MEI partners with BusinessHub to strengthen presence in Latin America

 

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MEI has just agreed a partnership with consulting firm BusinessHub, lead by Veronica Medina who has over 20 years experience in international trade business development having lived in various countries in the Americas, Europe and the Middle East. With offices in Chile, Colombia and Peru, the company specialises in assisting foreign companies in their quest to expand their international business, in terms of exports and investments in these countries.  BusinessHub is the official representative of Food Export Midwest and Food Export Northeast in Chile and Colombia, the Chamber of the Americas and of 1st West Mergers & Acquisitions in Chile.  Additionally, they represent a Canadian Province in Chile where the main objective is to assist SMEs in penetrating the Chilean market. 

With the impetus and force of the Pacific Alliance, the trade zone that looks for economic integration in the region, BusinessHub recognises the potential for providing a wider range of opportunities to their partners, and also sees synergies in opportunities in priority sectors such as the infrastructure, mining and energy industries.

Across Latin America the economic landscape on the whole has changed notably in recent years.  Improved fiscal status and credit ratings, especially in countries such as Chile with a credit rating of A+ according to Fitch, show greater commitment to improving the economic situation at a national and regional level.  Welcoming regulatory environments for foreign investments match greater demand for products and services on an industrial and consumer level.  In particular a growing middle class in most Latin American countries coupled with a large youthful population has created more demanding consumers who expect a much wider variety of products of higher quality and at reasonable prices.  Despite the increased stability, safety and development across the region, inflation struggles still continue in some countries and over reliance on exports could pose a threat especially to countries rich in natural resources.  Infrastructure also needs to see continued investment with some experts suggesting that on average around 5% of GDP should be represented by infrastructure improvements each year for around a decade in order to reach international standards.

BusinessHub highlights the wealth of opportunities available in the Pacific coast economies which have generally fared much better than Atlantic coast neighbours in recent times.  Chile continues to lead many rankings across Latin America such as the World Economic Forum’s Global Competitiveness ranking (33rd out of 144 globally) and The Heritage Foundation’s Index of Economic Freedom (7th out of 186).  Colombia and Peru are also quickly catching up with Chile thanks to greater security and stability in both countries and more liberal international trade policies.  It is often mentioned that Chile is the most open country in the world regarding international trade thanks to its 23 Free Trade Agreements of various levels covering 61 countries.  This gives Chile access to around 90% of global GDP.  Colombia is also rapidly opening its markets with 15 Free Trade Agreements in place representing just under 70% of global GDP with several more agreements in the pipeline.

Across all three of these highlighted markets infrastructure projects, whether privately financed or as part of public-private associations, remain one of the most important opportunities. Other main areas of opportunity for foreign investment in these markets are:

  • Chile – energy production and efficiency, environmental services and solutions, mining-related support industries, and safety and security technologies.
  • Colombia – mining services and equipment including engineering and consultancy services, oil and gas industries, IT equipment and technologies, medical installations and supplies, and safety and security equipment.
  • Peru - environmental solutions and services, mining industry and construction equipment, computers and related peripherals, industrial chemicals, and telecoms hardware.

For more information on how MEI and BusinessHub can support your company in Latin America please contact This email address is being protected from spambots. You need JavaScript enabled to view it. +44 207 073 2661.

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