Colombia
Published on Nov 20, 2015
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PRESENTATION OUTLINE
Colombia at a Glance
- Fourth-largest economy in Latin America, third-largest population
- Middle class is 35.3% of population and growing
- 31% of population between 20-39
- GDP growth at 4.7% per annum for the last 10 years
- More than US$20 billion spent on U.S. exports in 2014
Photo by peripathetic
Landscape
- Bogota, Medellin, Cali, and Cartagena each have their own American Chamber of Commerce and unique market opportunities, without giving up proximity
- Only country in South American with access to two coasts
Photo by NapaneeGal
2012 U.S.-Colombia FTA
- Eliminated tariffs on 80% of U.S. exports--all other tariffs are being phased out
- Additional provisions: legal stability and arbitration, intellectual property rights, & access to service markets and re-manufactured goods
- Other FTAs signed with E.U., South Korea, Costa Rica, Panama, and Israel
Photo by Nino.Modugno
Foreign Investment
- Key areas of U.S. investment: coal mining, oil and gas, consumer goods, high tech, and tourism/franchising
- Some major U.S. investors: Drummond, General Electric, General Motors, Kraft, Microsoft, Pfizer, and Marriott
Photo by Luz Adriana Villa A.
Opportunities
- Public works: project financing, public works subcontracting, logistics, etc.
- Airport upgrades: Dorado & Baranquilla
- Refinery modernization
- Ports at Cartagena, Salgar, & Buenaventura
- 8,000 km of new roads
- Tourism infrastructure
Photo by NapaneeGal
Other U.S. Export Opportunities
- Cotton, wheat, & corn soy products
- Automotive parts & accessories
- Tourism & franchising
- Computer & IT
- Plastic materials and resins
- Electrical power systems
- Education
- Equipment
U.S.-Colombia Exports
Photo by ecstaticist
Challenges
- Government procurement framework
- Drop in oil prices
- Legal services for licensed firms only
- Economic needs tests and residency requirements
- Lax enforcement of intellectual property rights
- Some customs duties
Photo by NapaneeGal
