The renegotiation of trade terms with effects on Asia, North America and Europe, as well as the Covid-19 pandemic, have proven to augur a reordering of the international economy.

This scenario presents a series of significant challenges, but like all change, it also offers opportunities, and Colombia is emerging as the most important player in the continuity of free trade in the Americas.

On the one hand, the country will suffer the least contraction in GDP of the large Latin American economies and its macroeconomic management has proven to be exemplary. Colombia has been a significant importer in recent years and its commercial relationship with traditional and emerging partners will surely return to a growth path.

On the other hand, its privileged geographical location, the network of free trade agreements, and the best investment incentive regime between medium and large countries in Latin America make Colombia the best platform for the production, transformation, and distribution of goods and services in the expanded market of the Americas.

• South Korea has 1.3% of the Colombian import market (657 million dollars) but decreased an annual average of 8.9% in the last three years.
• Between 2017 and 2019, South Korea invested USD 21 million in Colombia, ranking 42nd of the 78 countries that made investments in the country.
• South Korea and Colombia have a Free Trade Agreement. Both countries have signed a double taxation agreement, although it is not yet in force.
• Araújo Ibarra identified 16 sectors with 44 opportunities (4 digits H.S.) for South Korea in Colombia, with a growing import market of more than USD $ 4.931 million.

Below, you will find the sectors with the greatest commercial opportunities between the Canadian and Colombian markets: