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Doing Business in Colombia

U.S. Department of Commerce International Trade Administration

Colombia at a Glance
3rd largest population in Latin America (48 million) Location- 2 coasts Literacy Rate: 94% 5 cities with 1 million+ consumer bases Fastest growing market in Latin America for oil and gas production
U.S. Department of Commerce International Trade Administration

Headlines Government
Democratic Republic President approval 64-54% (as of Sept 2012) Down from 78% in February 2012 Next Presidential Elections: May 2014
U.S. Department of Commerce International Trade Administration

Colombia at a Glance: Demographics


Middle class is a growth indicator for buying power and opportunity for innovation. Percentage of people in 20-40 age group: 20-29 17% 20-34 24% 20-39 31% The middle class represents 35.3% of the total Colombian population
U.S. Department of Commerce International Trade Administration

Colombia at a Glance: Technology Trends


20 % of homes have internet access. There are 21 computers for every 100 individuals. It is increase of 50% since the current government started. 77% of Public schools have internet access. This year the government purchased 321,000 computers for public schools.
U.S. Department of Commerce International Trade Administration

Colombia at a Glance: Technology Trends


Colombia has the lowest cost computers in Latin America (Intel) Colombia is the 2dn growing computer market in LA. (32% from march 2011 to march 2012) 556,311 computer units sold in the last quarter of 2011.

U.S. Department of Commerce International Trade Administration

Next Tier Market under President Obamas National Export Initiative GDP growth of 5.9% in 2011 7.7% in 3rd quarter of 2011 Emphasis on Major projects $26B next four years Direct investment: $13B
U.S. Department of Commerce International Trade Administration

Why Colombia? An Economic Miracle

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 Bogot Two Refinery Modernization projects Ports Cartagena, Salgar, Buenaventura Infrastructure Roads, El Dorado Airport Tourism infrastructure: (e.g, 24 new hotels (4000 rooms) by 2014). Marriott in Cali end of 2013, 6 new hotels in BAQ, Tryp and Wyndham in BOG.
U.S. Department of Commerce International Trade Administration

Market Trends: Major Projects


Government announced USD$ 33 billion for infrastructure works for 2013. Government will invest USD $400 million to turn the Magdalena River into a Water - Highway. Annual freight transportation on the river, will increase from 2 million tons to 8 million tons.
Infrastructure goals against GDP

U.S. Department of Commerce International Trade Administration

Why Colombia?
GDP Growth
1991-2012
8,0

6.7% 6.9%
6,0

5.8% 5.6% 3.9% 3.0% 1.9% 2.0% 0.9% 1.7%

5.3% 4.7% 4.2% 2.7% 3.7%

5.6% 5.0%

4,0

2,0

0.8% 0.8%

0,0
1991 1993 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

-2,0

Asia Crisis
-4,0

ATPDEA Begins

World Financial Crisis

-4.2%
Internal Political and Economical Cirsis
-6,0

Source: DANE/IMF *GDP per capita (nominal value)

U.S. Department of Commerce International Trade Administration

GDP Per Capita Growth


2009-2016
$10.000,0 $9.000,0 $8.000,0

Why Colombia?

$8.816,8 $8.025,1 $8.394,5 $7.294,3 $7.707,9

$7.000,0

$6.980,4
$6.000,0 $5.000,0

$6.359,6 $5.206,6

$4.000,0 $3.000,0 $2.000,0 $1.000,0 $0,0 2009 2010 2011 2012 2013 2014 2015 2016

Source: DANE/IMF *GDP per capita (nominal value)

U.S. Department of Commerce International Trade Administration

Challenges
Social
Obtain a peaceful solution to the internal conflict Defeat corruption in official agencies High displacement rate Reduce poverty

Economic
Large informal economy Bureaucracy and red tape Sluggish judiciary Tax evasion SMEs lack access to credit

U.S. Department of Commerce International Trade Administration

Presidents Obama and Santos announcing the US Colombia FTA April 2012

U.S. Department of Commerce International Trade Administration

Market Trends: U.S.-Colombia FTA


Will help NEI but is NOT a cure-all It can: - Increase exports to Colombia by $1.1 billion - Create/save jobs - - Increase market access for goods and Colombias $166 billion services market - - Non-tariff barriers to trade will be progressively eliminated as FTA enters into force - Improve business climate by reducing corruption and informality
U.S. Department of Commerce International Trade Administration

Agreements implemented: Andean Community (CAN) (Ecuador, Peru, Bolivia) Mercosur (Argentina, Brazil, Paraguay, Uruguay) Mexico Chile Canada USA Ratified: Central America Triangle (Honduras, El Salvador and Guatemala) European Free Trade Association EFTA (Switzerland, Norway, Iceland and Liechtenstein) Pending implementation: European Union U.S. Department of Commerce
International Trade Administration

Colombias FTA Negotiations

Market Trends:

Market Trends: U.S.-Colombia FTA


90% of Colombian products entered the U.S. market duty-free, while U.S. merchandise entering Colombia face tariffs averaging nearly 9%. (APTDEA) 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.

U.S. Department of Commerce International Trade Administration

Market Trends: U.S.-Colombia FTA


73% of the industrial products that originate from U.S., will enter into COLOMBIA duty free.
Category F A ByU C K T Total Already duty free Immediate In 5 years In 10 years In 7 years In 11 years # of Products 160 4,322 400 970 52 1 5,905
U.S. Department of Commerce International Trade Administration

% 3% 73% 7% 16% 1% 0% 100%

TOTAL EXPORTS US - COLOMBIA


Plastics exports vs Total Exports from EEUU to Colombia (USD), 2011
$215.040.712

2%

$14,314,594,567

Total Exports to Colombia (USD) Plastic & Rubber Products (USD)

Source: Foreign Trade Division, U.S. Census Bureau

In 2011, the US exports of plastics and rubber products to Colombia was about 2% of the total exports.
U.S. Department of Commerce International Trade Administration

US COLOMBIA TRADE STATISTICS PLASTICS AND RUBBER PRODUCTS

2010
Imports from Colombia (USD) Exports to Colombia (USD)

2011

Trade Plastics & Rubber Products - USD


$250.000.000 $200.000.000

$ 106,003,152

$ 113,943,431

$150.000.000 $100.000.000

$ 178,737,355

$ 215,040,712

$50.000.000 $0 2010 2011 Export to Colombia (USD)

Source: Foreign Trade Division, U.S. Census Bureau

Imports from Colombia (USD)

The US exports to Colombia increased 20% between 2010 2011


U.S. Department of Commerce International Trade Administration

Market Trends: U.S. Colombia FTA


Previously U.S. auto parts face a 17.4% tariff, building products face a 13.2% tariff and consumers goods face a 15% tariff.
HTS
85129090 (Parts of windshield wipers of a kind used for motor vehicles or cycles) 39252000 (Doors, windows, and their frames) 70133110 (Glassware for table or kitchen purposes)

Base Rate
2.5%

Staging Category
A

5.3% 15%

A A

Non-tariff barriers to trade are progressively eliminated as FTA enters into force. 99% of qualifying industrial and textile goods will become duty free. Most remaining tariffs will be phased out 15 years. 89% of Agricultural goods will become duty free.
U.S. Department of Commerce International Trade Administration

Market Trends: U.S.-Colombia FTA


76% of sales from US to Colombia consists of: Machines and mechanical equipment Organic Chemicals Transport Equipment Minerals & Fuels Plastics and machinery Electrical machinery Agro industrial

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 IT Medical and scientific equipment Refurbished Auto, machinery, medical equipment
U.S. Department of Commerce International Trade Administration

Market Trends: U.S.-Colombia FTA


Imports to Colombia from USA 15 May to Aug 11 2012 (In USD Millions)

U.S. Department of Commerce International Trade Administration

Market Trends: U.S.-Colombia FTA


Some products with highlighted increase (%)from May 2012 to Aug 2012 against the same period in 2011

U.S. Department of Commerce International Trade Administration

Market Practices Tips for Success in Colombia


Be informed Read CCG Use situational awareness for security Colombia: Check the Clinton List/OFAC website Identify partners/background check Include arbitration clause in contracts Be familiar with the laws and regulations Always get legal advice
U.S. Department of Commerce International Trade Administration

Market Practices Tips for Success in Colombia


Language & translate materials Dont 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 in Colombia

USDOC FTA tool: An easy to use tool to find out what tariffs are: http://export.gov/fta/ftatarifftool/ http://export.gov/fta/ftatarifftool/

U.S. Department of Commerce International Trade Administration

Cameron Werker Commercial Counselor


Cameron.werker@trade.gov

Nicole DeSilvis Commercial Attach


Nicole.desilvis@trade.gov

oc.gov
US Commercial Service Unit 3030 Box 5120, DPO, AA 34004 Tel: (571) 383-2519 Fax: (571) 315-2171 www.buyusa.gov/colombia
U.S. Department of Commerce International Trade Administration