Colombia implements new trade bans and economic growth strategies

The Colombian government has announced several significant policy shifts aimed at economic restructuring and regulatory reform. The Ministry of Environment and Sustainable Development has initiated the process to revoke Decree 973 of 2026, which regulated carbon markets. The decision follows concerns regarding the decree's issuance procedure, specifically noting a lack of concurrence from the Ministry of Finance and pending input from other administrative entities.

In a move to combat unethical labor practices, the government issued Decree 1444 of 2026, prohibiting the import of goods produced through forced or compulsory labor. This regulation aligns with International Labour Organization standards and follows trade tensions with the United States, which recently imposed a 12.5% tariff on certain Colombian products following investigations into forced labor measures.

To stimulate economic growth, the administration has launched the ‘Misión Crecer’ agenda. This plan includes a portfolio of over 70 large-scale projects in infrastructure, energy transition, and agriculture, aiming for a 6% GDP growth target. The government is also pursuing bilateral trade agreements with Singapore and the United Arab Emirates and will host the ‘Milagro Week’ investment forum in New York to seek approximately 75 trillion pesos in international capital.