[Federal Register Volume 75, Number 23 (Thursday, February 4, 2010)]
[Notices]
[Pages 5761-5763]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-2365]


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DEPARTMENT OF COMMERCE

International Trade Administration


Executive-Led Trade Mission to Colombia and Panama; November 15-
18, 2010

AGENCY: Department of Commerce.

ACTION: Notice.

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Mission Description

    The United States Department of Commerce, International Trade 
Administration, U.S. and Foreign Commercial Service is organizing a 
Trade Mission to Bogot[aacute] and Cartagena, Colombia and Panama City, 
Panama, November 15-18, 2010, to be led by a senior Commerce official. 
The mission will focus on helping U.S. companies launch or increase 
their export business in these promising markets. It will also help 
participating firms gain market information, make business and industry 
contacts, and solidify business strategies, towards the goal of 
increasing U.S. exports to the two markets. The mission will include 
business-to-business matchmaking appointments with local companies, as 
well as market briefings and networking events. The mission will be 
comprised of U.S. firms representing a cross section of U.S. industries 
with growing potential in the target markets, including, but not 
limited to the following sectors: Building products; computers; 
components and peripherals; construction equipment; electrical power 
systems; security and safety equipment; telecommunications equipment; 
and travel and tourism services.

Commercial Setting

Colombia

    Colombia ranks solidly with the group of progressive, 
industrializing countries worldwide that have diversified agriculture, 
resources, and productive capacities. Despite the global economic 
crisis, Colombia's economic prospects are positive. Currently, it is 
the fifth largest market for U.S. exports in the region, after Mexico, 
Brazil, Venezuela, and Chile, and is ranked 26th as a market for U.S. 
exports globally. Since the election of President Alvaro Uribe in May 
2002 (and subsequent re-election in 2006), Colombia has become one of 
the most stable economies in the region. Improved security, sound 
government policies, steady economic growth, moderate inflation and a 
wide range of opportunities make it worthwhile for U.S. exporters to 
take a serious look at Colombia.
    Infrastructure development has fueled the growth of U.S. exports to 
Colombia, including opportunities generated by highway, hotel and 
housing construction in Bogot[aacute] and coastal cities such as 
Cartagena, San Andres, and Santa Marta. Developing the oil and gas 
industry and sea and river ports are also key priorities for the Uribe 
administration. An expanding list of emerging best prospects sectors 
includes computers and components, safety and security, and tourism, 
among others.
    Colombia's increasingly democratic and transparent government and 
its traditional acceptance of U.S. and international standards, and 
U.S. brands provide a solid foundation for U.S. firms seeking to do 
business there. The U.S.-Colombia Trade Promotion Agreement (TPA), 
signed in November 2006 and pending Congressional approval, would offer 
tremendous benefits to U.S. exporters. Upon entry into force, 
(following Colombia's steps to ensure implementation of its 
obligations), the TPA would provide immediate duty-free entry for 80 
percent of U.S. consumer and industrial exports to Colombia, with 
remaining tariffs phased out over the next 10 years. The TPA would also 
open the market for remanufactured goods and provide greater protection 
for intellectual property rights (IPR).
    Bogot[aacute], the capital of Colombia, generates approximately 30 
percent of the country's total gross domestic product (GDP). 
Bogot[aacute] offers diverse business opportunities in almost all 
economic sectors. Cartagena is the fifth largest city in Colombia 
concentrating business opportunities in ports, tourism, oil refinery 
and industries such as chemical plants, cement and beverages.

Panama

    Panama has historically served as the crossroads of trade for the 
Americas. Its strategic location, bridging two oceans and two 
continents, has made Panama not only a maritime and air transport hub, 
but also an international trading, banking, and services center. Trade 
liberalization and privatization over the last several years, along 
with the hemispheric movement toward free trade agreements (the U.S.-
Panama FTA is also pending), stand to increase Panama's regional and 
global prominence. Panama's dollar-based

[[Page 5762]]

economy offers low inflation in comparison with neighboring countries, 
and zero foreign exchange risk. Its regulatory regimes are generally 
business friendly. Its government is stable, democratic, and reform 
minded, and actively seeks foreign investment in all sectors, 
especially services, tourism and retirement properties. The United 
States is Panama's most important trading partner, claiming about 30 
percent of the import market.
    Panama's economy is based on a well-developed services sector, 
which accounts for about 80 percent of its gross domestic product 
(GDP). After reaching about nine percent in 2008, economic growth 
slowed to an estimated 4-6 percent in 2009 in light of global economic 
conditions and their impact on Panama's service-based economy. The 
country's major services sectors include the Panama Canal, banking, the 
Colon Free Zone, insurance, container ports, and flagship registry. The 
assembly and manufacturing sectors of Panama's economy remain severely 
underdeveloped, with manufacturing and mining accounting for roughly 14 
percent of GDP, and agriculture, forestry and fisheries making up the 
balance.
    Anchoring growth is the $5.25 billion multi-year Panama Canal 
expansion program already underway. While the global credit crunch 
threatens a number of big-ticket residential, commercial and tourism 
projects, select investment and construction continues, with 
approximately $1 billion slated for improvements in electrical 
generation and port facilities. Panama has potential for growth in the 
areas of electric power generation, health care services, port 
services, land development, road construction, water distribution and 
purification, telecommunications, and tourism.

Mission Goals

    This trade mission is designed to help U.S. firms initiate or 
expand their exports to Colombia and Panama by providing business-to-
business introductions and market access information.

Mission Scenario

    The mission will stop in Bogot[aacute], and Cartagena, Colombia, 
and Panama City, Panama. In each city, participants will meet with pre-
screened potential buyers, agents, distributors, and other business 
partners. They will also attend market briefings by U.S. Embassy 
officials, as well as networking events offering further opportunities 
to speak with local business and industry decision-makers.

Proposed Mission Timetable

Monday, November 15, 2010, Bogot[aacute], Colombia

Market briefing
Matchmaking appointments
Networking reception

Tuesday, November 16, 2010, Bogot[aacute] and Cartagena, Colombia

Travel to Cartagena
Matchmaking appointments

Wednesday, November 17, 2010, Cartagena, Colombia and Panama City, 
Panama

Morning matchmaking appointments and/or site visits
Late afternoon travel to Panama

Thursday November 18, 2010, Panama City, Panama

Market Briefing
Matchmaking appointments
Networking reception

Participation Requirements

    All parties interested in participating in the Executive-led Trade 
Mission to Colombia and Panama must complete and submit an application 
package for consideration by the Department of Commerce. All applicants 
will be evaluated on their ability to meet certain conditions and best 
satisfy the selection criteria as outlined below. A minimum of seven 
U.S. companies and maximum of 15 companies will be selected to 
participate in the mission from the applicant pool. U.S. companies 
already doing business with Colombia and Panama as well as U.S. 
companies seeking to enter these countries for the first time may 
apply.

Fees and Expenses

    After a company has been selected to participate on the mission, a 
payment to the Department of Commerce in the form of a participation 
fee is required. The participation fee will be $4,440 for large firms 
and $3,550 for a small or medium-sized enterprise (SME).\1\ The fee for 
each additional firm representative (large firm or SME) is $450. 
Expenses for travel, lodging, most meals, and incidentals will be the 
responsibility of each mission participant. The same fee structure 
applies to representatives of U.S.-based firms stationed in Colombia, 
Panama, or neighboring countries.
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    \1\ An SME is defined as a firm with 500 or fewer employees or 
that otherwise qualifies as a small business under SBA regulations 
(see http://www.sba.gov/services/contracting opportunities/
sizestandardstopics/index.html). Parent companies, affiliates, and 
subsidiaries will be considered when determining business size. The 
dual pricing reflects the Commercial Service's user fee schedule 
that became effective May 1, 2008 (see http://www.export.gov/newsletter/march2008/initiatives.html for additional information).
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Conditions for Participation

     An applicant must submit a completed and signed mission 
application and supplemental application materials, including adequate 
information on the company's products and/or services, primary market 
objectives, and goals for participation. If the Department of Commerce 
receives an incomplete application, the Department may reject the 
application, request additional information, or take the lack of 
information into account when evaluating the applications.
     Each applicant must also certify that the products and 
services it seeks to export through the mission are either produced in 
the United States, or, if not, marketed under the name of a U.S. firm 
and have at least 51 percent U.S. content of the value of the finished 
product or service.

Selection Criteria for Participation

    Selection will be based on the following criteria, listed in 
decreasing order of importance:
     Suitability of the company's products or services for the 
Colombian and Panamanian markets.
     Applicant's potential for business in Colombia and Panama, 
including likelihood of exports resulting from the mission.
     Consistency of the applicant's goals and objectives with 
the stated scope of the trade mission.
    Referrals from political organizations and any documents containing 
references to partisan political activities (including political 
contributions) will be removed from an applicant's submission and not 
considered during the selection process.

Timeframe for Recruitment and Applications

    Mission recruitment will be conducted in an open and public manner. 
Outreach will include publication in the Federal Register, posting on 
the Commerce Department trade mission calendar (http://www.ita.doc.gov/doctm/tmcal.html) and other Internet Web sites, press releases to 
general and trade media, broadcast fax, notices by industry trade 
associations and other multiplier groups, and publicity at industry 
meetings, symposia, conferences, and trade shows.
    Recruitment will begin immediately and conclude no later than 
Friday, September 17, 2010. The U.S.

[[Page 5763]]

Department of Commerce will review all applications immediately after 
the deadline. We will inform applicants of selection decisions as soon 
as possible after September 17, 2010. Applications received after the 
deadline will be considered only if space and scheduling constraints 
permit.

Contacts

Louis Quay, Commercial Service Trade Missions Program, Tel: 202-482-
3973, Fax: 202-482-9000, E-mail: [email protected].
Jessica Arnold, Commercial Service Trade Missions Program, Tel: 202-
482-2026, Fax: 202-482-9000, E-mail: [email protected].
Sean Timmins, Global Trade Programs, Commercial Service Trade Missions 
Program.

[FR Doc. 2010-2365 Filed 2-3-10; 8:45 am]
BILLING CODE P