Colombia has 49 million of population. The economy mostly based on the production of primary goods. It stands out in the international arena for the significant growth it has experienced in the last decade in the export of merchandise and the attractiveness it offers to foreign investment. It is the fourth largest economy in Latin America, after Brazil, Mexico and Argentina. In the international classification, it is among the 31 largest in the world.
Colombia is a relatively open, free market economy that is party to many free trade agreements (FTAs) worldwide. It has signed free trade agreements with many of its biggest trading partners including Canada, United States and European Union, and is a founding member of the Pacific Alliance regional trade bloc. Colombia has a free trade agreement with Canada since August 15, 2011 offering new opportunities for Colombian exporters.