Tag Archives: foreign investment

“Beautiful” Colombia

Alejandro Grisanti

A manager at Barclays Capital in an interview with financial publication Portafolio Thursday has stated that Colombia is well prepared to deal with the repercussions of the financial crisis in Europe.

Alejandro Grisanti, head of economic investigations for Latin America and the Caribbean, also said that Colombia has good ambassadors who are selling the country abroad, which is leading to more and more foreign investors inquiring about Colombia.

He elaborated that Colombia has distanced itself from the problem of the financial crisis, and is one of the most shielded Latin American countries.

Furthermore, European banks with a presence in Colombia are mostly Spanish which operate independently.

Grisanti added that Colombia has not been badly affected by a drop in European demand for its products because only 12% of exports are destined for Europe.

Grisanti said, “I think that Colombia has become more beautiful to foreigners, also thanks to its good sellers.” He made special mention of President Juan Manuel Santos and Finance Minister Juan Carlos Echeverry for their work in marketing the country.

The Investigations Chief also noted that Peru and Chile are other Latin American countries with strong economies.

Article found on: http://colombiareports.com/colombia-news/economy/21199-colombia-is-qbeautifulq-to-foreign-investors.html

Colombia, the second most attractive country for investment in Latin America

Bogota, the Capital of Colombia

U.S. and European investors see Colombia as the second most promising market for their investments in Latin America over the next three years, according to a study prepared perception among its customers for investment banking U.S. Bank JP Morgan Chase Co., one of the institutions of its kind oldest and largest in the world.

The study ‘Review of North American and European investors of the companies in Latin America’ consulted leaders of 40 major investment firms grouped by 1.2 trillion, of which 57,300 million are represented in Latin American holdings.

Brazil is the most promising economies in the region (based on 68 percent of respondents), followed by Colombia (38 percent), and ahead of Chile (25 percent) and Mexico (25 by the way). Respondents had the option of responding for more than one country. The countries that investors are less promising prospects in Latin America over the next three years are Argentina (40 percent), Venezuela (38 percent) and Peru (25 percent).

“Colombia is seen as a market that is in its early growth stage and one of the ‘most emerging’, compared with others in the region,” the report said.

Research shows that, in Peru, the country is among the economies that have more room for growth. “However, 25 percent of respondents see Peru as a less promising country, mainly because of recent changes of government.”

The paper concludes that Colombia is seen as one of the Latin American markets with better development. Investors are pleased that the Government is one of the most receptive to doing business and is in the right direction to increase investment.

Article translated from Spanish to English and found on:

http://www.eltiempo.com/economia/negocios/ARTICULO-WEB-NEW_NOTA_INTERIOR-10885510.html

Colombia-EU-Peru trade pact approved by commissioners

The European Union’s free trade agreement has now been approved to include Colombia and Peru and will go into effect in the second half of 2012 and the GDP or both South American countries is set to have an increase of 1%. The agreement will now be passed to the European Council and Parliament for final ratification. ”I can confirm that the FTA with Colombia and Peru has been approved by the college of commissioners,” a source told Spanish news agency EFE. The adoption of a proposal by the college of commissioners signals the end of the first of three stages of being passed into E.U. law. The newly proposed free trade agreement will be put in place to get rid of tariffs on all industrial and fishery products, broaden access to agricultural products, improve access to public contracts, services and investment markets, reduce technical obstacles to trade and establish common controls in relation to intellectual property rights. In this agreement, it will also include a clause for the protection of human rights and the rule of law and also to effectively apply international conventions related to labor rights and protection of the environment. In November 2009, the signing of the FTA with Colombia was not approved due to the poor human rights record but since then has drastically improved.

Reported by Toni Peters on Colombiareports.com