UNILATERAL PREFERENCES

Colombia 2017 | ECONOMY | COLUMN

TBY talks to Ricardo Triana, Executive Director, Council of American Enterprises (CEA) on the sector.

Ricardo Triana

What is your outlook on US-Colombian trade relations in light of the election of Trump?

Colombia knows some of the people who have been included in the new administration, Congress has barely changed, and we have built a strong relationship with both parties that gives us some assurance that we will continue in this vein. We have improved our standing in the Americans' eyes and are now partners more than anything else, perhaps the most reliable that the US has in Latin America. We will never overplay our cards, but it is fair to say that we have a solid foundation on which to build our future.

What sectors have the most opportunities for American companies investing in Colombia?

We were good before the FTA was approved because for many years we had unilateral preferences through ATPDA, and the apparel industry was solid here. There is also potential in the services sector, which could easily be installed for things like shared services and BPO, for which we have the talent. Provided prices are good, and the extraction of oil and hydrocarbons also has a great deal of potential for Colombia. Mining is also good, though mining companies struggle with licensing and communities.