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Opportunities for UK Companies in Latin America and the Caribbean Opportunities for UK companies in Latin America and the Caribbean Alexander Dennis’ Enviro400 hybrid bus, Mexico City Opportunities for UK companies in Latin America and the Caribbean 1 Rio de Janerio, Brazil Contents About the Department for International Trade (DIT) .....................................................2-3 Opportunities for UK companies in Latin American and the Caribbean ................................. 4-5 Sectors Markets Advanced Engineering and Automotive ....................... 6-7 A focus on Latin American and the Caribbean markets ........................................ 24-25 Education .............................................................................. 8-9 Argentina ................................................................................ 26 Financial Services ............................................................. 10-11 Barbados & the Eastern Caribbean ................................. 27 Food & Drink ...................................................................... 12-13 Brazil ......................................................................................... 28 Infrastructure ................................................................... 14-15 Chile .......................................................................................... 29 Life Sciences ..................................................................... 16-17 Colombia ................................................................................. 30 Marine ....................................................................................... 18 Costa Rica ................................................................................. 31 Mining ........................................................................................ 19 Cuba .......................................................................................... 32 Oil & Gas .......................................................................... 20-22 Dominican Republic ............................................................. 33 Renewable Energy ............................................................... 23 Ecuador ................................................................................... 34 Guyana ..................................................................................... 35 Jamaica ................................................................................... 36 Mexico ....................................................................................... 37 Panama .................................................................................... 38 Peru .......................................................................................... 39 Trinidad & Tobago ................................................................ 40 Uruguay .................................................................................... 41 Venezuela ............................................................................... 42 2 Opportunities for UK companies in Latin America and the Caribbean Opportunities for UK companies in Latin America and the Caribbean 3 Mexico City, Mexico UK Export Finance UK Export Finance is part of DIT and supports companies with financing their overseas sales. They also help UK exporters win contracts: the attractive financing terms they can give to buyers of UK goods and services help exporters make their offer more competitive. They help exporters fulfil contracts by They also help exporters get paid by offering enabling companies to access the working insurance against the risk of not being paid, capital they need, giving them the ability or of not being able to recover the costs of to take on more contracts and increase fulfilling an export contract. turnover. DIT Latin America The Department and Caribbean Enquiry Hub for International Trade DIT has experts based in overseas We have a dedicated regional DIT Enquiry markets, in the UK regions and in specialist Hub based in Santiago, Chile, that can provide This brochure is designed to draw together key points about the most sector teams in the UK. Together, we further basic information on these markets important sectors and markets with opportunities for exporting UK actively identify opportunities in overseas and put you in touch with the appropriate markets, highlighting these on teams or external service providers for your companies to consider in Latin America and the Caribbean. www.great.gov.uk, organise events in company. the UK to highlight developments and Opportunities are particularly relevant to best route to market and on regulations they communicate them to companies in the larger exporting companies with experience need to comply with. We connect companies relevant sector. of trading in other overseas markets, with up with key contacts in their sector and help capacity to visit the region and invest time in them identify and warm up potential business In Latin America, we have identified a For more info or get in touch, establishing strong business relationships. partners. Our teams can: number of sectors that offer particularly please email: strong opportunities for UK companies. From our offices overseas and in the UK, the • Help to find the best markets for a These opportunities are listed in this Ben Thompson Department for International Trade (DIT) company’s product or service. brochure and we encourage all UK Latin America and Caribbean helps UK- based businesses export and grow • Provide tailored support and guidance on companies with relevant products and Enquiry Hub Manager in overseas markets and also helps overseas how to trade in a target market. services to get in touch with our teams to e. [email protected] companies locate and grow in the UK. We find out more. provide our services in over 100 markets • Research, identify and warm up potential worldwide. business partners. If you are unsure which country or sector DIT’s international trade experts help UK • Support during overseas visits. team to approach, or if your product/ companies assess market potential for their service does not fit within DIT priority • Support during overseas exhibitions and product or service; we can help research the sectors in those markets, there are still events market and we can advise companies on the opportunities out there for you. 4 Opportunities for UK companies in Latin America and the Caribbean Opportunities for UK companies in Latin America and the Caribbean 5 Santiago, DIT in Latin America Chile & the Caribbean The Department for International Opportunities for UK Trade has a network of 130 staff based in 17 Latin American and Caribbean markets, whose role companies in Latin is to support UK companies that want to grow their business in the region. America and the To find out more about how DIT may be able to help your business grow, Caribbean please contact our teams in the UK and overseas. The Department for International Trade is responsible for promoting UK trade across the world and attracting foreign investment to the UK. We are a specialised government body • Support during overseas visits, with responsibility for negotiating and the identification of potential international trade policy, supporting business partners. business, as well as delivering an outward-looking trade diplomacy • Assistance and support during strategy. overseas exhibitions and events. DIT has trade specialists who can help Latin America & the Caribbean is the UK companies commission services world’s third largest economy, after from local experts overseas including: the US and China. It has a population of 650 million - almost double that of • Country and sector advice, with the US and 10 times the size of the UK. extensive local market knowledge and research. ‘‘ DIT helped me get commercial access and knowledge of Brazil. They supported me to achieve my goal to export my security technology by being in the right place at the right time” - Staff Security For more information on how to grow your business overseas, please visit: great.gov.uk 6 Opportunities for UK companies in Latin America and the Caribbean Opportunities for UK companies in Latin America and the Caribbean 7 An engineer operates machinery Mexico produces 3.4 million light vehicles and 190,000 heavy vehicles per year. Brazil is investing extensively into Industry Opportunities for UK companies 4.0. Its Internet of Things (IoT) sector is in Mexico Advanced Engineering valued at £306m and this is set to double by 2020. Aerospace and automotive development continues to grow. Brazil has a • Machine tools, industrial equipment and complex regulatory system, but its sizeable manufacturing technology and Automotive industrial base and a population of over • Specialised steels and alloys 220 million means that demand for new • Forgings, castings and stampings products and services is growing in all areas • Plastic injection moulding of industry. • Electronic components Mexico & Brazil offer the most significant opportunities in Latin Where there is demand for new technology, • Surface finishing, assembly and sub-assembly America, in the Advanced Engineering sector. the cost of doing business in Brazil and machinery Mexico can be reduced by incentive • Components for light vehicles packages. Advanced Manufacturing is well • Opportunities in supply chains at Tier 1, 2 and 3 Mexican manufacturingis fully integrated there is potential to supply them with UK established and is growing exponentially into industrial supply chains in the US technology,
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