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on 16 June 2014

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Transcript of Colombia

Vol XCIII, No. 311ff
Republic of Colombia
Doing Business in Colombia
Economic History
Case Studies
Fourth largest economy in LA
Only country in LA with access to two sea coasts
U.S.-Colombia FTA
Growing middle class (35.3% of pop.)
Five major commercial centers
Monday, March 24th, 2014
The Basics
Economics Prospects
Colombia Today &

- Borders Panama, Venezuela, Brazil, Peru, and Ecuador
- Land Area: 401,042 sq mi
- Population: 45,239,079
-Largest cities:
Santafé de Bogotá 8,262,000
Medellín 3,497,800
Cali 2,352,000

More Facts and Figures
mestizo 58%, white 20%, mulatto 14%, black 4%, mixed black-Amerindian 3%, Amerindian 1%
90% Roman Catholic
Literacy Rate:

16th Century
Exporting region under Spanish system of mercantilism
System based on slavery, indentured servitude and limited foreign contact
Major Industries and Companies
1. Oil & Petroleum
2. Food & Beverage
1. Discovery of Cano Limon Field
2. Colombia began to export
3. Ecopetrol grew immensely
1. What do they do?
2. Largest company in Colombia
3.Intital Public Offering 2003
Bavaria Brewing Company
1. Founded in 1889
2. Open on Colombian stock exchange:1981
3. Began bottled water & snack production: 1994
4. Became 10th largest brewing company in the world and 2nd in Latin America: 2004
5. Bought by SABMiller: 2005
Importance in Colombia
1. Largest Brewery in Colombia and largest SABMiller contributor in LA
2. For every 1 peso in Bavaria Brewery salaries, 4.9 pesos are generated in the economy
3. Bavaria Brewery's taxes make up 3.4% of all taxes collected in Colombia
4. 16,369 employees
Colombia's Top Companies
- 34th freest country in the world
- One of the worlds most bio diverse countries in the world
- Second happiest country in the world by end of 2012
- Apart of the Andean community, on track to join OECD
- economic inequality
Reasons to invest in Colombia
Independence from Spanish in 1819
Major wealth disparities
Tobacco and coffee export industries develop greatly
Coffee booms lead to railroads, communication infrastructure, and first attempts at manufacturing
19th Century
What does everyone already know about Colombia?
Earlier 20th Century
1905-1915: Expansion of exports leads to most significant economic growth in country's history
1950's: Coffee companies improve transportation systems
1967: Economic planners change strategy from import substitution to export promotion
The 1980's
Strict regulation of financial sector by Central Bank
Conservative economic management
Late 80's: Internal conflict with Cartels and guerilla groups damages the production of legal agricultural activities
1. It's location
The 1990's to Present
1991 new constitution written that focuses on fiscal decentralization
First half filled with good economic performance
Financial scandal with President Ernesto Samper Pizaro (pres. 1994-1998)
Central bank no longer intervenes in foreign-exchange market
2. Size of Colombia's economy
3. Rich in natural resources
4. 3rd most business friendly country in Latin America
5. Crime is going down
6. Tourism
7. Low living cost
8. young population

Has been present on the Special 301 "Watch List" every year since 1991
Existing government procurement framework
Only firms licensed under Colombian law can provide legal services
Hiring restrictions
-Large boom came in 1960s with Marijuana and cocaine in the 1970s
-Cost $1500/kilo to produce and sold for $50,000/kilo in US
-has had 4 major drug trafficking cartels and many BACRIMs
-War on Drugs

Major Cartels
-Medellín Cartel (1976–1993)
-Cali Cartel (1977−1998)
-Norte del Valle Cartel
-North Coast Cartel

Entry Strategies
Secure an agent, representative or distributor in Colombia
Focus on formality and personal relationships
Offer after-sales service arrangements
Provide high quality product/services
Support local partner's marketing efforts
David Hudson, Liam Powers, Charlie Stogner, Sam Weil, Gabriel Byrne
Full transcript