Sunday, March 3, 2024

Why agriculture is Colombia’s bet for the US market

In the agricultural and agroindustrial sectors, as well as in tourism, Colombia has many export opportunities and investment attractions, according to the president of the Colombian American Chamber of Commerce (AmCham Colombia), Maria Claudia Lacouture.

In the event “How are we doing on the Colombia-United States agenda? Challenges for bilateral relations in 2024” the leader pointed out that despite the asking for cooling There are companies and sectors that trade in the United States in a significant way. There are 24 states with an increase in demand for Colombian products of more than 100%

The House recognized trade opportunities with the United States for this year where agribusiness, intermediate goods, tourism, and critical minerals, such as copper and nickel, prevailed. (Read on IN the context of livestock: The review of the FTA with the United States will affect the competitive agricultural sector)

Lacouture indicated that “in the current geopolitical and commercial context, marked by continued tension between the United States and China, the development of the electoral process in the United States and the global challenge of energy transfer opportunities remain and new ones arise.”

Likewise, AmCham Colombia recognizes various opportunities to attracting foreign investment to the country. The first is that Colombia can increase its exports to the United States of 108 products that are more competitive and efficient in their production processes compared to China, including food and live animals, beverages and tobacco, raw materials, mineral fuels, and animal and vegetable oils. , fats and waxes, chemical products, manufactures, etc.

Regarding the products with the most potential, according to the analysis of AmCham Colombia, the extracts and essence of coffee prepared sauces, palm oils including refined, freeze-dried soluble coffee, confectionery, preserved fruits, and vegetables.

According to the United States ambassador to Colombia, Francisco Palmieri, “We are the first market for Colombian agricultural exports and many products are coming to our country through FTA and using our cooperation programs aimed at communities we can see new opportunities”:

Colombia also has land acquired to deepen its manufacturing exports such as paper, auto parts, tiles and elements for fireplaces, gauze and bandages, woven fabrics, etc. (Read on IN the context of livestock: Renegotiate US FTA or review it? The danger of going to the wool and cutting)

The critical mineral sector stands out as another key possibility to attract investment, especially in increasing green energy and the transition towards sustainability.

The introduction of the US $ 370 billion envisaged in the US Inflation Reduction Act for climate action offers an important opportunity to strengthen Colombia’s position as a supplier of essential minerals such as copper and nickel, important in the production of electric vehicles, solar panels, wind turbines, etc.

World Nation News Desk
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