Despite the drop — from 57th in 2017 to 60th this year — Colombia's overall score in the Global Competitiveness Report actually increasing by 0.1 points to 61.6.
In April, Colombia, Brazil, Argentina, and others suspended their membership in an organization facing leadership issues and no consensus regarding relations with Venezuela.
The agreement intends to give Colombian companies the same access conditions as local firms to the markets of Brazil, Argentina, Uruguay, and Paraguay.
Russia, the United States, and Brazil — three countries with much larger populations — are the only nations that have bought more tickets than Colombia.
Despite high oil prices, Frontera realized just $249.5 million USD in sales in the quarter compared to $316.6 million USD in the first quarter of 2017.