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Business Profile
Economy: Agriculture is extensive and varied, and accounts for 75 per cent of export earnings. Coffee has traditionally been the principal crop (Colombia is the world’s second-largest producer), but as production has declined and prices fallen, other products have partially replaced it, including sugar, bananas, cut flowers and cotton. Illegal farming of cocoa is also widespread in the more remote parts of the country. The country is self-sufficient in consumer goods and exports of manufactured goods – textiles, leather goods, metal products, chemicals, pharmaceuticals and cement – have been steadily increasing. Colombia has sizeable oil reserves, which are now on stream. Coal deposits are the largest in Latin America, although development of these has been slow. Recent economic performance has been average, with two per cent growth, six per cent inflation and a small trade surplus in 2001. The biggest cloud over the Colombian economy remains the ongoing internal conflict. Colombia is a member of the Andean Pact and of the Asociación Latinoamericano de Integración (ALADI), which is seeking to regularise tariffs throughout South America. In addition, Colombia is establishing a three-country free trade zone with Venezuela and Mexico. The USA is Colombia’s largest trading partner; Germany, Japan and Venezuela follow.
Business: Business people are expected to dress smartly. English is widely understood in many business circles; the Colombian Ministry of Foreign Affairs has an official translation service, and there are a number of commercial interpreter services. A command of Spanish is always appreciated. Business visitors will sometimes be invited out to dinner, which may be preceded by a long cocktail party, with a meal starting around 2300. The best months for business visits are March to November. The business community generally takes holidays from September to February, the driest months. It is advisable to avoid Barranquilla in June and July. Office hours: Mon-Fri 0800-1200 and 1400-1700.
Commercial Information: The following organisations can offer advice: Confederación Colombiana de Cámaras de Comercio (CONFECAMARAS) (National Chamber of Commerce), Apdo Aéreo 29750, Carrera 13, No 27-47, Oficina 502, Santa Fe de Bogotá (tel: (1) 346 7055; fax: (1) 346 7026; e-mail: agonzalez@confecamaras.org.co; website: www.confecamaras.org.co); or Proexport Colombia, Edificio Bancafe, Calle 28, No. 13A-15, Piso 37, Santa Fe de Bogotá (tel: (1) 341 2066. fax: (1) 561 1776; e-mail: proexport@proexport.com.co; website: www.proexport.com.co) or Colombian Government Trade Bureau, Suite 700, 1901 L Street, NW, Washington DC, 20038, USA (tel: (202) 887 9000; fax: (202) 223 0526; e-mail: coltrade@coltrade.org; website: www.coltrade.org).
Conferences/Conventions: For advice and assistance with conferences and conventions in Colombia, contact the CORFERIAS (National Centre of Trade Fairs), Carrera 40, #22C-67, Santa Fe de Bogotá (tel: (1) 337 7676; fax: (1) 337 7271; e-mail: info@corferias.com; website: www.corferias.com).
Copyright © 2003 Columbus Publishing Ltd.
Terms and Conditions apply.
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