Proper after Brazil, Mexico and Argentina, Colombia is the fourth largest economic system in Latin America. It is likely one of the solely nations in South America with two coastlines – the Pacific and the Caribbean. This offers world buyers with an ideal transport benefit. It additionally has had a gentle financial progress and a reasonable inflation which makes it a promising marketplace for exporting to Colombia. Additionally there are 5 distinct industrial hubs within the nation.
With all this optimistic factors, it stands as the newest and rising market offering world companies an ideal alternative to enterprise out into. Right here, let’s talk about the way to export to Colombia – the challenges, alternatives and techniques:
• Current authorities framework requires open bidding and public tenders. There may very well be an absence of transparency and equity in bidding.
• Secondly, solely registered companies beneath Colombian legislation have been even allowed to supply authorized companies. Worldwide legislation companies needed to kind a three way partnership with a neighborhood legislation agency.
• For bidding in Colombian authorities contracts, industrial presence was a requirement.
• For worldwide banking there’s a requirement to take care of industrial presence within the nation. Insurance coverage corporations have restrictions with reference to offering insurance policies beneath sure situations the place insurance coverage insurance policies will not be thought-about equal to financial institution ensures.
Regardless of all of the challenges confronted, Colombia affords world companies with a plethora of alternatives. Let’s talk about a couple of right here:
• Deliberate infrastructure tasks in Colombia would require most or the entire following companies. Undertaking financing, public works sub-contracting, logistics, building tools for public roads and airports.
Another areas of curiosity for worldwide buyers may very well be water therapy, water provide, electrical energy technology, oil and fuel exploration and air pollution management tools.. Transportation tools, safety and protection objects and companies too have plenty of demand on this place.
• Airport companies and improve to the prevailing infrastructure is seen as an ideal alternative for overseas funding right here.
• Key sectors which have all the time attracted consideration to commerce in Colombia are: oil and fuel, petrochemicals, renewable vitality, telecommunications and refineries.
• Different export alternatives embody cotton, wheat, corn, soy merchandise, automotive components, meals and beverage processing and so on.
• Packaging tools and medical tools are additionally a fairly in demand right here.
Earlier than you get into the main points of the way to export to Colombia, it is equally essential to investigate your market entry methods. Listed below are a couple of ideas:
• An agent or consultant or a distributor in Colombia could be your greatest wager. This requires a correct contract to fulfill the Colombian Industrial Code.
• Negotiating contacts with belief and knowledgeable relationship is a should.
• You’ll be able to supply wonderful after gross sales companies as a technique.
• Reasonably priced financing and aggressive pricing may very well be the important thing to your entry as in comparison with others which might be competing for a similar.
• Attending commerce exhibits and promoting there may very well be an ideal approach to make your self identified.
• Lastly, it is extremely important to have the ability to talk in Spanish language.