In 2023, Switzerland imported goods worth a total of CHF 418 million from Colombia, mainly precious stones and metals and agricultural products. Swiss exports to Colombia amounted to CHF 559 million and mainly comprised chemical and pharmaceutical products, machinery, watches and precision instruments. Swiss direct investments in Colombia amounted to CHF 5.5 billion at the end of 2022. Swiss companies operating in the country employed 13,725 people that year.
Economic relations between Switzerland and Colombia are based on a robust legal framework. A free trade agreement between the EFTA states and Colombia has been in effect since 2011. A joint economic commission, composed of government and private sector representatives from both countries, serves to strengthen bilateral economic and trade relations.
Switzerland and Colombia have also had an agreement on the promotion and mutual protection of investments since 2009 and a double taxation agreement since 2011. In March 2019, Switzerland and Colombia signed an accord to ensure the correct implementation of the double taxation agreement.