The establishment of diplomatic relations between Colombia and the Soviet Union represents a noteworthy shift in the political interactions of Colombia during the early 20th century. At the helm of Colombia's foreign policy was President Alfonso López Michelsen, who guided the country towards a more diversified approach to international relations. This was born from a context where Latin America was increasingly viewed through a lens of colonization of influence between opposing political ideologies - capitalism and communism. Prior to this official relationship, Colombia had maintained a somewhat cautious stance towards communism, primarily influenced by its ties with the United States and other Western powers.

The official recognition paved the way for an exchange of representatives between the two nations and laid the groundwork for future discussions encompassing economic, cultural, and potentially military cooperation. Noteworthy is the timing of this development, as it coincided with the broader geopolitical tensions of the time and reflected a moment where some Latin American countries began to reassess their relationships with the polarizing superpowers vying for influence in the region. The 1935 accord symbolized Colombia's willingness to engage with a non-Western power, a decision resonant with other regional movements during the period.

Over the subsequent years, Colombia would engage in various practical developments with the Soviet Union regarding trade, which was primarily focused on exports of agricultural products. Cultural exchanges would later emerge, reflecting the Soviet interest in promoting communism ideologically, especially in a region where anti-communist sentiments were particularly strong. This establishment set a precedent that indicated an emerging multipolar world and paved the way for future diplomatic initiatives not just between Colombia and the Soviet Union, but among other Latin American nations as well.