and ONGC Videsh, the international arm of the Oil and National Gas Corporation, as well as members of the NASSCOM software companies association, attended the lunch.

Santos cited Uribes democratic security policy, which seeks to stamp out the drug trade and illegal armed groups, among other stated objectives; investor confidence; and efforts to reduce inequality as the three main pillars that make Colombia a sophisticated destination.

Were a country notable for our enterprising spirit, with a strong democracy and institutions, part of Latin America but different from the rest of Latin America, the vice president said.

He also sought to allay concerns related to a possible move toward the left in Colombia following next months presidential election; the latest polls show Green Party candidate Antanas Mockus leading ruling party hopeful Juan Manuel Santos, the vice presidents cousin.

Antanas Mockus was a very successful mayor of Bogota, Francisco Santos said. a very modern politician whom I would categorize as very much a centrist ... (who) would not change the path Colombia has taken if elected.

The official part of Santos trip included a meeting Wednesday afternoon in New Delhi with Indian counterpart Mohamed Ansari, but he also visited the Energy and Resources Institute earlier in the day and had lunch with company executives.

The meeting with Ansari did not follow an explicit agenda. It was an open discussion to seek areas for cooperation. the vice presidents visit is aimed at attracting investment, a source at Colombias embassy in New Delhi told Efe.

The vice president traveled to India with his chief of staff, German Manga, senior foreign ministry officials Liliana Uribe and Olga Bula, as well as a small group of business leaders.

Liliana Uribe will cap off the visit by Santos who traveled Wednesday night to China by signing a memorandum of understanding to facilitate bilateral trade and investment during a two-day Indian-Latin American business forum in New Delhi.

To date, India and Colombia have signed a score of bilateral agreements, including MOUs in areas such as science, transportation and energy and agreements between regional institutions and chambers of commerce.

Bilateral economic ties are clearly on the rise, with the number of Indian companies investing in Colombias oil, coal, information technology and biopharmaceutical sectors, among others, increasing from five in 2007 to 26 last year. EFE

Colombia Eyes Strong Trade Partnership with India

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