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Overview of Import and Export Regulations in Bolivia

Overview of Import and Export Regulations in Bolivia

When your business expands, you may consider importing and exporting goods as the next step. Bolivia is a resource rich country, benefitting from its geographical location within the Andean Community. Its gross domestic product (GDP) was US$39 billion in 2019 according to the World Bank. Before expanding, understanding import and export regulations in Bolivia is necessary to ensure legal compliance and positive economic returns. Bolivia’s economy has been growing in the last few years, mainly due to its exports of commodities such as natural gas, silver, zinc and soy. Another important sector is the manufacturing industry which corresponds to 14-15% of Bolivia’s gross domestic product annually. Imports and exports in Bolivia Bolivia has signed regional, sub-regional and bilateral trade agreements with the goal of opening the country to foreign investors. These agreements create new and favourable regional import and export regulations for Bolivia, making it more investor friendly. Bolivia's exports represent 26% of its GDP and imports represent 31.1%. This legal framework sparks the interest of new investors to Bolivia, a country with manageable risk levels. According to the World Integrated Trade Solution, Bolivia's openness to foreign trade generates export volumes that represent 26% of its GDP and imports representing 31.1% of its GDP. Major Bolivian exports are petroleum gas and other gaseous hydrocarbons (US$2.59 billion); zinc ores and concentrates (US$1.34 billion); gold, including gold plated with platinum, in bulk, semi-manufactured or in powdered form (US$1.04...

Overview: Argentina, Uruguay and Paraguay Trade Relations

Overview: Argentina, Uruguay and Paraguay Trade Relations

Companies seeking to expand to Latin America should consider the commercial opportunities generated by trade agreements between Argentina, Uruguay and Paraguay. As Latin American countries promote regional relationships to support each other, growth and free trade agreements offer new opportunities for business owners seeking to access important benefits and new markets abroad. As one of the largest economies in Latin America, Argentina draws focus for foreign expanding companies. Expanding multinationals should pay attention to the close relationship Argentina maintains with neighboring countries, especially as these countries work to reduce bureaucratic barriers to doing business – such as the introduction of a new legal entity structure in Uruguay. We provide a comprehensive overview of the trade agreements between Argentina, Paraguay and Uruguay. We also share some of the opportunities available to executives considering entering these markets. Argentina-Uruguay-Paraguay trade relations and agreements The economic relations between Argentina, Uruguay and Paraguay are comprehensive. Several different trade agreements in force between these nations reflect the efforts of their governments to maintain and strengthen trade ties. Several different trade agreements in force between these nations reflect the efforts of their governments to maintain and strengthen trade ties. However, in addition to strengthening relations with neighboring countries, each country has worked to diversify its trade profile not only within the region, but outside it with important trade partners...

Overview of Argentina-UK Trade Relations

Overview of Argentina-UK Trade Relations

Within an uncertain global economic context, Argentina and the United Kingdom (UK) evaluate their current trade relationship and consider potential moves to strengthen ties. In early March 2020, officials from both sides met in Buenos Aires to explore further opportunities in the bilateral relationship. This was the first meeting between officials under the Presidencies of Boris Johnson and Alberto Fernández. Fernández took office in Argentina in December 2019. The departure of the United Kingdom from the European Union and its consequent search for new trade allies - plus Argentina’s desire to combat financial challenges and secure new trade channels for its businesses - spurs this activity. Understand the latest developments in Argentina-UK trade relations, and where opportunities lie for businesses to use Argentina as a local hub for trade in Latin America. Strengthening Argentina-UK trade relations Argentina is one of the largest economies in Latin America, and has been a focal point for British trade and investment. Argentina is considered a popular hub for British companies expanding into the region. In March 2020, UK Deputy Foreign Secretary for Europe and the Americas Wendy Morton met with with Argentina’s Deputy Foreign Minister Pablo Tettamanti and Production Minister Matias Kulfas in Buenos Aires to discuss opportunities to strengthen Argentina-UK trade relations. The discussion points of this meeting addressed the potential to increase trade activity in a number of areas, including:  oil and gas miningagriculturetransportfinancial...

Trade and Business Development in the Andean Community of Nations

Trade and Business Development in the Andean Community of Nations

Follow important business development in the Andean Community of Nations to understand the future of trade access in Latin America. As a company looking to expand into Latin America, consider the opportunities generated by powerful regional trade agreements, and how your business operating within Latin America can access important consumer markets abroad. Nine countries in Latin America are part of the Andean Community. It is important to know about business opportunities this great trade alliance has to offer exporters and importers in Latin America. Gain more insight into this regional trade environment that is growing quietly at a rapid pace. What is the Andean Community of Nations? The Andean Community of Nations aims at improving the standard of living of the countries’ populations through regional integration and economic and social corporation. On May 26, 1969, five South American countries (Bolivia, Colombia, Chile, Ecuador, and Peru) signed the Cartagena Agreement, an agreement aimed at improving the standard of living of the countries’ populations through regional integration and economic and social corporation. The Cartagena Agreement eventually formed the Andean Community of Nations (Comunidad Andina).The Andean Community of Nations is a regional bloc, made up of these 5 countries, that intends to stimulate industrial, agricultural, social, and trade development, through greater regional integration. In a collaboration agreement with Mercosur, the Andean Community added four new partner members: Brazil, Paraguay, Argentina, and Uruguay. These four...

Increasing New Zealand Export Opportunities with Mexico and Peru

Increasing New Zealand Export Opportunities with Mexico and Peru

New Zealand export activity is reaching further afield, as the country establishes greater trade relationships with Latin American nations. Though diplomatic relations with countries such as Mexico and Peru extend back decades and even centuries, there’s still a great deal of trade potential between these 3 countries. Now, following the signing of the historic Comprehensive and Progressive Trans-Pacific Partnership with 10 other countries, New Zealand opens up new export opportunities and unprecedented access to Mexico and Peru markets. New Zealand export opportunities: focus on ‘emerging consumers’ The country’s trade agency, New Zealand Trade and Enterprise (NZTE), held a seminar in September 2019 to discuss trade opportunities for New Zealand export hopefuls in Mexico and Peru, two of the nation’s largest consumer markets in Latin America. The seminar expressed that New Zealand’s two-way trade with Mexico reaches nearly NZ$800 million per year, and that Peru is the country’s third-largest trading partner in Latin America. As Peru and Mexico’s economies continue to develop at a rapid pace, both remain open to accept further New Zealand export offerings. Exporting wine to Mexico  Beer and tequila are the main stars of Mexico’s alcoholic beverages industry, presenting an opportunity for New Zealand wine exports to enter the fore. Market research conducted by NZTE suggests that despite the AMLO (Andrés Manual López Obrador) government’s interest in supporting local business and locally made goods, the country houses a curious consumer demographic that demands new products...

Import and Export in Chile: Understand International Trade Requirements

Import and Export in Chile: Understand International Trade Requirements

The process to import and export in Chile can be straightforward once all the requirements are met and paperwork is handled appropriately.  As one of the most developed countries in Latin America, Chile surges ahead in economic strength and technology adoption. It’s considered by many as the gateway to the region. Businesses looking to import and export from Chile are in the prime position to trade with the rest of the region and Chile’s other key partners. Why import and export in Chile? Chile’s political climate favors free international trade. Import and export activities in Chile benefit from 26 free trade agreements (FTAs) that give the country access to 64 international markets. Chile is the forty-second largest exporting economy in the world. In 2018, Chilean exports totalled US$75.482 million and imports reached US$74.189 million. The categories of the main products exported are minerals, industrial, agricultural and forest exports. The main items exported are copper, salmon, molluscs, crustaceans, canned fruits, fish oil, cellulose, sawn timber, plywood, berries, blueberries and minerals.  Chile’s main trading partners are China, the US, the European Union, Japan, Mercosur, South Korea, the Pacific Alliance and more. In addition, Chile’s trade to GDP ratio is 57.5%, which means that the economy is reliant on international trade. The government therefore works to reduce or eliminate barriers to trade, offering an attractive business environment for companies moving into the region with a desire to do business across borders. The Chilean regulations that govern...

Reforged Bolivia-US Partnership to Improve Trade and Business in Bolivia

Reforged Bolivia-US Partnership to Improve Trade and Business in Bolivia

Business in Bolivia is set to improve as the country works to rekindle its diplomatic and commercial relationships with the US. Bolivia has experienced one of the highest growth rates in South America over the last few years. In 2018, the country grew by 4.22% and has entered a new, more open phase that favors international trade and the entrance of foreign investment to the Bolivian market. Under former President Evo Morales, Bolivia’s relationship with the US turned cold. However, this is set to change as the new interim government, under interim President Jeanine Añez Chávez, has appointed an ambassador to the US for the first time in more than ten years. Learn how Bolivia is rekindling its relationship with the US and entering a new chapter with a more supportive stance towards foreign trade and business within its territory. Initiatives that impact US trade and business in Bolivia  The new interim government is working to rekindle relationships with the US. On 26 November 2019, the interim government designated a temporary Ambassador to the US, Walter Oscar Serrate Cuela. Serrate will be the first Ambassador to the US after 11 years of broken diplomatic communication. The designation signifies an important step to improve communication and cooperation with the US, and shows that Bolivia is heading towards a new, more open attitude towards international business. The Bolivian Foreign Minister, Karin Longaric, stated that the country seeks to improve the commercial benefits and open the market to foreign investment as they had done before Morales took charge....

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