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Global News Blog Colombian port caught in crossfire between drug gangs

When Colombia entered a free-trade agreement with the US in 2012, it expected the port of Buenaventura to become a hub for international trade. Instead, its become a criminal battleground.

By Correspondent / March 20, 2014

Colombian Navy/Reuters/File

When Colombia entered into a free-trade agreement with the United States in May 2012, the South American port of Buenaventura was already ramping up for the anticipated increase in bilateral trade with a $450 million modernization plan. [Editor's note: This paragraph was corrected to make clear that the International Finance Corporation, a private lending arm of the World Bank, is not involved in the development of this port. It is providing financial backing to the nearby Sociedad Portuaria Terminal de Contenedores de Buenaventura S.A., a private container terminal.]