Why Colombia_ An Economic Miracle

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					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


                      U.S. Department of Commerce
                    International Trade Administration
                   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
              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
                  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
              Market Practices
        Tips 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
             Market Practices
             Tips 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
     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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posted:7/3/2013
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