With a population of 48 million people, Colombia is the third largest country in Latin America, and it’s economy is the 28th largest in the world.
The UK has recorded investments of around £11 billion in Colombia since the turn of the millennium and is the country’s second largest investor, after the United States.
And although still relatively small, UK exports to Colombia increased by 126% between 2009 and 2012 and the total UK exports of goods to Colombia reached £303 million in 2012.
The UK’s main exports to Colombia include:
- Whisky (accounting for as much as 16% of total UK export to Colombia)
- Pharmaceuticals
- Machinery
- Chemicals
So there are definite investment opportunities out there and the structure is in place for UK businesses to make a go of it in this South American powerhouse.