Aug. 18, 2017
The agrochemicals sector was one of the most discussed at the recently signed Agreement of Economic Supplementation between Colombia and the countries of Mercosur (Argentina, Brazil, Paraguay, and Uruguay).
The Colombian Minister of Trade and Industry, María Claudia Lacouture, affirmed that the partnership had materialized agreements previously negotiated.
“It is an agreement that will allow more benefits for the textile sector, car making, agrochemicals, and plastics. This will allow a growth of Colombian exports with real and competitive opportunities. I invite businessmen and exporters to take advantage of this new opportunity,” the minister said.
On agrochemicals, Argentina established a quota of 31,000 tons of duty-free for imports. The exports of agrochemicals by Colombia reached US$434 million last year. The top destinations are Brazil, Mexico, Ecuador, and Venezuela, which puts Argentina as the next big market to conquer.
“This is an agreement that will benefit the industrial sector with possibilities of developing complementarities and articulate value chains in areas like fertilizers and agrochemicals, besides plastics and the automotive sector. In 2016, the exports of goods to Argentina reached US$134 million, an increase of 3.6% compared to 2016. We have a lot of potential,” said Lacouture.
The Colombian exports to Mercosur (excepting energy goods) increased 6.8% between 2010 and 2016. The major products for exports were insecticides, polychroite, polypropylene, palm oil, medicines, pneumatic products and plastic bags.
Mercosur represents for Colombia an opportunity to access a potential of over 250 million people with a demand for imported products of nearly $211 billion with Brazil corresponding for 80% of this market.