Through an Internationalization Program, the Colombian American Chamber of Commerce, AmCham Colombia began a process to increase the number of companies that do business with the United States and to take advantage of the opportunities that are opening up in the new configuration of international trade.
More than 50% of the United States’ exports and imports are intermediate and have shown a decrease of 43%. However, the Colombian American Chamber, AmCham, Colombia has great export potential with the 108 products previously identified.
The director of AmCham Colombia, María Claudia Lacouture, said that “on a global level, a fragmentation of globalization is being seen, reconfiguring international trade, which is why the interest in seeking to complement imports with national production. We see the need to reduce distant dependence of countries like the United States on Asian nations. “
To that extent, Colombian entrepreneurs can increase their exports and commercial relationship with the United States through the AmCham Colombia Internationalization Program, which consists of 12 weeks where participating companies are helped to identify specific commercial opportunities in that country and connect with potential buyers.
“Through practical modules, according to the needs and profile of each company, we cross supply and demand, assess their export capacity and advise them,” Lacouture explained.
Colombia’s opportunities are to find where are the regional chains that require substitution from offshoring (distant country) to a nearshoring (neighbouring country), to those that allow faster access, with less political risks and, at the same time, allies and supply of the required products, assured Lacouture.
AmCham Colombia’s Internationalization Program has four stages: strategic analysis of demand and supply, business strengthening, adaptation to the international market and meeting business opportunities.
Within the process, each participating company is given an Export Test through which their export potential is evaluated to obtain a diagnosis of experience in the national market and from there, define business strengthening training with experts, in which the necessary tools are provided for the export of products.
Likewise, companies will receive information on legal aspects of internationalization, sanitary, phytosanitary, international logistics and operations, and promotion strategies.
“Business internationalization and exports must be part of the strategic plan of companies for their recovery. The tension between the United States and China and the spread of COVID-19 changed the dynamics of international trade. Still, at the same time, it offers opportunities that Colombian business men can take advantage of,” explained Lacouture.
According to DIAN data, in 2019, a total of 3,505 companies exported to the United States, the main destination for foreign sales in the country.
As Colombia advances in the fight against the pandemic, it is important to put in place strategies that allow for the country’s economic recovery and that it be done with full responsibility.
Our invitation is for companies to internationalize because an exporting company is more productive, generates formal and quality employment has access to technology. It is more easily inserted into productive chains, fundamental elements in the situation we face.”
Exports also allow better use of companies’ installed capacity, avoid exclusive dependence on the national market and increase competitiveness to cope more quickly with changes in consumer trends and needs.”