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Colombian president hails country's economic recovery
Date: 2010/6/29 Click: 1162
BOGOTA, June 26 (Xinhua) - Colombian President Alvaro Uribe hailed the country's economic recovery Saturday, saying the recovery is "fast, faster than expected."

In a speech in the city of Cartagena, Uribe said the country registered an unexpected growth of 4.4 percent during the first quarter, showing a process of recovery from the international financial crisis and reduction of exports to Venezuela.

"It is a quicker recovery than expected and also hopeful," said Uribe.

Venezuela froze its relations with Colombia in August 2009 after knowing about a military agreement signed between Bogota and Washington, which it regards as a "threat" to military stability in the region.

Colombian companies in Venezuela saw a drop of 70 percent in the bilateral trade in the first quarter of 2010.

However, Colombian exports to the neighboring country were replaced gradually over the past year to Netherlands, Switzerland and China.

"What we have seen in the growth of the economy is that Colombia still has not resolved some structural problems, which just started the process of productive innovation, it is barely opening new markets," Uribe warned.

The National Bureau of Statistics (DANE) revealed last Thursday an unexpected increase in the economy, following positive results in the sectors of construction and mining.
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