Colombia has expanded on its technology industry to reach out to global investors. In 2018, one group, ProColombia team, headed to Toronto to discuss trading collaborations in digital technology with Canada. The delegation brought along different Canadian firms to Colombia to discuss the plans connecting with the company.
In an interview with Theo Ward of Nearshore Americas, Álvaro Concha, the trade commissioner based at ProColombia’s Toronto office, brings his insights on the market developments in north-south IT services. Concha sees the two countries sharing a good relationship due to Canada opening up opportunities for Colombian companies in the IT sector mainly through the Free Trade Agreement between the two countries made in 2008. Colombia will be projected as the gateway for all sorts of major digital technology initiatives in Latin America. The city of Medellin has been recognized by the World Economic Forum as a host city for the WEF Fourth Industrial Revolution Network affiliate center.
Gateway to Trade
What defined the win-win partnership between Colombia and Canada was the Gateway to Trade program conducted in 2018. Global Links Network, said Concha, developed the program and it was a series of activities and workshops to enable Colombian firms to prepare different market value propositions.
There were two commercial missions prepared for this venture. First was a mission wherein 14 Colombian exporters went to Canada. The second was a follow-up mission to Medellin where the Lab4+ Pacific Alliance Conference took place in July 2018. Both of these activities allowed them to attain businesses worth more than US$3 million in 2018.
ProColombia has been focused on developing the relationship between the two countries through services trades. Firms in Colombia have expanded their contacts in order to create more collaboration for their services. They have also been involved in iVentures, which was a key event for Ontario’s digital media industry.