Colombian exports have grown rapidly in recent years, boosted by a combination of more external markets and significant increases in the sales of raw materials such as oil and coal. Furthermore, measures taken by Colombia in foreign trade, through free-trade agreements concluded in the past and being negotiated now, are steps in the right direction. Latin America and the Caribbean are prominent trade partners, with the US, Spain and Portugal also featuring highly.
Opportunities for UK businesses
Given Colombia’s expanding energy sector and a number of major infrastructure projects coming on line, many opportunities exist for UK businesses. Colombia has more than doubled its spending on transportation infrastructure from $1.6 billion in 2010 to $3.3 billion in 2012, and aims to reach three percent of GDP, or approximately $10 billion, by 2014. A broader infrastructure development program over the next several years will create enormous opportunities for companies involved in the construction highways, ports, and airports.
Visit Export Britain for more information and to find support in this market.