Sunday, June 4, 2023

Colombia companies positioned for expansion: Finance Minister

(MarketWatch) — Colombian companies are well-positioned for international expansion, the country’s finance minister said Tuesday.

Prosperous domestic markets, a stable economy, favorable terms of trade and a free-trade strategy have helped drive Colombian companies’ moves to expand abroad, Finance Minister Juan Carlos Echeverry said here Tuesday.

“Emerging multinationals is a new phenomenon,” he said, highlighting the global expansion of both private companies and public companies, like Ecopetrol SA (EC, ECOPETROL.BO, ECP.T), Colombia’s state-run oil company.

- Advertisement -

Colombia’s focus on free trade has helped make it a favorable platform for international expansion, Echeverry said. While “some other countries in Latin America are embracing protectionism,” Colombia, Mexico, Chile and Peru are pursuing a free-trade strategy, he added.

In addition, improvements in security and efforts to improve infrastructure, as well as Colombia’s “privileged” geographic location, have encouraged Colombian corporations’ expansion, he said.

Still, some challenges remain, both domestically and abroad. Opening up companies to the United States and Europe will bring on stronger competition, he said. Although some companies have issued debt domestically to fund purchases abroad, Colombia still needs deeper financial markets to enhance companies’ financing ability, he said. Also, despite recent improvements, “the security challenge” will likely be with Colombia for decades, he added.

- Advertisement -

We strive for accuracy in its reports. But if you see something that doesn't look right, send us an email. The Q reviews and updates its content regularly to ensure it's accuracy.

"Rico" is the crazy mind behind the Q media websites, a series of onlinemagazines that includes Rico brings his special kind of savvy to online marketing. His websites are engaging, provocative, informative and sometimes off the wall, where you either like or you leave it. The same goes for him, like him or leave him.There is no middle ground. No compromises, only a passion to present reality as he sees it!

Related Articles

Colombia has one of the lowest minimum wages in Latin America

QCOLOMBIA - 2023 starts and with it many of the workers...

Colombia and Venezuela reopen border crossing after 7 years

QCOLOMBIA - Colombia and Venezuela on Monday, September 26, 2022, reopened...
- paying the bills -


- paying the bills -


Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!