Bogotá, D.C., February, 2023. On February 27, the Bogotá Chamber of Commerce and the World Federation of Chambers of Commerce (WCF) will hold the event: Business opportunities with the regions of the world, which will have more than 1,000 attendees. , among businessmen, lecturers, presidents and senior managers of chambers of commerce from 27 countries around the world.
During the day, businessmen and attendees will have the opportunity to listen to the leaders and representatives of world chambers and institutions through conferences and panels divided into different sessions to analyze the opportunities in Europe, Americas, Africa and the Middle East. At the end, attendees will be able to meet with WCF representatives from each region to discuss market access opportunities.
Nicolás Uribe Rueda, executive president of the Bogotá Chamber of Commerce and the World Federation of Chambers, commented that: "The great commitment of the Federation is to allow more and more MSMEs to participate in foreign trade and become part of global and regional chains of value. Hence the importance of approaching entrepreneurs with new business opportunities, so that they can explore new and diverse markets. This meeting will also be an opportunity to discuss the importance of the private sector leading the transition towards a more sustainable, inclusive, diverse and environmentally friendly development model”.
Balance of trade
During 2022, the results of Colombia's trade balance with the different regions of the world yielded results that account for the commercial opportunities that the country has with the rest of the world. The total amount of commercial activities between Colombia and America was close to US$70 billion FOB in 2022; followed by Asia with US$34 billion FOB; Europe with US$20 billion FOB, Africa with US$1.3 billion FOB and Oceania with US$362 million FOB.
Continent | Exports FOB Dollars | Imports FOB Dollars Total | Total amount Exports + Imports FOB dollars | Trade balance Dollars FOB |
África | $1.035.556.824,78 | $223.704.302,68 | $ 1,259,261,127.46 | $ 811,852,522.10 |
América | $35.341.870.483,57 | $34.369.636.375,15 | $ 69,711,506,858.72 | $ 972,234,108.42 |
Asia | $10.822.914.627,98 | $24.034.227.484,05 | $ 34,857,142,112.03 | -$ 13,211,312,856.07 |
Europa | $9.006.376.771,35 | $11.738.973.033,54 | $ 20,745,349,804.89 | -$ 2,732,596,262.19 |
Oceanía | $287.516.575,68 | $74.978.504,08 | $ 362,495,079.76 | $ 212,538,071.60 |
Otro | $ 621,154,120.81 | $ 1,004,854,437.05 | $ 1,626,008,557.86 | -$ 383,700,316.24 |
Total | $ 57,115,389,404.17 | $ 71,446,374,136.55 | $ 128,561,763,540.72 | -$ 14,330,984,732.38 |
Fuente: DANE (2022), Comercio Internacional
The regions that presented a positive trade balance, with higher exports than imports, for the country were: America with US$972 million FOB; Africa, with a balance of US$811 million FOB; and Oceania showed a favorable balance of US$212 million FOB.
On the other hand, in regions such as Asia and Europe there are opportunities to increase exports. In Asia, the trade balance was negative, with a negative balance of US$13 billion FOB; while in Europe it was US$2,732 million FOB.
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