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Colombia is Diversity: People, Products and Opportunities

Colombia is Diversity: People, Products and Opportunities . Why Colombia? An Economic Miracle. Logistics platform Well managed foreign debt Frequent travel to U.S. U.S. products preferred Growing population . Photo: New El Dorado Airport. Market Trends: Major Projects.

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Colombia is Diversity: People, Products and Opportunities

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  1. Colombia is Diversity: People, Products and Opportunities

  2. Why Colombia?An Economic Miracle • Logistics platform • 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

  3. Market Trends: Major Projects • TransMilenio – Bogotá • Two Refinery Modernization projects • Ports – Cartagena, Salgar, Buenaventura • Infrastructure – Roads, El Dorado Airport • Colombia will invest $197 million in its clogged air infrastructure U.S. Department of Commerce International Trade Administration

  4. Market Trends:U.S.-Colombia FTA • Liberalization of products in key sectors such as: • Construction Equipment/Building Products • Aircrafts and parts • Fertilizers • Agrochemicals • Wood • IT • Medical and scientific equipment • Improved access to financial services U.S. Department of Commerce International Trade Administration

  5. Market Trends:U.S.-Colombia FTA • 90% of Colombian products enter the U.S. market duty-free, while U.S. merchandise entering Colombia face tariffs averaging nearly 9%. • FTA will eliminate tariffs for over 80% of U.S. exports of consumer and industrial products (excluding petroleum) immediately upon implementation and 87% within 5 yrs. • The impact of eliminating tariffs and related barriers in Colombia is estimated to increase U.S. GDP by nearly $2.5 billion. • Largely complementary economy (grains vs. tropical fruits; textiles vs. apparel) U.S. Department of Commerce International Trade Administration

  6. Market PracticesTips for Success in Colombia • Language & translate materials • Don’t push for big orders … ease into it • Stay well informed – things change very quickly in Colombia – Info is critical • Be aware that Colombia has its own cultural nuances U.S. Department of Commerce International Trade Administration

  7. Market PracticesTips for Success • Be informed – Read CCG • Use situational awareness for security • Colombia: Check the “Clinton List • Identify partners/background check • Include arbitration clause in contracts • Be familiar with the laws and regulations • Always get legal advice • Learn about the people- Visit U.S. Department of Commerce International Trade Administration

  8. How to Contact US Tanya Cole Commercial Officer Tel: 516-876-7564 / Cell: 631-935-2388 Email: Tanya.Cole@trade.gov www.buyUSA.gov/longisland www.export.gov

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