Right after Brazil, Mexico and Argentina, Colombia is the fourth largest economy in Latin America. It is among the only nations in South America with two coastlines - the Pacific and the Caribbean. This gives international buyers with an awful delivery benefit. It additionally has had a gradual commercial enterprise development and a average inflation which makes it a promising marketplace for exportation to Colombia. Also there are 5 distinct industrial hubs inside the nation.
With all this constructive factors, it stands as the most recent and rising market offering international companies an awful alternative to enterprise out into. Here, let's concentrate on how you can export to Colombia - the challenges, alternatives and methods:
Challenges:
• Existing government framework requires open bidding and public tenders. There may very well be an epilepsia minor epilepsy of transparency and equity in bidding.
• Secondly, only registered corporations underneath Colombian legislation had been even allowed to supply authorized companies. International legislation corporations requisite to kind a three way partnership with an area legislation agency.
• For bidding in Colombian government contracts, industrial presence was a requirement.
• For worldwide banking there's a requirement to keep up industrial presence inside the nation. Insurance corporations have restrictions on the subject of offering insurance policies underneath sure circumstances the place coverage insurance policies will not be thought-about up to commercial enterprise institution ensures.
Opportunities:
Despite all of the challenges confronted, Colombia affords international companies with a overplus of alternatives. Let's concentrate on just a couple of right here:
• Planned infrastructure tasks in Colombia would require most or all the following companies. Project funding, public works sub-contracting, logistics, development tools for public roads and airports.
Some different areas of curiosity for worldwide buyers may very well be water therapy, water provide, electricity era, oil and fuel exploration and air pollution direction tools.. Transportation tools, safety and protection objects and companies too have a variety of demand on this place.
• Airport companies and improve to the present infrastructure is seen as an awful alternative for overseas funding right here.
• Key sectors which have all the time attracted consideration to commerce in Colombia are: oil and fuel, petrochemicals, inexhaustible power, telecommunications and refineries.
• Other export alternatives embrace cotton, wheat, corn, soy merchandise, automotive components, meals and drink processing and many others.
• Packaging tools and medical tools are additionally a fairly coveted right here.
Entry Strategies:
Before you get into the main points of how you can export to Colombia, it is equally essential to research your market entry methods. Here are just a couple of ideas:
• An agent or advisor or a distributor in Colombia can be your superlative wager. This requires a correct contract to fulfill the Colombian Commercial Code.
• Negotiating contacts with impression and knowledgeable relationship is a should.
• You can supply wondrous after gross sales companies as a method.
• Affordable funding and aggressive pricing may very well be the important affair to your entry as in comparison with others which can be matched for a similar.
• Attending commerce exhibits and promoting there may very well be an ideal method to make your self recognized.
• Finally, it is extremely important to have the power to talk in Spanish language.
0 Comments