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March 21, 2023
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Colombia, the third destination market for Chilean investment

Colombia, the third destination market for Chilean investment

Trade relations with Chile have been strengthening from the plans and projects that are held for both nations.

Marcela Aravena, director of ProChile in Colombia, In a conversation with Portafolio, he stated that a large part of the oil that enters Chile comes from Colombia and told how they want to have a positive impact on marketing.

(See: With political coups the anniversary of Boric in Chile is celebrated).

How are trade relations between Colombia and Chile?

Relations between the two countries in the last two years, despite the pandemic and the logistical crisis, have been tremendously positive. We have close to 1,000 Chilean companies that are coming to Colombia with products and services, plus all the Chilean investment installed in the country, being the third destination market for this investment.

What is the share of the two countries?

Colombia became the second destination market where Chile exports a high value-added service because it incorporates technology.

(See: Chilean Chamber says no to tax reform).

What are you working on in relationships?

We are interested in strengthening all sectors where we see potential in the Colombian market.

Of the total that Chile sells to Colombia, about 50% are food and beverages, such as seafood, wine, fruit, and nuts. We are also interested in manufacturing, bringing containers and packaging.

How much was exported?

In 2022 we exported close to US$1,000 million, 22% more than what we sold in 2021. We are aware that there is a contraction in the economies, but this year we would like to maintain that pace.

What can Colombia take from you in terms of ‘fintech’?

Colombia has a problem and it is banking access, promoting it and making those who are in the country believe that having money in the bank is good.

In Chile this is very normal, but Colombia is advancing because Chilean fintech solutions are helping banks in this country.

This is going back and forth, Colombia in the world of ICT solutions is much more advanced and that is what we could take.

(See: ‘Top’: the best countries in Latin America and the world to raise children).

What is Colombia giving to Chile?

Colombia is giving us something interesting, which is oil. Much of what you export to Chile is that. They are also bringing us coffee, where we are learning to consume good coffee.

They are helping us with their flowers and something very interesting that has been happening for a year is the export of avocado and beef.

Being free of foot-and-mouth disease allowed Chile to open the border for Colombian meat.

What tasks are pending between the two countries?

There is a task that has to do with title recognition, there is a lot of movement among people. At the external level, Colombia is the main country where Chilean students go to do postgraduate studies.

There is a challenging area of ​​how to facilitate trade so that our people can move more easily.

DIANA K. RODRIGUEZ T.
Journalist Portfolio

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