Blog

  • 29 Mar 2016 by Global Chamber Denver

    Key Stats

    Russian Ruble

    US$1= 68.11 (RUB)

    • Russia is a market of over 140 million people

    • The majority of the Russian population lives in big cities - Moscow and St. Petersburg are the two main federal cities

    • Russia is the largest retail market in the world - having surpassed Brazil, Mexico, Spain and Italy in recent years

    • Second-largest market in Europe, behind only France.

    • World’s 8th largest economy (GDP).

    • 6th largest by purchasing power parity (PPP).

    • Russia is a high-income country, with a highly educated and trained workforce and sophisticated, discerning consumers.

     

    Primary Market Opportunities

    -U.S. manufacturers and exporters should have more certain and predictable access to the Russian market, because of Russia’s commitment not to raise tariffs on any products above the negotiated rates.

    Some of the more significant export opportunities include:

    ·  Aviation Equipment

    ·  Agricultural Equipment

    ·  Broadcast Equipment

    ·  Building and Construction Equipment

    ·  Cosmetics and Perfumery

    ·  Electrical Power Generation and Transmission Equipment

    ·  Forestry and Woodworking Equipment

    ·  Hydropower Generation Equipment

    ·  Machine Tools and Metal-Working Equipment

    ·  Medical Equipment

    ·  Mining Equipment

    ·  Refinery Equipment

    ·  Safety and Security Equipment

     

    Agricultural Products

    -Russia is a huge and growing market for imported agricultural products including U.S. products

    -U.S. exports of live animals, hatching eggs, tree nuts, fresh fruits, seafood, and other consumer food products have soared to new records

    -Russia is the world’s largest importer of beef on a quantity basis

     

    Consumer Good Sector

    -A growing middle class and taste for western products has seen the consumer goods sector grow rapidly.

    -Russia is the fastest growing market for food and drinks in Europe.

    -Russia's food and drinks sector relies heavily upon imports.

    -Consumer good market remains rather unsaturated and offers outstanding export opportunities.

     

    Oil & Gas

    -Russia is the second largest oil producing country in the world.

    -It is the largest gas producer, with the largest known reserves.

    -Russia will need to invest more than $1 trillion by 2030 to meet demand.

    -Russia is also one of the most mineral rich countries in the world.

    -Favorable market for the suppliers of mining equipment and machinery.

     

    Manufacturing Technologies

    -Russian heavy industry is in need of updating its manufacturing technologies and equipment.

    -There are current demands for the following:

    -Manufacturing technologies, advanced materials, machine-tools and tooling, spare parts, components for manufacturing and assembly across sectors - Aerospace, Automotive, Shipbuilding, Transport, and Power Engineering.

     

    Infrastructure opportunities

    -Russia is preparing to host a number of major sporting events, including the 27th Summer University Games in Kazan, Sochi 2014 Winter Olympics, IIHF World Hockey Championship in 2016 and the FIFA World Cup in 2018.

    -These events offer major opportunities for US companies in architecture, construction, engineering, project management, event management and associated services.

     

    Pharmaceutical Industry

    -Russia is one of the world's top ten pharma markets (estimated market of approx. $18 billion).

    -The Russian government announced ambitious plans to modernize the country's healthcare system and build a strong pharmaceutical industry.

    -There are opportunities for US suppliers of innovative drugs and for US exporters of equipment for Good Manufacturing Practice (GMP) production.

     

    Telecommunications Market

    -Russian telecommunications market showed strong development in recent years and is expected to grow further.

    -The development of 3G and 4G networks will bring new growth opportunities for the market.

    -Future market development is triggered by the increase in internet and data transmission services as well as value added services.

     

    Summary

    The government's economy modernization and infrastructure development agenda, underpinned by 140 million consumer's appetite for quality services and goods produces a need for international expertise and products.

     

     

     

     

     

     

     

     

  • 22 Mar 2016 by Global Chamber

     

    Key Facts

    Colombian Peso (COP$)

    US$1 = COPS 2.40

     

    Natural Resources: Emeralds, gold, nickel, coal, hydrocarbons, other minerals, coffee, flowers, bananas.

     

    Economies: One of 30 largest economies in the world.

     

    45 million inhabitants with 30% below 15yrs (rapidly growing middle class that demands U.S. made products and services)

     

    One of world’s top 15 largest direct selling markets in the world (Est. 900,000 salespeople).

     

    U.S. – Colombia Free Trade Agreement (FTA): Upon signing in 2012, over 80% of tariffs on U.S exports of consumer and industrial products to Colombia were eliminated. Middle class growth and the elimination of trade barriers provides U.S. businesses who choose to export to Colombia with significant opportunities.

     

    Other key provisions: Strong protection for U.S. investors (legal stability), expanded access to service markets, greater intellectual property rights protection, market access for remanufactured goods, increased transparency and improved dispute settlement mechanisms (arbitration).

     

    Principle of Universality: Foreign investment is permitted in all sectors of the economy and receives the same treatment as national investors.

     

    Principle of Automaticity: Allows for a foreign investment without any prior authorization.

     

    Most countries in Latin America have one or two major cities. Colombia has five booming commercial hubs: Bogota, Medellin, Barranquilla, Cali, and Cartagena. Each of these cities has its own American Chamber of Commerce. There are also close enough via air routes to have one agent/distributor cover the whole country. All cities offer great benefits for local manufacturing because of a large and highly qualified workforce along with preferential access to almost all major markets in the Americas.

     

    Market Opportunities for U.S. Businesses

    Great opportunities exist not only the traditional oil, gas, and mining sectors, but also consumer products such as processed food and beverages, medical equipment, travel, and education, all due to Colombia’s growing middle class and its demand for premium products.

    Opportunities for U.S construction and engineering companies looking for potential partners on infrastructure projects

    Plans for renewable energy, highway, airport modernization, railway industries and other big infrastructure projects have already created an increased demand for U.S. products and services. The Colombian government has announced to spend 26 Billion (USD) in the next four years toward highway and mass transport renovations. 

    Additional areas for export opportunities include: cotton, wheat, corn soy products, automotive parts and accessories, computer hardware and software services, IT equipment and services, plastics materials and resins, electrical power systems, safety and security equipment, food and beverage processing and packaging equipment.

    Medical Device Industry

    According to Business Monitor International “the Colombian medical device market was valued at US$1.2 billion in 2014. It is one of the world's ten fastest growing medical device markets. The market is expected to almost double in value in the next three years, reaching US$2.2 billion in 2018.

     

    The medical device market relies on imports for around 80 percent of the market. Since the signing of the Free Trade Agreement, 96 percent of U.S. Medical equipment exports to Colombia receive duty free treatment.

     

    Best prospects for U.S. medical equipment manufacturers include:

    1. Medical, surgical, dental and veterinary instruments
    2. Electro-diagnostic apparatus
    3. Orthopedics devices
    4. Prosthetic devices
    5. Diagnostic imaging equipment
    6. Laboratory equipment and consumables
    7. Ultrasound, mammography and cardiovascular equipment.
    8. Dermatological and laser treatment apparatus and apparel (boosted by medical tourism and expanding plastic surgery demand)
    9. Intensive care, cardiology, neurology and oncology related equipment

    Medical Tourism

    Of 35 best-ranked medical institutions in Latin America, 8 are located in Colombia.

    Currently 15% of its public expenditure is directed towards healthcare

    The country’s healthcare infrastructure is adequate in the larger urban areas, but is in need of modernization

    Colombia is seriously promoting the country as a world leader in medical tourism and has positioned itself as one of the top attractive destinations to receive medical treatments. This becomes an important market opportunity for the United States because the success of this industry requires high quality standards, technology and infrastructure. This has led Colombian hospital and clinic management to upgrade existing facilities, adding/renewing medical equipment and providing English language training for their staff.

    Medical procedures in Colombia cost between 10% and 35% of the prices in the United States. This has led to a significant growth of foreigners traveling to Colombia for curative treatments.

    Clinics receiving medical tourism patients have over an 80% occupancy rate, indicating the need for further expansion.

  • 22 Mar 2016 by Global Chamber

     

     

     

     

    Key Stats

    Colombian Peso

    US$1 =  2.40 (COP)

    Natural Resources: Emeralds, gold, nickel, coal, hydrocarbons, other minerals, coffee, flowers, bananas.

     

    • One of 30 largest economies in the world.

    • 45 million inhabitants with 30% below 15yrs (rapidly growing middle class that demands U.S. made products and services)

    • One of world’s top 15 largest direct selling markets in the world (Est. 900,000 salespeople).

     

    U.S. – Colombia Free Trade Agreement (FTA): Upon signing in 2012, over 80% of tariffs on U.S exports of consumer and industrial products to Colombia were eliminated. Middle class growth and the elimination of trade barriers provides U.S. businesses who choose to export to Colombia with significant opportunities.

               -  Other key provisions: Strong protection for U.S. investors (legal stability), expanded access to service markets, greater intellectual property rights protection, market access for remanufactured goods, increased transparency and improved dispute settlement mechanisms (arbitration).

    Principle of Universality: Foreign investment is permitted in all sectors of the economy and receives the same treatment as national investors.

    Principle of Automaticity: Allows for a foreign investment without any prior authorization.

    -Most countries in Latin America have one or two major cities. Colombia has five booming commercial hubs: Bogota, Medellin, Barranquilla, Cali, and Cartagena. All are beautiful locations with high rates of tourism and each has its own American Chamber of Commerce.

    -They are also close enough via air routes to have one agent/distributor cover the whole country.

    -All of these cities offer great benefits for local manufacturing because of a large and highly qualified workforce along with preferential access to almost all major markets in the Americas.


    Market Opportunities

    -Great opportunities exist not only the traditional oil, gas, and mining sectors, but also consumer products such as processed food and beverages, medical equipment, travel, and education, all due to Colombia’s growing middle class and its demand for premium products.

    -Opportunities for U.S construction and engineering companies looking for potential partners on infrastructure projects

    -Plans for renewable energy, highway, airport modernization, railway industries and other big infrastructure projects have already created an increased demand for U.S. products and services.

    -The Colombian government has announced to spend 26 Billion (USD) in the next four years toward highway and mass transport renovations.  

    -Additional areas for export opportunities include: cotton, wheat, corn soy products, automotive parts and accessories, computer hardware and software services, IT equipment and services, plastics materials and resins, electrical power systems, safety and security equipment, food and beverage processing and packaging equipment.

    Medical Device Industry

    -According to Business Monitor International “the Colombian medical device market was valued at US$1.2 billion in 2014. It is one of the world's ten fastest growing medical device markets.

    -The market is expected to almost double in value in the next three years, reaching US$2.2 billion in 2018.

    -Since the signing of the Free Trade Agreement, 96 percent of U.S. Medical equipment exports to Colombia receive duty free treatment.

    Best prospects for U.S. medical equipment manufacturers include:

    • Medical, surgical, dental and veterinary instruments

    • Electro-diagnostic apparatus

    • Orthopedics devices

    • Prosthetic devices

    • Diagnostic imaging equipment

    • Laboratory equipment and consumables

    • Ultrasound, mammography and cardiovascular equipment.

    • Dermatological and laser treatment apparatus and apparel (boosted by medical tourism and expanding plastic surgery demand)

    • Intensive care, cardiology, neurology and oncology related equipment


    Medical Tourism

    -Of 35 best-ranked medical institutions in Latin America, 8 are located in Colombia.

    -Currently 15% of its public expenditure is toward healthcare.

    - The country's healthcare infrastructure is adequate in larger urban areas, but is in need of modernization in many rural locations.

    Colombia is seriously promoting the country as a world leader in medical tourism and has positioned itself as one of the top attractive destinations to receive medical treatments. This becomes a big market opportunity for the U.S. because the success of this industry requires high quality standards, technology and infrastructure.

    Medical procedures in Colombia cost between 10% and 35% of the prices in the Unites States. This has led to a significant growth of foreigners traveling to Colombia for curative treatments. Clinics receiving medical tourism patients have over an 80% occupancy rate, indicating the need for further expansion.

  • 15 Mar 2016 by Global Chamber

    The Global Chamber Denver Volunteer Committee Meeting will be rescheduled for April. Stay tuned for an email updating you on the April meeting.

    **In the meantime, volunteer help needed for the following:

    • Marketing Support

    We are looking for contributors to write content to support marketing efforts for Global Chamber’s Denver blog and social media channels.

    If interested, please submit a write-up on one or more of the following topics:

    Describe a personal experience when global commerce affected you.

    How has global commerce changed during your lifetime?

    Why is Denver a great place for Global Commerce?

    BONUS:: Describe any previous  work associated social media experiences .

    Get creative! And if you have any pictures that support your piece, share!

    • Business Development

    We need 2 people to help organize a list each

    • Collaborating Organizations for programs (i.e. restaurants, community organizations such as Posner Center, etc.)
    • Groups to obtain new members (i.e. universities, professional organizations, etc.)

    This list will need to include company/ organization name, contact information; main contact, phone, email as this will be used for outreach.

    •  Networking

    We need 2 people to help with the outreach to these lists for partnering and onboarding of new members.

    If you are interested in marketing, business development, or networking volunteer opportunities, please contact us for additional details.

    We appreciate your commitment to the Global Chamber Denver and look forward to growing this organization together.

     

    Please direct any questions to: Sara@globalchamber.org or wyndi@globalchamber.org

    Sara Lieser & Wyndi Skillrud, Member Ambasaadors & Co-Chairs Volunteer Committee