Edwin Palma, Colombian Minister of Mines and Energy, introduces potential investment opportunities at a Colombia-China investment meeting on sustainable transportation and energy transition in Beijing on May 14, 2025. Photo: Liu Caiyu/GT

China and Colombia signed a cooperation plan on the Belt and Road Initiative (BRI) on Wednesday. Signing the cooperation plan with China will promote Colombia's development and allow Colombia to jointly enjoy opportunities with China in the fields of transportation and connectivity, Edwin Palma, Minister of Mines and Energy told the Global Times at a Colombia-China investment meeting in Beijing on Wednesday.

This time, Colombia and China signed agreement to explore new possibilities and space for economic cooperation, Palma said.

"This is not a matter between the two countries, it is a major plan involving China and the entire Latin America. Through specific cooperation, we can overcome the influence brought by the US on Colombia.

Palma told the Global Times he sees more opportunities coming for Colombia in the fields of transportation and connectivity. "It will facilitate the growth of our country's exports to Asia, especially in areas where Colombia has potential. Most importantly, this will drive the development of the 'future economy,' which is the knowledge-based economy," Palma said.

The BRI cooperation with China should also play a role in areas such as artificial intelligence and data centers, as these are the current and future directions of the Colombian economy. In terms of energy, we also hope that this agreement can promote cooperation to achieve both national and global decarbonization goals, Palma told the Global Times.

At the event, Mamria Fernanda, Colombian Minister of Transport, also spoke highly of Colombia's signing of the BRI cooperation plan with China. She told the Global Times it will bring the two countries "closer" and can further promote the development of ties between Colombia and China to a higher level, especially in transportation.

China could play a role in revitalizing the national railway system of Colombia, connecting various regions across the country, especially remote areas, Fernanda told potential Chinese investors at the event.

Approximately 40 Chinese companies attended the China-Colombia investment meeting held on Wednesday in Beijing. Many approached two Colombian ministers after the event, expressing their interest in getting involved. Representatives from prominent Chinese companies such as Huawei, BYD, and State Grid were also present.

Since establishing diplomatic relations 45 years ago, the two countries have made significant strides in economic cooperation. Colombia is China's fifth-largest trading partner in Latin America, while China has remained Colombia's second-largest trading partner for several consecutive years, said China's General Administration of Customs.

At Wednesday's event in Beijing, the Colombian Minister of Mines and Energy sent a clear message that Colombia is seeking more investments from China and even inviting Chinese companies to build factories for solar panels, electric vehicles and charging stations.

We focus on renewable energy sources, such as solar and wind energy. Some Chinese companies are already engaged in solar and wind-related businesses in Colombia. We even dream of having a solar panel factory. We hope that China can build such facilities in Colombia, he said.

Additionally, we have proposed the concept of an "energy community," requiring a large amount of materials and technology, which are areas where China and its enterprises can cooperate. Another direction is electric vehicles, electric charging stations, and the strategic mineral resources related to them, Palma said.

Total trade volume between the two countries reached 149.63 billion yuan in 2024, a 13.1 percent increase from the previous year. It marked the fourth consecutive year bilateral trade has exceeded 120 billion yuan, according to China's General Administration of Customs.

As bilateral trade continues to grow, more high-quality and specialty Colombian products are entering the Chinese market. Colombia has become China's third-largest source of imported coffee and fresh-cut flowers, according to the administration.

Colombia not only wishes these products can increase their market share this year in China, but also expects that products like lemons, pork and poultry and meat can enter China's market, Oscar Felipe Rueda, director of the commercial office of ProColombia in China, told the Global Times.