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Export Services and Business Opportunities in Colombia

Export Services and Business Opportunities in Colombia. Manny Mencia. Colombia Market Overview . Colombia is the 4 th largest economy of Latin America (U.S. $141 Billion) Population of 44 Million with a large and growing middle class One of the most stable economies in the Americas

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Export Services and Business Opportunities in Colombia

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  1. Export Services and Business Opportunities in Colombia Manny Mencia

  2. Colombia Market Overview • Colombia is the 4th largest economy of Latin America (U.S. $141 Billion) • Population of 44 Million with a large and growing middle class • One of the most stable economies in the Americas • Conservative economic policies lessened impact of global downturn • Economy expected to expand by 4% in 2010 • Thriving democracy with strong governmental institutions • Free trade agreement with the U.S. since 2006

  3. Colombia Market Overview (cont’d) • Colombia is among the U.S. most loyal allies in the world • Strong preference for doing business with American companies • Colombian legal and regulatory systems are generally transparent and consistent with international norms • Government is funding and implementing large infrastructure projects • Much improved security environment throughout the country • Bogota rated in the New York Times, top 50 cities to visit • Increased access to credit, use of credit cards, and flexible payment plans

  4. Florida-Colombia Trade Relationship • Florida’s 2nd Global Trade Partner – Over U.S. $6 Billion in Bilateral Trade • Florida’s 3rd Largest Export Market • $3.8 Billion - Florida Exports in 2009 • $2.1 Billion Total Florida Origin Exports – Up more than 14% through March 2010 • 39% of all U.S. exports with Colombia move through Florida • Also a significant investor in our state

  5. Top Florida Exports to Colombia • Computers & Peripherals • Telecommunications Equipment • Aircrafts, Aircraft Engines & Parts • Office Equipments & Parts • Medical Equipment & Supplies • Construction Equipment & Machinery Parts • Motor Vehicle Parts • Printing Equipment

  6. Best Export Opportunities

  7. Special Projects/Export Opportunities El Dorado-Bogota Airport Expansion • $880 Million capital expenditures out of US $1.2 Billion total project • Demolition and reconstruction on new national terminal • Construction of new international terminal • Construction of new cargo terminal • Construction of new office building • Construction of new maintenance area • Expanded airport will have twice its current capacity • Largest Latin American airport in terms of cargo tonnage

  8. Special Projects/Export Opportunities El Dorado-Bogota Airport Expansion-cont’d

  9. Special Projects/Export Opportunities-(cont’d) • Infrastructure: Expansion of the Transmilenio mass-transit system, rail and fluvial systems. • Oil & Gas: Ecopetrol modernizing Cartagena refinery and building biodiesel facility. • Construction: American hotel chains; Hilton, Hyatt, Marriott, Hard Rock, Four Seasons and Trump have major projects. • Medical Equipment: Supply of diagnostic equipment does not meet existing demand - GoC plans to double acquisition within 10 years. • Education: Colombians prefer to study in the US. Current policies. • Plastics & Resins: No local manufacturing of plastics M&E - Colombia imports ALL • Country Commercial Guide and Market Assessments

  10. U.S. - Colombia Free Trade Agreement: Economic Benefits • Signed by U.S. and Colombia in November 2006. Ratified by Colombia in 2007. Pending ratification in U.S. Congress. • Eliminate tariffs on over 80% of U.S. consumer and industrial exports to Colombia immediately. • All tariffs will phase out in 10 years. • Colombia’s market for services and government procurement would be open to U.S. firms. • Rules protecting the environment, intellectual property and worker’s rights would be strengthened.

  11. Trade Missions • Trade missions are business development trips overseas organized by official agencies designed to promote international business opportunities such as exports sales, foreign direct investment and developing strategic relationships. • Trade missions may include networking events, trade shows, business matchmaking, seminars and site visits

  12. Export Sales Mission to Colombia August 9 – 14, 2010 Bogota & Cartagena Gold Key • $1,750 for both cities • $450 for second rep • $1,050 Bogota only • $750 Cartagena only Delegate • $575 for both cities • $375 for one city

  13. Gold Key: The Registration Process and What is Included Included • One & half days of personalized pre-screened one-on-one business appointments in Bogota • One full day of appointments in Cartagena • Country briefings by the U.S. Embassy • Ambassador’s reception and networking events • Ground transportation to all mission events • Translation services Process • Gold Key registration form • Market assessment/feedback from post • Confirm and process payment • Send collateral, work with post on appointments

  14. Delegate: The Registration Process and What is Included Included • Country briefings by the U.S. Embassy • Ambassador’s reception • Networking events • Transportation to all mission events • Possible additional events Process • Delegate Registration Form • Advise setting up your own appointments

  15. Export Sales Mission to Colombia Partners: Additional Costs EFI has arranged special group rates for participants but are responsible for their own hotel and airfare charges. • AVIANCA Airlines (approx $650). • Marriott Bogota (approx $180/night). • Hilton Cartagena (approx $216/night). • Express Travel will coordinate all air and hotel arrangements with you and assist you with options and preferences.

  16. Preparing for a Trade Mission • Sign-up early on (This allows coordinators to fully vet your products and opportunities • Take time to complete your registration forms • Make sure to provide a full description of your products, specific mission objectives and end users • Take time to discuss your participation with the mission and appointment coordinators • Identify your special needs: • Interpreter for appointments, product translations and audio visuals • Suggest specific companies you want to meet with

  17. During The Mission • Be sure to meet your fellow participants and acquaint them with your company • Honor ALL your appointments. Take plenty of brochures. • Do not schedule your own appointments unless you notify the mission coordinators • Leverage the social events – take lots of business cards • Be prepared to negotiate and adapt • Get to know the local USCS staff • Have fun and get the flavor of the local culture

  18. After The Mission • Follow up promptly on all leads – Flag top leads • Write ‘Thank You’ notes to all • If possible, do not delegate follow-up - personal touch is vital • Be prepared to return and invite prospects to visit your facility • Put all prospects in your mailing lists & stay in touch • Provide your ‘End of Event Report’ promptly

  19. Market Entry Strategies: • Consider securing an agent or distribution in Colombia. • Work on developing a personal relationship with your clients/distributors. • Focus on formality and trust when negotiating agreements and contracts. • Offer after sales service arrangements – warranties and guarantees critical • Prepare to translate sales collaterals – Spanish a plus but not essential

  20. Trade Missions…..

  21. Export Services Provided • Export Counseling Services • Educational Events/Seminars • Trade Missions/Team Florida Missions • Trade Shows • Target Sector Trade Event Grants • Trade Leads • Florida Export Directory • International Office Network

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