Economist from the National University, with a specialization in planning and industry and a master’s degree in economics from the same alma mater, Germán Umaña will take the reins of the Ministry of Commerce in the Government of Gustavo Petro.
He entered the Faculty of Economic Sciences of the National University in 1979. Since then he has stood out for his research and publications that emphasize international economics.
For two years, Umaña directed the Research Center for Development (CID) of the National University of Colombia.
He was director of the Colombo-Venezuelan Chamber and dean of the Faculty of Economic Sciences of the UN.
He was a strong opponent of the Free Trade Agreements (FTA), which he did with his own arguments for the protection of local production.
He has also been a critic of multinationals from developed countries that affected the environment, health, food safety.
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He has numerous writings on Latin American economic integration and the evolution of the productive economy of goods and services, as well as his public policy proposals in this area.
He has conducted research on intra and intersectoral competitiveness, but in particular, the issue of trade agreements has been his strong point.
Within his editorial production, books such as “Integration and Industry” and “The asymmetrical game of trade: The Colombia-United States Free Trade Agreement” stand out.
His resume includes activities such as participation in projects with the Government Secretariat, the Comptroller’s Office and SENA, among others.
He has also had a relationship with the private sector, where he has served as advisor on international issues and automotive policy for the Colombian Automotive Industry Committee.
Similarly, within his expertise we must also add that of having been a consultant to the CAN (Andean community) in matters of bilateral treaties with the European Union.
Challenges for the new minister
If the new trade minister has to focus on something, it is on exports. This segment of the economy, key for many variables to function, had a sharp drop during the covid-19 pandemic, of 21.4%. During 2021, in line with the economic recovery, the country’s external sales rebounded by 32.7%. In the first half of this year, growth was also shown, but underpinned more by the price of oil, a product that leads Colombia’s foreign trade, and is precisely part of what the current government intends to change. That, not to mention that there is an imbalance between what is exported and what is brought from other countries (imports increase a lot in relation to foreign sales), which causes an imbalance in the trade balance.