WEEKLY REVIEW OF THE COLOMBIAN ECONOMY March 18 – 22
Colombian Economy Grew 4% in 2012
The Colombian National Statistics Department (DANE) announced that the country’s GDP growth rate for 2012 was 4%. This result surprised many, as the Ministry of Finance had projected a growth of 3.8%. The sectors that led the growth were mining (5.9%), financial services (5.5%), commerce (4.1%), and transportation (4%). Meanwhile, industry (-0.7%) and agriculture (2.6%) had the poorest performances.
Post-FTA Trade Missions Indicate Increased Interest
Since the FTA between Colombia and the U.S. entered into force on May 15, 2012, 13 trade missions from the U.S. have visited Colombia, highlighting an increased interest among U.S. companies in the Colombian market . The trade missions have focused on a range of issues such as private equity and franchises and have represented states such as Florida, Massachusetts, and North Dakota.
For complete information please visit – http://bit.ly/165RFwN
The NAB Show, the world’s largest event covering filmed entertainment.
El Servicio Comercial de la Embajada de los Estados Unidos en Colombia anuncia que estará apoyando el NAB Show 2013, que se llevará a cabo en Las Vegas, NV, del 6 al 11 de abril de 2013.
Al registrarse con la delegación del Servicio Comercial de la Embajada de los EE.UU., usted obtiene los siguientes beneficios:
- Pase de ingreso a las exposiciones (valor de $150)
- Descuento de $100 en el registro del Flex Pass Conference
- Una copia del 2013 NAB Show Export Interest Guide
- Una invitación a la Recepción Internacional de NAB
- Acceso exclusivo al Centro de Comercio Internacional (International Trade Center-ITC), el cual ofrece Wi-fi, computadores, salas de reuniones, refrescos y copias de publicaciones de la industria.
Para unirse a esta delegación, simplemente debe dirigirse a la página web del NAB Show , (http://bit.ly/TGKgjV), registrarse y usar el Código de Delegación ID87.
Para preguntas acerca de este evento: Carlos.Suarez@trade.gov
Brazil – Colombia – Panama | May 12-18, 2013 Secretary of Commerce to Lead Infrastructure Trade Mission
Join the U.S. Secretary of Commerce in Latin America
The Secretary of Commerce will lead an Infrastructure Business Development Mission to Brazil, Colombia and Panama from May 12- 18, 2013. In all three countries, the governments and private sector are investing significant money in infrastructure projects. As a result, the mission will focus on export-ready U.S. firms in a broad range of leading U.S. infrastructure industrial sectors with an emphasis on project management and engineering services (construction,architecture and design), transportation (road/highways, rail, airports and intelligent transportation systems), energy (distribution, transmission and smart grid) and safety and security.
Space is Limited. Apply Today.
Date: May 12-18, 2013
Venue: São Paulo and Brasília, Brazil, Bogotá, Colombia and Panama City, Panama
Additional Information: export.gov/BrazilColombiaPanama2013 | businessliaison@doc.gov | 202-482-1360
For more information : http://bit.ly/Vwhi6u
Access the Western Hemisphere Conference
This annual conference will bring 10 Senior Commercial Diplomats covering over 15 markets across the Western Hemisphere. Participants will discover how to identify new export opportunities, increase market share and competitive edge, and develop strategic relationships with those that are on the forefront of business and exporting in these key markets.
Minneapolis, April 23 – 24, 2013
This conference will cover markets from Canada to Chile, and most markets in between. Whether you’re looking to expand into Canada, address the complexities of Brazil, or take advantage of existing and new Free Trade Agreements, like the existing with Colombia, this conference is a must for anyone seeking to expand throughout the Americas.
For more information please visit - http://www.exportassistance.com/wh-about-the-conference
WEEKLY REVIEW OF THE COLOMBIAN ECONOMY January 7 – 11
Inflation Rate for 2012 at 2.44%
The 2012 rate is 1.29% less than the inflation rate for 2011(3.73%). The education sector had the greatest inflation rate (4.59%), and entertainment the lowest (0.53%). The 2012 inflation goal for the Colombian Central Bank was 2 to 4%. For 2013, the Central Bank expects an inflation rate near 3%.
2012 Foreign Direct Investment in Hydrocarbons and Mining More than US $13 Billion
According to the Colombian Central Bank, FDI in this sector will surpass US $13 billion in 2012, an 8.38% increase over 2011. Some economic think tanks have expressed concern about the concentration of resources in sectors that do not generate industrial growth and employment. In 2011, non-oil and mining FDI represented only 14% of total FDI.
2012 Key Year for Colombian Trade Negotiations
In 2012, the U.S.-Colombia Free Trade Agreement entered into force, Colombia signed a trade agreement with the EU, concluded negotiations with South Korea, and began negotiations with Israel, Costa Rica, and Japan. It has ongoing negotiations with Panama and Turkey. Colombia has eight trade agreements with fifteen countries with the goal of reaching sixteen trade agreements in force with a total of over 50 countries (including the 27 EU members) by 2014.
Colombia to Host the Largest Cruise Conference and Trade Show
The twentieth Annual Florida-Caribbean Cruise Association (FCCA) Cruise Conference and Trade Show will take place in Cartagena from September 30-October 4, 2013. The FCCA conference is considered the premier industry event of the year. Approximately 192 port calls in Cartagena, two in Santa Marta, and about 400,000 passengers are expected before the end of the cruise season in May 2013. This represents an increase of over 17% compared to the previous season. Colombia expects to receive ships from cruise lines such as Disney Cruise Lines, Carnival Cruise Line Residensea, Phoenix-Reisen, Paul Gaugin, and Kristina Cruises.
Expo in the U.S. – Opportunity for Colombian Buyers
Graph Expo 2012 is one of the year’s largest and most inclusive exhibition of offset, digital and hybrid technologies, and products and services for the commercial and package printing, publishing, mailing, in-plant, photo imaging and marketing industries. Graph Expo 2012 will take place on October 7-10, 2012 at the McCormick Place Exhibition Complex, Chicago, Illinois USA.
For more information, please visit: WWW.GRAPHEXPO.COM
For interested buyers in Colombia who may want to attend this event, please contact the Foreign Commercial Service at: http://export.gov/colombia/contactus/index.asp
