April 02, 2002

    India and Colombia have signed a Memorandum of Understanding (MoU) institutionalising a framework for cooperation and collaboration in the Information Technology sector. The MoU which formally establishes a Bilateral Task Force on IT will focus primarily on cutting edge technologies in the IT sector. The MoU while recognising the potential for extensive trade between the two countries in the IT sector, underlines the need to tap the capabilities and opportunities in the sector in a more focussed and comprehensive manner. The scope of cooperation between the two countries as envisaged by the MoU will focus on electronic health, training in IT, information security and cyber crime, HRD progress through virtual education, banking automation, research design and development of IT and electronic commerce inclusive of the e-governance agenda. The MoU was signed by Shri Pramod Mahajan, Union Minister for Parliamentary Affairs, Communication and IT on behalf of Government of India and Dr. Angela Montoyo Holguin, Minister for Communication on behalf of the Republic of Colombia.

    The Bilateral Task Force established by the MoU will identify and facilitate programmes of mutual interest in the sectors agreed upon by the two countries. One of the areas where the Bilateral Task Force is expected to play a pivotal role is the exploration of third country markets by the two countries. The Task Force is expected to play the role of a catalyst to facilitate growth of investments, joint ventures, joint initiatives and technology and market development for business tie-ups. The MoU also intends to implement a technology and industry cooperation programme between the two countries fostering B2B linkages to promote trade and development. The Task Force will also explore the possibility of joint collaboration among the Universities of both the countries. It is understood that the Colombian Government is extremely keen in enhancing cooperation in IT training and education. An important meeting ground in this regard is the Convergence of interest to promote the use of ICT in education and training.

    The MoU is being considered an important initiative in enhancing bilateral ties between the two countries. The IT agenda being pursued by the Government of Colombia offers a wonderful opportunity to Indian IT corporates to not only showcase products and strategies, but also attempt to search new markets and investment opportunities. It may be reiterated that a large business delegation comprising of leading IT corporates from India is accompanying Shri Mahajan on his visit to Colombia as part of his delegation.