Business in Colombia Bogota. Colombian economy foreign trade

Course summary (Doing business in Colombia)

Doing business in Colombia: economy growth and the political and economic stability. Business opportunities. Foreign direct investment FDI

Some of the most important publications of the world such as the New York Times or The Guardian, have given special attention to the new image Colombia is projecting to the world.

This shift of perception is based on true facts such as the economy growth and the political and economic stability of the country added to the improvement in the security levels, and has produced a positive reaction on the image the country portrays all over the world.

Colombia is one of the most stable economies in Latin America, as shown by its above average steady economic growth that last year reached 6.8%. Macroeconomic indices also reflect the country’s stability. The inflation rate has been substantially reduced over the last few years to reach 4.5%. Foreign debt has been reduced by more than 20% of the GDP in the past few years.

Colombia is known as the Latin American oldest and most stable democracy. According to the World Competitiveness Yearbook, Colombia ranks number-one in the Latin American region in terms of consistent and transparent government policies.

Colombia is strategically located at a middle point between North and South America. Colombia is in the same time zone as the East Coast of the United States which is an advantage compared to other countries as it facilitates Call-Center activities and Business Process Outsourcing (BPO) from Colombia to the entire continent.

Thanks to various Free trade agreements (FTA) and some unilateral tariff preferences, Colombia has access to a 1.2 billion-people market. Free trade Agreements with:

Free Trade Agreements:US - Colombia FTA, Mexico - Colombia FTA, FTA Colombia - Northern Triangle (El Salvador, Guatemala and Honduras), FTA Colombia - Chile, FTA Colombia - Canada, Agreement on Trade Colombia - CARICOM, FTA Colombia - EFTA

Free Trade Agreements of the Andean Community: MERCOSUR (ACE) (Associated), Chile, Mexico, Panama, European Union. Trade relations: India, China, Russia, ATPDEA.

Bogota is the cultural and political center of Colombia, and its leading city in terms of education and investment. Over the last few years more than 600 multinational companies have had excellent results Doing business in the capital of Colombia. Bogota has access to US$29 million market, a 2006 growth of 6.8% and GDP per capita income of $4,238.

Foreign direct investment FDI has grown significantly; in 2006 it stood at US$ 6,295 million. More than 700 multinational companies have investments in Colombia. Of note among them are Procter & Gamble, Johnson & Jonson, 3M, SABMiller, Telefonica and Nestle. Recently, other multinational companies such as Falabella, Millicom Internacional Celullar and Glencore have put their vote of confidence in Colombia.

The country provides investors with the possibility of entering into 3- to 20-year legal stability agreements which ensures that rules related to investment determinants will remain unchanged and will continue to apply for the duration of the agreement.

Proexport took the mission of giving support to potential foreign investors in Colombia and to the already established ones, by promoting investment opportunities and by identifying obstacles in the investment mood always aiming to improvement; tasks that until that moment had been performed by "Convertir".

Invest in Bogota is the investment promotion agency for Bogota, Colombia, founded by the City Government and the Bogota Chamber of Commerce. Their mission is to provide support for investors who wish to locate in Greater Bogota.

Barranquilla is the industrial and harbor center. Is considered as the fourth most important city in the Colombia, with a strategic location, only two and one half hours from the United States and one hour from Panama, with a population close to one million inhabitants and a diversified economy, with strengths in the metal industry, the logistics and the energy industry among others. Barranquilla has more than 25 maritime, fluvial and air ports with facilities for the transportation of all types of cargo through several highways connecting the rest of the country and the world.

Medellín (second largest city in Colombia), is responsible for 8% of national GDP and 25% of the nontraditional exports in the country. It is considered to offer the third best quality of life in Latin America. The Medellín Metropolitan Area produces 67% of the Department of Antioquia's GDP and 11% of the economy of Colombia. One of the largest group in Colombia is the Grupo Empresarial Antioqueño (Antioquian Enterprises Group). The group has an aggregate market capitalization of approximately US $17 billion dollars, and employs more than 80,000 Colombians.

Grupo de Inversiones Suramericana is a holding company, listed on the Colombian Stock Exchange and registered with the ADR-Level I program in the United States, which holds a significant portfolio of investments in leading Colombian companies as well as other important stakes in other countries of the Americas. This portfolio is mainly concentrated in strategic investments in the financial, insurance and social security sectors and is complemented by other investments in services, food, and cement sectors amongst others.

International Economic Relations. Colombia is member of: Andean Community (CAN), MERCOSUR (Associate), Latin American Integration Association (ALADI), Association of Caribbean States (ACS), Union of South American Nations (UNASUR), Latin American and Caribbean economic System (SELA), Mesoamerica project, Pacific Economic Cooperation Council (PECC), Inter-American Development Bank (IDB), Economic Commission for Latin America (ECLAC), Forum for East Asia-Latin America Cooperation (FEALAC), Summit of South American Arab Countries (ASPA), Organization of American States (OEA), United Nations, BCIE, OEI, FAO, G-3, G-77, Rio Group,  IBRD, IFC, International Monetary Fund, IMO, UNCTAD, World Trade Organization, World Bank,

Business, Colombia, Bogota, Colombian, Economy, foreign trade, Exports, Imports, Doing business, economy, political, economic, Business opportunities, foreign, Direct, Investment, FDI, Master, international business