Among the emerging commercial markets in South America is Colombia, a country that is fast catching up with others across the world. A country with almost 50 million inhabitants, Colombia is home to a number of growing businesses and, for foreigners looking for a market to tap into, is an increasingly attractive option. Once a country dominated by agriculture, Colombia has advanced spectacularly in recent years and now has many burgeoning industries and a thriving service sector. Doing business in Colombia can be a lucrative and interesting choice, and one that more investor will be looking at in the near future.
The Main Products
In terms of industry Colombia has a number of traditional exports: cut flowers are a major commodity, and the country is renowned for an abundance of attractive natural resources including oil and other mineral-based fuels, wood, paper and pulp, plus coffee, meat and cereals. There is also a major trade in agricultural products, machinery and automobiles, plus metal products and other such items. The petrochemicals industry is one o the strongest of the region and, perhaps most famously of all, Colombia is regarded as one of the finest providers of emeralds, and other precious stones, in the world.
Doing Business in Colombia
The growth and ongoing diversity of business and commerce in Colombia makes it a very attractive place for those looking to trade and perhaps set up businesses in the country. With a Gross Domestic Product of in excess of $500billion there is clearly plenty of scope, and with such a wide variety of industries to choose from the foreigner looking for business opportunities may be spoilt for choice. The science and technology sector is also fast-growing, with research facilities spread throughout the country, and as much of the land remains relatively unexplored the possibility for further extraction of natural resources is there.
Foreigners looking at the possibility of setting up business in Colombia can find a great deal of information here – http://www.doingbusiness.org/data/exploreeconomies/colombia/ – including advice and help on the numerous procedures and legal obligations that need to be adhered to in order to enter the business world in this wonderful and intriguing country.