[Federal Register Volume 77, Number 233 (Tuesday, December 4, 2012)]
[Notices]
[Pages 71778-71780]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-29306]
[[Page 71778]]
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DEPARTMENT OF COMMERCE
International Trade Administration
U.S. Infrastructure Trade Mission to Colombia and Panama;
Bogot[aacute], Columbia and Panama City, Panama, May 13-16, 2012
AGENCY: International Trade Administration, Department of Commerce.
ACTION: Notice.
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Mission Description
The United States Department of Commerce is organizing a Trade
Mission to Bogot[aacute], Colombia and Panama City, Panama. Dates are
May 13-16, 2013. This will be an executive-led mission, which will
focus on helping U.S. companies launch or increase their export
business in the promising sectors within the transportation
infrastructure markets of these two countries. The mission will include
business-to-business matchmaking appointments with local companies, as
well as market briefings, and networking events. In both Colombia and
Panama the governments and private sector are investing some $30
billion in infrastructure projects. As a result, the mission will focus
on export-ready U.S. firms in the following sectors: Building products,
construction equipment, electrical power systems, safety and security
equipment, airport supplies, logistics and distribution solutions
providers, port equipment, and intelligent transportation systems
(ITS).
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. In 2011, Colombia
enjoyed 5.9% GDP growth and should maintain 4% in 2012. Colombia is
attracting record amounts of foreign direct investment (FDI), which is
further leading to rapid industrial development, necessitating the need
for improved infrastructure. In 2011, Colombia attracted $13 billion in
FDI, and is on pace to attract $15 billion in 2012. In addition, per
capita income continues to grow as Colombia's middle class has doubled
in the past 10 years.
Colombia is the third largest market in the region, after Mexico
and Brazil, and is ranked 22nd as a market for U.S. exports globally.
Over the past 10 years, 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.
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.
The overall improvement in the national safety and security
situation in Colombia has allowed the government to focus on improving
its infrastructure development, which along with a boom in the
extractive industries, 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 and Barranquilla. The government of Colombia has earmarked
$26 billion over the next 4 years for primarily road projects. However,
on-going and future projects exist in airport modernization, sea and
river port developments, and rail line upgrades. In addition, most
major cities in Colombia are looking for solutions to improve internal
transportation, including mass transit. A recently completed U.S. Trade
Development Agency reverse trade mission focused on ITS highlights the
opportunities that exist in Colombia across the board in transportation
infrastructure.
Colombia's traditional acceptance of U.S. brands as well as U.S.
and international standards provide a solid foundation for U.S. firms
seeking to do business there. Moreover, the implementation of the US-
Colombia Free Trade Agreement on May 15, 2012 provided 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
Agreement also opens the market for remanufactured goods and provides
greater protection for intellectual property rights (IPR).
Panama
Panama has historically served as the crossroads of trade for the
Americas. Its strategic location as a bridge between two oceans and the
meeting of two continents has made Panama not only a maritime and air
transport hub, but also an international trading, banking, and services
center. Panama's global and regional prominence is being enhanced by
recent trade liberalization and privatization, and it is participating
actively in the hemispheric movement toward free trade agreements.
Panama's dollar-based economy offers low inflation in comparison with
neighboring countries and zero foreign exchange risk. Its government is
stable and democratic and actively seeks foreign investment in all
sectors, especially services, tourism and retirement properties.
Panama and the U.S. recently implemented a Trade Promotion
Agreement (TPA) that has had the effect of eliminating some 90% of
tariffs and duties on U.S. exports to Panama. But even before the
implementation of the TPA, the U.S. was Panama's most important trading
partner, with about 30% of the import market, and U.S. products have
enjoyed a high degree of acceptance in Panama. In 2011, U.S. exports to
Panama jumped 34% to $8.25 billion--in no small part due to the fact
that Panama's economy grew 10.5%. However, international competition
for sales is strong across sectors including telecommunications
equipment, automobiles, heavy construction equipment, consumer
electronics, computers, apparel, gifts, and novelty products.
Panama now enjoys investment grade rating status, granting the
Government of Panama international recognition for recent tax reforms
and its record of steady GDP growth while keeping its deficits under
control (even in 2009, a dismal year for the world economy, Panama's
economy grew 2.9% and the Government of Panama's deficit was only 1% of
GDP). Not only does the investment-grade rating lower the cost of
borrowing for the Government of Panama, but it sends a strong market
signal that Panama, even while carrying a debt ratio that is relatively
high, is one of only five Latin American countries to achieve this
distinction.
Panama's economy is based primarily on a well-developed services
sector, accounting for about 75% of GDP. Services include the Panama
Canal, banking, the Colon Free Zone, insurance, container ports, and
flagship registry. Panama is currently engaged in the Panama Canal
expansion project. This project, in conjunction with the expansion of
the capacities of its ports on both the Atlantic and Pacific coasts,
will solidify Panama's global logistical advantage in the Western
Hemisphere.
This logistical platform has aided the success of the Colon Free
Zone (CFZ), the second largest in the world after Hong Kong, which has
become a vital trading and transshipment center serving the region and
the world. CFZ imports--a broad array of luxury goods, electronic
products, clothing, and other consumer products--arrive from all over
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the world to be resold, repackaged, and reshipped, primarily to
regional markets. Because of this product mix, U.S. brand market share
is significant, even if most of those products are made in Asia.
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 Panama City, Panama and Bogot[aacute],
Colombia. In each city, participants will meet with pre-screened
potential agents, distributors, and representatives, as well as other
business partners and government officials. 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 Time Table
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Monday, May 13, 2013, Panama City, Market Briefing.
Panama. Matchmaking appointments.
Networking reception.
Tuesday, May 14, 2013, Panama City, Matchmaking appointments and/or site visits.
Panama and Bogota, Colombia. Travel to Bogota in late afternoon/early evening.
Wednesday, May 15, 2013, Bogota, Market Briefing.
Colombia. Matchmaking appointments.
Networking reception.
Thursday, May 16, 2013, Bogota, Matchmaking appointments and/or site visits.
Colombia.
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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 15 U.S.
companies and/or trade associations and maximum of 17 companies and/or
trade associations will be selected to participate in the mission from
the applicant pool. U.S. companies or trade associations already doing
business with Colombia and Panama, as well as U.S. companies or trade
associations seeking to enter these countries for the first time may
apply.
Fees and Expenses
After a company and/or trade association 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 $3,980 for large firm or trade association and $2,675 for a small or
medium-sized enterprise (SME).\1\ The fee for each additional firm
representative (large firm, SME, or trade association) is $450.
Expenses for travel, lodging, most meals, and incidentals will be the
responsibility of each mission participant.
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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/contractingopportunities/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 of 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 fifty-one percent U.S. content. In the case of a
trade association or trade organization, the applicant must certify
that, for each company to be represented by the trade association or
trade organization, the products and services the represented company
seeks to export are either produced in the United States, or, if not,
marketed under the name of a U.S. firm and have at least fifty-one
percent U.S. content.
Selection Criteria for Participation
Selection will be based on the following criteria, listed in
decreasing order of importance:
Suitability of the company's (or, in the case of a trade
association or trade organization, represented companies') products or
services for the Colombian and Panamanian markets
Company's (or, in the case of a trade association or trade
organization, represented companies') 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,
including publication in the Federal Register (http://www.gpoaccess.gov/fr), posting on ITA's trade mission calendar--http://export.gov/trademissions--and other Internet Web sites, press releases
to general and trade media, direct mail, 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,
February 15, 2013. The U.S. Department of Commerce will review
applications and make selection decisions on a rolling basis until the
maximum of fifteen participants is reached. We will inform all
applicants of selection decisions as soon as possible after the
applications are reviewed. Applications received after the February
15th deadline will be considered only if space and scheduling
constraints permit.
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How To Apply
Applications can be downloaded from the trade mission Web site or
can be obtained by contacting Arica Young, Carlos Suarez or Enrique
Tellez at the U.S. Department of Commerce (see contact details below.)
Completed applications should be submitted to Arica Young, Carlos
Suarez or Enrique Tellez.
Contacts
Arica N. Young, Commercial Service Trade Missions Program, Tel: 202-
482-6219, Fax: 202-482-9000, Email: [email protected]
Carlos Suarez, US Commercial Service Colombia, Tel: 57-1-2752519,
Email: [email protected]
Enrique Tellez, US Commercial Service Panama, Tel: 507-317-5080, Email:
[email protected]
Elnora Moye,
Trade Program Assistant.
[FR Doc. 2012-29306 Filed 12-3-12; 8:45 am]
BILLING CODE 3510-FP-P