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Andean Group - August 2019

Economic Highlights

COLOMBIA | Growth pact. On 5 August the Colombian government signed a pact with trade unions, establishing 12 agreements to help promote national economic growth. The initiatives covered by the agreement will help create over 850,000 jobs in four years and increase the concerned sectors’ exports from US$6.7bn in 2018 to US$10.3bn in 2022. This is to be achieved through an increase in production, worth Col$13.4trn (US$3.88m) during the four-year period. The agreement was signed by Colombia’s President Iván Duque, Vice President Marta Lucía Ramírez, and 45 union representatives, covering the agriculture, manufacturing, and services sectors.

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