Course summary (Business in Colombia)
The Republic of Colombia is one of the most steady economies in Latin America.
Macroeconomic indices also reveal the stability of Colombia. The inflation rate
has been substantially reduced over the last few years to reach 4.5%.
Foreign debt has been reduced by 20% of the Gross domestic product
(GDP) in the past few years.
Colombia is known as the Latin American oldest and most steady democracy.
Colombia ranks 1st
in the Latin American region in terms of consistent and transparent government policies
(World Competitiveness Yearbook).
Some of the most important publications of the world like the New York Times or The Guardian, have given special
consideration to the new image Colombia
is projecting to the world.
The Republic of Colombia is advantageously situated 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.
Bogota is the cultural and political center of the Republic of
Colombia, and its
leading city in education, International trade and Foreign direct
investment (FDI). Over the last few years 700 multinational companies have had excellent results Bogota has access to USD 29 million market, a 2006
growth of 6.8% and Gross domestic product (GDP) per capita revenue of USD 4,238.
Foreign direct investment FDI has grown
considerably. 700
multinational companies have investments in Colombia (Procter and Gamble, Johnson and Jonson, 3M, SABMiller, Telefonica, Nestle ...)
The Republic of Colombia provides investors with the chance of entering into 3- to 20-year legal
stability agreements which guarantees that rules related to
investment determinants will remain unchanged and will continue to apply for the duration of the agreement.
Example of the course Doing business in Colombia:
Proexport took the mission of giving assistance to potential foreign investors in
the Republic of Colombia and to the already established ones, by
promoting International trade and
Foreign direct investment (FDI) 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 supply assistance for investors who wish to locate in Greater Bogota.
Barranquilla is the industrial and harbor center. Is considered as the 4th most important city in the Colombia, with a strategic location, only
2
and one half hours from the United States and one hour from Panama, with a
population of 1 million people and a diversified economy, with
strengths in the metal industry, the logistics and the energy industry among
others. Barranquilla has near 25 maritime, fluvial and air ports with
facilities for the transportation of all types of cargo through several highways
connecting the rest of Colombia and the world.
Medellín (2th biggest city in the Republic of Colombia), is responsible for 8% of
Colombian Gross domestic product (GDP) and 25% of the nontraditional exports in Colombia.
Medellin is
considered to offer the 3th best quality of life in Latin America. The Medellín Metropolitan Area produces 67% of the Department of Antioquia's
Gross domestic product (GDP) and
11% of the economy of Colombia. One of the biggest group in Colombia is the Grupo Empresarial Antioqueño (Antioquian
companies Group).
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 important 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 between others.
- 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 International Trade Colombia - CARICOM,
FTA Colombia - European Free Trade Association
(EFTA)
- Free trade agreements of the Andean Community:
MERCOSUR (ACE) (Associated),
Chile, Mexico,
Panama, European Union. International trade relations:
India, China,
Russia, ATPDEA.
