The initiative seeks to boost joint development, formalize trade and attract investment in the border region.
The governments of Colombia and Venezuela signed a memorandum of understanding for the creation of a Special Binational Economic Zone (ZEEB), which will initially operate in the border region between Norte de Santander and the Venezuelan State of Táchira.
The agreement signed by the Minister of Commerce, Industry and Tourism of Colombia, Diana Marcela Morales Rojas and the Vice President of Venezuela, Delcy Rodríguez, It was signed within the framework of a new stage of bilateral cooperation, and according to the Government, it is emerging as a milestone in the economic integration of both countries.
The six -page memorandum establishes the general guidelines for the structuring of this project, which seeks to boost legal trade, promote foreign investment and create sustainable development conditions for border communities.
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According to the document, The ZEEB will allow the articulation of public policies in areas such as trade, agriculture, industry, energy, infrastructure, tourism, technology and financial services. In addition, it includes tax, customs and exchange incentives, which facilitate the installation of companies and the generation of formal employment.
“The special zone will be a platform for joint development. It will allow transforming a border historically marked by informality and smuggling into a space for productive integration, legality and innovation,” says one of the separation of memorandum.
Both governments agreed to create a Binational Coordination Committee, composed of representatives of Ministries, State agencies and regional authorities, which will have the task of designing, implementing and supervising the projects that are developed in the ZEEB. This committee will also seek to harmonize labor, tax, customs and environmental standards that will govern in the special area.
The initiative, which has as its initial horizon the second semester of 2025, contemplates the active participation of the private sector, the Chambers of Commerce, social organizations and the local authorities of both nations.
One of its priority objectives is to strengthen border infrastructure, improve road and digital connectivity, and facilitate the transit of goods, services and people with legal certainty.
In economic terms, Zeeb is expected to become an attraction pole for national and international investment, especially in sectors such as agribusiness, renewable energies, light manufacturing and logistics services. The formalization of trade could also directly benefit thousands of workers and small entrepreneurs who operate today in informality.
“We propose to advance in a joint work that allows us, through this special economic zone, to promote productive diversification, generate added value and promote inclusive and sustainable economic development,” said Minister Morales.
This Memorandum of Understanding Se signs in a context of progressive reactivation of diplomatic and commercial relations between Colombia and Venezuelaafter several years of tension.
Both governments have agreed on the need to rebuild bilateral trust and take advantage of the economic potential of their more than 2,200 kilometers of shared border.
The Special Binational Economic Zone represents according to analysts, a specific step towards regional integration and could serve as a model for other similar projects in Latin America.
However, its implementation will depend on the political will of both countries, security in the area and the institutional capacity to execute the proposed actions.
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Colombia and Venezuela agreed to continue working together on the technical and legal details of the project during the next months. The document ends with a declaration of commitment to guarantee citizen participation and respect for human rights in the execution of the special zone.
Source: Integrated information system.
