AmCham Colombia to hold 'Colombia-Texas Business Week' in November

This event, organized by the American Colombo Chamber in Texas Economic Development Alliance, will run from November 09 to 13 and will include a business conference between Colombian and Texas (U.S.) entrepreneurs

Bogota, October 8, 2020 (AmCham Colombia).- The Colombo Americana Chamber of Commerce, AmCham Colombia, will hold the 'Colombia – Texas Business, Trade & Investment Week', an event that aims to publicize the business, tourism and investment opportunities between Colombia and the state of Texas and generate networking spaces between entrepreneurs from both countries.

"Texas was Colombia's top export destination in the United States in 2019 and so it's the second year that we consider this business day in partnership with Texas Economic Development to promote business to promote business," explained AmCham Colombia director Maria Claudia Lacouture.

He added that "for five days companies will be able to immerse themselves in technical, academic and cultural scenarios that will allow them to know the business potential between Colombia and Texas. At the same time, we will analyze the challenges and opportunities in the binational agenda, in terms of trade, investment and tourism," said AmCham Colombia Executive Director Maria Claudia Lacouture.  

Companies from all sectors will be able to participate in the event, however, it will have an emphasis on the tourism, manufacturing, auto parts, services, technology, communications, health, cosmetics and pharmaceutical industries.

On the first day of this meeting, participating companies will have an overview of the market in which they will know the business climate in the sectors and industries with the greatest opportunities between Colombia and Texas.  

During the second day there will be virtual tours to production, distribution and packaging centers in the industries with the most business potential.   It will also include a business and networking conference, which will take place on the fourth day, during which participating companies, Colombian and Texan, will be able to have one-on-one meetings with business prospects.  

For the closing of the event, the current situation of tourism in Texas will be addressed and entrepreneurs will participate in a virtual tourist experience in our country and that state of the USA.

Texas, a market for opportunities

According to an analysis by AmCham Colombia, some of the Colombian goods with the most export opportunities to Texas are gemstones, coffee varieties, different types of oils, organic chemicals and foundry, iron or steel manufactures.

Analyzing Colombia's exports to the state of Texas, it grew by 23.7% between 2018 and 2019, from US$2,655 million to US$3,284 million, according to us Census Bureu information.

As for products exported by Colombia to Texas in 2019, the top five consisted of: crude oils of oil or bituminous ore, un toasted and uncafed coffee; elbows, curves and sleeves, cast iron or steel threads by; and light oils and preparations.

Also, two of the Colombian products exported to Texas that performed better in 2019 were paintings and drawings, which grew 23,338.9%, and the other oil or bituminous ore oils that grew by 276.5%.  

This year, Colombia's exports to Texas that have grown the most between January and August are: electric conductors with a voltage of less than 1,000 V, which grew 134.9%; other cylinders, bottles, bottles, mouth sockets for the transport or packaging of glass (112.7%); and decaffeinated un toasted coffee (55.6%).

On the other hand, in 2019 Texas ranked twoth in imports between the United States. In this sense, 99.8% of unplasticized cellulose acetate that arrived in Texas was Colombian, becoming the leading product last year.   

In this regard, the Director of AmCham Colombia noted that "the United States is a market of more than 320 million consumers and Texas is one of the states in which Colombia's non-mining energy exports have the possibility to shine, so it is key that entrepreneurs know the commercial opportunities that it offers so that they can take advantage of them" Pointed out.

Companies wishing to participate in this event must register here