In 2015, Colombia boasted a Gross Domestic Product of USD$32.6 billion, with its manufacturing industry accounting for a noteworthy 12.2% of the total GDP. This makes it the fourth most significant sector in the country.
With such impressive statistics, why not consider Colombia as your manufacturing destination of choice?
Quality
Location
Because of its strategic location, Colombia is in an ideal position to bridge between the countries in North and South America. It is less than 6 hours away by plane from all the major cities on the continent and closer to Central and North America than many other Latin American countries.
Trade Agreements
There are also some other significant advantages that make the sector more competitive. For instance, they have tariff preferences on several products in various markets through the trade agreements signed by Colombia. Colombia boasts an extensive free trade agreement network, giving preferential access to more than 60 countries and 1.5 billion consumers around the world. In 2015 manufacturing exports reached USD$7 billion, proving the merits of Colombian manufacturing.
Culture and Language
Colombia being a Latin American country has very similar culture to other Western countries and is very close to the other Latin American countries. The national language is also Spanish which is widely spoken throughout the Americas. Shared values and familiar language allow for smoother business dealings and greater understanding.
Committed Government
Colombia is known for its political stability and solid institutions, making it one of the most politically stable markets in Latin America. Regardless of the president in office, the government has a long term commitment to the continued development of private businesses, and follows the standard of best economic and social practices. This made it possible for the country to join the Organization for Economic Cooperation and Development in 2020.
What Products Can Be Produced?
Colombia has an abundance of nonrenewable resources, including reserves of gold, coal, and petroleum; its renewable resources include rich agricultural lands and its rivers, which have been harnessed increasingly for hydroelectric power. These resources put Colombia in a good position to be able to produce a variety of products.
As Colombia is in the tropical region, its rich agricultural lands produce a wide range of unique resources that can be used to make food and beverage products.
It’s natural resources can also be used to create various construction materials that are environmentally friendly. This can give your company a much valued environmentally green image.
The petroleum resources open the way for a huge possibility in products made from synthetic fibers and plastics.
So, if you are looking for incredible manufacturers, then choose Colombia.
At Colombia’s best, our dedicated team sets up agreements with the best suppliers and connect them with buyers around the world that want to grow their business with great products.
Contact us today to see how they can help your business thrive.
