Autor: editor filigrama

India is a country with a dynamic development of the pharmaceutical sector with annual growth of 13%. It is a major producer of generic, biopharmaceutical and relevant advancesin new drugs, also considered one of the most promising markets of the global pharmaceutical industry.

The trade mission Pharma India 2011 is an enterprise program specially designed by the Chamber of Commerce Colombia India for pharmaceutical companies interested in exploring, establish or strengthen business and strategic relationships with companies in India. In turn, the trade mission is an excellent opportunity to meet and connect directly toIndian companies and institutions most important in the pharmaceutical sector. Total immersion in one of the most promising and attractive pharma sector in the world.

On the morning of May 13, 2011 took place in one of the palaces of New Delhi’s presidential compound where is located the Ministry of Finance of India, the ceremony of signing the Agreement for the elimination of double taxation between India and Colombia.

The negotiation process began in 2009 with a round of negotiations held in the Indian capital. However, upon the last change of government in India, the Ministry of Finance of the Asian nation decided to suspend negotiations with the prospect of fiscal reform. This is how the process had to wait months to recover its dynamics and concluded only after an intensive round of discussions at the Bogota mid-2010.

The new administration of President Santos placed special emphasis on the improvementof the texts and their suitability for the signing of the Treaty will now pass the examinationsof the cabinet in the case of India and the Congress of the Republic and the Constitutional Court in case of Colombia.

This agreement completes the construction of Colombia regulatory framework designed to promote investment from India, by having the Bilateral Agreement for the Promotion and Protection of Investments signed in 2009. It is calculated by the Embassy in New Delhi that ten new Indian companies arriving in the country over the next 18 months and will benefit the future of the conditions and facilities that treaties have created for their settlement in Colombia.

Source: Embassy of Colombia in Delhi.

Assam Company India Limited (acyl) bought 70% stake in an oil contract on the block El Triunfo in Colombia in an operation whose preliminary agreement was signed in mid-February with the government. Although the firm did not disclose the amount of the transaction, announced that it plans to drill in July this year to begin production four monthslater, with an estimated investment of between 10 and 15 million dollars, after getting some permits for the National hydrocarbons. Acyl plan and its partners to produce between 6,000and 8,000 barrels of oil.

Source: Portafolio.