Seeking to promote a more active commercial exchange and identify new investment opportunities between Puerto Rico and other Latin American markets, Puerto Rico Trade and Export will host a pair of commercial missions to Mexico and Colombia in November and December.
“Through the Puerto Rico Emprende platform, we have taken on the task of increasing the commercial presence of our local products and services in both markets,” said Trade and Export Executive Director Ricardo Llerandi.
In prior commercial missions to Colombia and Mexico, Puerto Rico entrepreneurs reported some $7 million in projected sales over one year, he said.
“These numbers validate the importance of this type of event, since it offers the opportunity to local entrepreneurs to identify, evaluate and develop new strategies that allow them to successfully enter these markets,” Llerandi said.
Mexico is one of the most important markets in the region and a benchmark of innovation for Latin America, he said. For the year 2018, total exports from Puerto Rico to Mexico were $282.4 million while imports reached $590.2 million, for a trade balance of $307.8 million. Among the sectors of greatest opportunity are chemicals, manufacturing, electrical equipment and food.
For its part, Colombia is one of the countries with the greatest ease of doing business, which represents an advantage for companies that wish to enter this market. For the year 2018, Puerto Rico’s total exports amounted to $16.6 million, while imports reached $410.1 million, for a trade balance of $393.5 million for the year 2018. Among the sectors of greatest opportunity are the food sectors, chemicals and plastics, Trade and Export noted.
The commercial mission to Mexico will take place Nov. 11-15, while the mission to Colombia is slated for Dec. 2-6, 2019.