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Doing Business in Colombia

Doing Business in Colombia. Colombia at a Glance. 3 rd largest population in Latin America 440,831 square miles Strategic geographical location Religion: Roman Catholic 95% Language: Spanish (official) Literacy Rate: 94% System of Government: Presidential. Why Colombia?

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Doing Business in Colombia

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  1. Doing Business in Colombia U.S. Department of Commerce International Trade Administration

  2. Colombia at a Glance 3rd largest population in Latin America 440,831 square miles Strategic geographical location Religion: Roman Catholic 95% Language: Spanish (official) Literacy Rate: 94% System of Government: Presidential U.S. Department of Commerce International Trade Administration

  3. Why Colombia? An Economic Miracle • Positive economic growth • Political stability • Major projects • Labor - Educated - Motivated U.S. Department of Commerce International Trade Administration

  4. Why Colombia?An Economic Miracle • Well managed foreign debt • Frequent travel to U.S. • U.S.products preferred • Growing population Photo: New El Dorado Airport U.S. Department of Commerce International Trade Administration

  5. Why Colombia? An Economic Miracle GDP and GDP per capita Source: FMI Source: Trade Source: DANE/Comunidad Andina –CAN- GDP % Source: DANE U.S. Department of Commerce International Trade Administration

  6. Why Colombia? Andean Nations Comparative Chart 2007 GDP Source: FMI GDP per capita estimated data for the year 2007 for members of the International Monetary Fund Trade Source: Comunidad Andina de Naciones –CAN * 2006, Source: CAN, 2007 estimate N/A U.S. Department of Commerce International Trade Administration

  7. Past vs. Present Low investment rates Informal business management practices Security concerns Sustained investment in human resources and IT Improved Corporate Governance - Standards, Social responsibility Improved Security 1990’s Today U.S. Department of Commerce International Trade Administration

  8. Past vs. Present Corruption Protectionism Non- export orientation More transparency Economic liberalization Diversification of Exports 1990’s Today U.S. Department of Commerce International Trade Administration

  9. Strengths Controlled inflation without hyperinflation Increased Peso appreciation Colombia has the longest electoral tradition in the region Education enrollment reached 88% U.S. Department of Commerce International Trade Administration

  10. Challenges Social Economic Obtain a peaceful solution to the internal conflict Defeat corruption in official agencies Overcome peasants’ displacement Reduce poverty Large informal economy Bureaucracy and red tape Sluggish judiciary Tax evasion SMEs lack access to credit U.S. Department of Commerce International Trade Administration

  11. Headlines Security Improving • 2006 homicide rate lowest in 19 years • In last 5 years, kidnapping reduced by 72%, homicides reduced by 37%, terrorist attacks reduced by 63% • By 2007 government demobilized total of 47,000 paramilitary members • Attacks on public infrastructure reduced U.S. Department of Commerce International Trade Administration

  12. Trade Agreements FTA Negotiations with other countries - Colombia and Chile Status: Signed November 2006 - Colombia and Central America Triangle (Honduras, El Salvador and Guatemala) Status: Signed August 2007 - Colombia and Perú with European Free Trade Association EFTA (Switzerland, Norway, Iceland and Liechtenstein) Status: Negotiations began June 2007 - Colombia and Peru with Canada Status: Negotiations began Nov. 2007 U.S. Department of Commerce International Trade Administration

  13. Best Prospects • Safety and Security Equipment • Food Processing and Packaging Equipment • Processed foods • Cotton/ yarns • Wheat/corn/soy/ oilseeds U.S. Department of Commerce International Trade Administration

  14. Best Prospects • Oil and Gas Equipment • GeneralEquipment • Telecommunications • Financial Services U.S. Department of Commerce International Trade Administration

  15. Best ProspectsServices • IT • Construction and Engineering • Distribution • Entertainment • Energy • Consulting • Healthcare U.S. Department of Commerce International Trade Administration

  16. Tips for Success in Colombia • Contact the FCS at the Embassy • Be informed • Identify partners/background check • Use situational awareness for security • Check the “Clinton List”/OFAC website U.S. Department of Commerce International Trade Administration

  17. Additional Information Doing Business in Colombia Colombian market research Trade Fairs in the U.S. Business Service Providers Best Prospect Sectors Feature Your Company on our Website “FUSE” U.S. Department of Commerce International Trade Administration

  18. Additional InformationUseful Links www.export.gov www.buyusa.gov/colombia/en www.proexport.com.co www.amchamcolombia.com.co www.ceacolombia.com www.presidencia.gov.co U.S. Department of Commerce International Trade Administration

  19. Contact Us South Florida U.S. Export Assistance Center U.S. Department of Commerce 200 Las Olas Blvd. Suite 1600 Fort Lauderdale, FL 33301 Tel:  954 356 6640 Ext. 15 Fax: 954 356 6644 5835 Blue Lagoon Drive, Suite 203 Miami, FL 33126 Tel: (305) 526 7425 Ext 22 Fax: (305) 526 7434 Email:  eduardo.torres@trade.gov http://www.buyusa.gov/florida/ http://www.export.gov - Your Partner in Exporting U.S. Department of Commerce International Trade Administration

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