Colombian Agribusiness Sector

Colombian AgribusinessSector 2011 1

CONTENT1. INTRODUCTION ................................................................................................................................... 32. TRENDS AND FEATURES OF THE COLOMBIAN AGROBUSINESS SECTOR ................................ 43. COLOMBIA: AN OPPORTUNITY FOR INVESTING IN THE AGROINDUSTRIAL SECTOR .............. 54. SECTOR INCENTIVES ....................................................................................................................... 115. PRODUCTIVE TRANSFORMATION PROGRAM FOR FOUR AGROINDUSTRIAL SECTORS ....... 156. PROEXPORT SERVICES ................................................................................................................... 157. ENTITIES OF INTEREST .................................................................................................................... 15 2

1. INTRODUCTIONAgriculture and livestock have historically been one of the major engines of Colombian economicdevelopment. The sector accounts for 9% of the GDP, 21% of exports, and 19% of all jobs and boastsenormous, sustainable potential in terms of competitive and comparative advantages. The Colombianagriculture and livestock sector is an attractive global destination for foreign direct investment.Through the public-private Productive Transformation Program, the Colombian government is working todrive development and transform 8 industrial sectors and 4 agriculture and livestock sectors (beef;chocolate, candy making and related raw materials; palm, oils and fats; and shrimp farming) to make themplayers on the global scale.Below are a few of the characteristics that make Colombia an intriguing country for agriculture andlivestock development.Agriculture and Livestock: A Great Opportunity for Investment  Wide range of agriculture and livestock options thanks to Colombias geographic position and characteristics, and the availability of its resources.  In the last 4 years, Colombian agricultural production has increased by more than 2.5 million tons, while meat (pork, beef and poultry) production has increased by more than 500,000 tons.  Colombia is one of the top regional and world players in the refined sugar market as Latin Americas second and the worlds seventh largest exporter.World Class AgribusinessSectors: Beef; Chocolate, Candy Making, and Related RawMaterials; Palm, Oils and Fats; and Shrimp Farming  Colombia has the fourth largest herd of cattle in Latin America, with a 26.9 million head inventory in 2008. The Colombian Brahman, an ideal breed for producing meat in tropical conditions, has the highest genetic quality in the world.  According to the International Cocoa Organization, the flavor and aroma of Colombian cocoa are classified as "fine," a category that describes only 5% of the worlds beans.  The cocoa yield rate is among the highest of the major Latin American producers (0.55 ton/ha). Colombia also has the highest productivity of sugar per hectare in the world (4.6 ton/ha/year).  Colombias 1,700 kilometer (1,000 foot) long Caribbean coast provides shrimp farming opportunities that do not harm ecosystems such as mangrove swamps or inlets.  The CENIACUA is one of the most advanced shrimp industry research centers in the world and has positioned Colombia as leader in shrimp genetics. 3

2. TRENDS AND FEATURES OF THE COLOMBIAN AGRIBUSINESS SECTORAgriculture and Livestock: Major Players in the Colombian EconomyAgriculture and livestock represent 9% of the GDP and their foreign sales represent 21% of all exports.The sector provides 19% of jobs nationally and 66% of jobs in rural areas. Of the 10 major non-traditionalexports, 7 are from the agriculture and livestock sector. Between 2004 and 2009, the sectors real annualGDP growth rate was 2.3%, reaching 3.9% in 2006 and 2007. This behavior can be attributed not only toan increase in external agricultural sales (from USD $3 billion in 2004 to USD $6 billion in 2009), but alsoto an expanded internal market.Colombia has a wide range of agriculture and livestock options thanks to the countrys geographicposition and characteristics.As a tropical, equatorial country, Colombia receives constant sunlight throughout the year. Colombiasdifferent elevations also produce a wide variety of climates, from snow-capped peaks to the extensiveOrinoquía savannas in the eastern plains and the Caribbean coast to the north.In the last 4 years, Colombian agricultural production has increased by more than 2.5 million tons,while meat (pork, beef and poultry) production has increased by more than 500,000 tons.Growth has taken place for both traditional export products (i.e. bananas) and new ones (palm, fruits,vegetables). Growth in domestic demand has also led to production growth for plantain, potatoes, fruits,vegetables and poultry, proof of the development potential within Colombia.Consequently, Colombia has varied and growing agricultural and livestock production. Of Colombiasagricultural production during 2009 (26 million tons), 66% was from permanent crops (17.1 million tons)while the remaining 34% (8.9 million tons) were temporary crops. Sugar cane was the permanent cropwith the highest production (23.4% or 4 million tons), followed by fruits (22%, 3.7 million tons) and plantain(19%, 3.2 million tons). Among temporary crops, rice had had the highest production (29% or 2.6 milliontons), followed by potatoes (28%, 2.5 million tons) and vegetables (18%, 1.6 million tons). Between 2005and 2009, permanent crops grew by 8% while temporary crops grew by 16%.In recent years, Colombia has gone through a production shift from short-cycle products(temporary crops) toward long-cycle agricultural activities (permanent crops).Trade markets opened up during the nineties. Greater external supply provided short-cycle products suchas grains, which created more internal space for expanding crops such as palm oil, cocoa, plantain andfruit. 4

3. COLOMBIA: AN OPPORTUNITY FOR INVESTING IN THE AGRIBUSINESS SECTOROnly 3% of Colombian territory is used for agricultural purposes. Another 48.7% is covered bynatural and colonized forests, and 34% is used for livestock activities (most pastures are dedicated toextensive cattle farming). Table 1. Total Surface and Land Use in Colombia 2009 Hectares Current Use Distribution (%) (millions) ESTIMATED AGRICULTURE AND LIVESTOCK USE 50.9 45% Agriculture 3.4 3% Livestock 39.1 34% Forests 7.2 6% Other agricultural uses /1 1.02 1% NON-AGRICULTURE USE 59.6 52% Uncultivated forests 45.04 39% Other uses /2 14.6 13% MARGINALLY CULTIVABLE 3.5 3% TOTAL SURFACE AREA 114.1 100.0% 1. Uncultivated land, bodies of water and others 2. Cultivated, planted forests, bodies of water, urban and semi-urban areas Source: Farmers Association of Colombia (SAC) based on the Ministry of Agriculture and Rural Development (MADR)Colombia is among the top countries in the world in terms of greatest agricultural land expansionpotential.According to the FAO, Colombia has the 22th greatest potential among 223 countries for agriculturalexpansion without affecting natural forests. According to the Ministry of Agriculture and RuralDevelopement, this growth potential is estimated to be 12 million hectares, including areas that are notutilized and others that have traditionally been used with no regard to productive criteria. Table 2. Global Agricultural Land Expansion Potential 2008, Millions of Hectares Agricultural Total Surface Agricultural Ranking Country Surface Area Area Potential (**) (*) 1 China 959 552 165 2 Australia 774 425 127 3 United States 963 411 123 4 Brazil 851 263 79 5 Russia 1,709 215 64 6 Kazakstan 272 207 62 7 India 328 179 53 8 Saudi Arabia 214 173 52 9 Sudan 250 136 41 10 Argentina 278 133 40 22 Colombia (*) 114 42 12 223 Total 13,442 4,931 1,473 * Figures include livestock. ** Area potential was estimated assuming a 30% increase in the current agricultural area. Source: Farmers Association of Colombia (SAC) based on the United Nations Food and Agriculture Organization (FAO) and the Ministry of Agriculture and Rural Development (MADR)Colombia has one of the lowest arable land usage rates in Latin America. Barely 8% of the potentialarable land is effectively used. 5

Graph 1. Arable Land Usage Rates (Current/Potential) 2008 Ecuador Chile Costa Rica Colombia Brazil Peru Mexico Source: Farmers Association of Colombia (SAC) based on the United Nations Food and Agriculture Organization (FAO)The availability of water resources in Colombia is among the highest in the world.With nearly 45,402 cubic meters per capita per year, the country exceeds the South American averageand is significantly higher than other regions such as North America, Europe and Asia. Graph 2. Availability of Water Resources per Capita 2007, Thousands of Cubic Meters M. East and N. Africa Car. Cent. America & Colombia Oceania Sub-Saharan Africa Europe Asia (exc. M. East) North America South America Source: Farmers Association of Colombia (SAC) based on the World Resource Institute.Colombias agriculture and livestock trade with the world has grown significantly in recent years.Between 2004 and 2008, the annual value of exports and imports grew 13% and 12%, respectively.Colombian exports grew from approximately USD $3 billion in 2004 to nearly USD $6 billion in 2008,becoming an important source of currency for Colombia alongside the mining industry. 6

Graph 3. Foreign Agricultural and Livestock Trade 2002-2009, Millions of USD 7,000 6,000 5,000 4,000 3,000 2,000 1,000 Exports Imports Source: Administrative Department of National Statistics (DANE)Given their extensive production tradition with consolidated markets in Europe and the United States,coffee, flowers, banana and sugar make up 69% of exports. Nevertheless, in recent years, exports haveshifted in favor of other products such as palm oil, beef, certain fruits and vegetables, sugar- and cocoa-based candy, and foodstuffs included in chapters 19 through 21 of the Tarriff Duties.Colombia is one of the top players in the global and regional agricultural markets. After Brazil,Colombia is South Americas largest exporter of refined sugar. Overall, Colombia is number seven in theworld. In terms of oil palm, Colombia is Latin Americas top producer and the fifth largest exporter in theworld. Table 3. Colombias Agricultural Rankings in the World and in Latin America - 2008 World Latin American Product Tons Ranking Ranking Green coffee 3 637.4 2 Plantain 3 109.4 3 Banana 4 1,639,833 3 Oil palm 5 315.6 1 Refined sugar 7 546.5 2 Dry beans 8 57.9 2 Yucca starch 9 650.0 3 Candy 10 134.1 2 Coffee extract 15 15.7 4 Bread mixes and doughs 16 19.7 1 Corn flour 20 6.8 7 Source: United National Food and Agriculture OrganizationMajor markets for Colombian exports continue to be the United States (33%), the European Union(24%), and Venezuela (15%), which account for a combined 72% of Colombian agricultural andlivestock sales abroad. 7

Table 4. Primary Buyers of Colombian Agriculture and Livestock Exports Annual Average 2005-2009 Ranking Country Exports, Millions of USD Share European Union 1,341 24.1% 1 United States 1,844 33.1% 2 Venezuela 874 15.7% 3 Germany 365 6.6% 4 Belgium 317 5.7% 5 Japan 271 4.9% 6 Canada 126 2.3% 7 Italy 119 2.1% 8 United Kingdom 155 2.8% 9 Peru 102 1.8% 10 Spain 114 2.1% Others 1,273 22.9% 187 Total 5,564 100.0% Source: SAC, based on the Administrative Department of National Statistics (DANE)To diversify the markets to which Colombian agriculture and livestock exports are being sold, the nationalgovernment has been carrying out a series of negotiations to increase Colombian penetration in the worldeconomy. Trade agreements have been reached with Mercosur, the United States, Central Americas"northern triangle" (El Salvador, Guatemala and Honduras), Chile, Canada, the EFTA (European FreeTrade Association: Switzerland, Iceland, Norway and Liechtenstein) and the European Union in recentyears.Negotiations have been initiated with South Korea and Panama. Also in the governments sights for tradearrangements are China, Australia, Costa Rica, India, Japan, the Dominican Republic, and more.The dynamics of international markets and recent structural changes in the world agriculture economymake Colombia an attractive investment alternative. This is especially true when one considersColombias agricultural development potential in terms of the unprecedented global growth in fooddemand, the development and growth of biofuels, increased prices for major agricultural supplies, andclimate change.To take advantage of these opportunities, the Ministry of Agriculture and Rural Development hasidentified palm oil, rubber, cocoa and sugar cane as products with high production capacitypotential. 8

Table 5. Agricultural Development Potential in Colombia Planted Additional Production Production Area Productivity Potential Area Potential Product (thousands (thousands (tons/hectare) (thousands of (thousands of of tons) of hectares) tons) hectares) Oil palm 859 237 3.62 3,036 11,001 Rubber 3 2 1.30 Cocoa 59 108 0.55 3,644 2,006 Sugar 3,625 376 9.63 3,521 33,918 cane Fruits 3,491 229 15.22 210 3,204 Vegetables 1,802 90 19.99 45 901 Total 9,838 1,041 49.01 10,458 51,032 Source: Farmers Association of Colombia (SAC) based on the Ministry of Agriculture and Rural Development (MADR)To exploit these potentials, the public and private sectors jointly developed the "Apuesta Exportadora 1Agropecuaria" . This study identifies the most promising agriculture and livestock products for export andthe best regions for their development. It also designs tools for implementation. The goal is to increaseplanted area by 2.8 million hectares by 2020. Table 6. Goals for Cultivable Area in Colombia 2006 and 2020, thousands of hectares Products 2006 2020 Increase Late-yield crops /1 433 1,425 991 Fruits /2 83 167 84 Vegetables /3 17 56 38 Potential exports /4 96 164 67 Traditional exports /5 1,001 939 - 61 Ethanol (yucca and sugar cane) 40 215 175 Commercial forestry 220 1,429 1,208 Total Exports 1,893 4,398 2,504 Other crops 2,895 3,198 302 TOTAL CROPS 4,789 7,597 2,807 1. Late-yield crops: Palm, cocoa, rubber, macadamia, chestnut. 2. Fruits: pitaya, mango, bananas, Persian limes, feijoa, avocados, ground cherries (cape gooseberries), pineapple, passion fruit, lulo (naranjilla), blackberries, sweet granadilla, and tree tomatoes (tomarillos). 3. Vegetables: garlic, asparagus, onions, broccoli, cauliflower, lettuce and artichoke. 4. Potential exports: tobacco, cotton, yellow potatoes. 5. Traditional exports: coffee, flowers, sugar, plantain and banana. Source: Ministry of Agriculture and Rural Development (MADR) - Apuesta Exportadora AgropecuariaWith this increase in planted area, and the yield gains from the productive transformation process,Colombia will be able to increase its production by 18 million tons in 2020, as shown in the goalsincluded in table 7.Within this collection of products, it is important to highlight certain crops such as cocoa, ethanol, palm oiland certain fruits and vegetables which, because they are tropical products with some relativeadvantages, will diversify and lead agricultural production in Colombia.  For ethanol, the goal is to increase production from approximately 800,000 liters daily to 3.8 million liters daily in 2020.1 Medium- and long-term strategy for increasing the penetration of the Colombian economy in global markets. 9

 Colombia is making great strides to increase cocoa production, not only to meet the domestic industrys high demand, but also because there are enormous exportation opportunities outside of the country. Colombia is currently the worlds ninth largest producer of cocoa, despite accounting for a tiny share of the international market.  There is substantial agricultural and agroindustrial potential for some fruits and vegetables. Although produce exports are strong, countries with similar characteristics and production processes are actively participating in the international market with added value. Table 7. Goals for Agriculture and Livestock Production in Colombia 2006 and 2020, thousands of tons Products 2006 2020 Increase Late-yield crops 742 3,859 3,116 Fruits 1,347 3,903 2,556 Vegetables 341 1,116 774 Potential exports 163 380 217 Traditional exports 4,812 5,824 1,012 Total Agricultural Products 7,406 15,082 7,676 Other crops 16,241 26,574 10,332 Total Agricultural Production 23,648 41,657 18,008 Commercial forests (m³) 2,050 12,000 9,950 Ethanol (average liters daily) 878 3,798 2,920 Aquaculture 63 132 68 Livestock inventory (heads) 25,677 51,478 25,801 Beef production 827 1,731 904 Milk production 892 1,400 507 Source: Ministry of Agriculture and Rural Development (MADR) - Apuesta Exportadora AgropecuariaThe domestic market, for both consumption and the growing demand of the food processingindustry, has developed substantially in recent years, thus demonstrating the potential for growthand the opportunities it creates for agriculture and livestock producers.  Annual per capita chicken consumption in Colombia rose from 15 kg in 2004 to 23 kg in 2008; pork consumption increased from 2.8 kg to 4 kg during the same period.  The apparent consumption of yellow corn increased from 3.1 million tons in 2004 to 4.4 million tons in 2008. Soybean meal increased from 600,000 tons to nearly 900,000 tons in 2008.  This growth in consumption and industrial needs led to the importation of supplies such as corn (1 million tons in three years) and soybean meal (351,000 tons in three years) to prepare balanced foods for livestock activities, especially poultry and swine farming.Considering this market opportunity, a group of investors, agricultural farmers, and livestock farmers withsupport from the government undertook a project on Colombias high plains to establish an AgroindustrialComplex to consolidate the soybean-corn-balanced food-pork-poultry cluster. The intent is to producecompetitive soybean and corn products in conditions similar to those in the "closed" Brazilian market andto subsequently produce pork and poultry meat to supply Bogotá. 10

4. SECTOR INCENTIVESSince 2003, government spending in the agriculture and livestock sector has increased, not onlyby increasing budget resources, but also by redirecting expenses. Graph 6. Agriculture and Livestock Sector Budget 2003-2008 Investment/Total Budget Budget/GDP (Secondary Variable) Source: Ministry of Agriculture and Rural Development (MADR)Programa de Desarrollo Rural con Equidad (DRE) ("Rural Development Program with Equality(DRE)”), created in 2007, is a program that provides support to farmers through credit, investmentcapital and, on a smaller scale, direct payments for storage and other agricultural services 2.The program aims to facilitate the adjustment process for sectors that face greater pressure frominternational markets. It also works to promote sector development and competitiveness. Thelaw established an annual allocation of COP $500 billion (approximately USD $250 million) thatwill be adjusted annually according to the Consumer Price Index. The program is undergoingmodifications, but a general overview is provided below.It is important to know that the program applies just to medium and large producers integratedwith small producers, where the participation of small ones is at least 60% of the planted area.The resources will be managed by Finagro under the interventory of National University ofColombia.2 Law 1133 from April 2007. 11

Table 8. Components of the Programa de Desarrollo Rural con EquidadProgram Components Objective Conditions Soft loans for adapting land, purchasing Granted through a commercial bank at Special line of credit – machinery and equipment, the market introductory rate, minus 200 General improving production infrastructure, basis points or adding value to products Incentive for rural Support for new investments in infrastructure and 20% or 40% of the investment is capital development – land and new agricultural equipment and recognized, depending on whether it is General machinery to improve competitiveness a large-medium or small producer Cofinancing water capture,Public call for proposals water conduction, intrafield distribution, Up to 70% of the investment costs are for irrigation and adaptation, recognized draining and field drainage projects Granted to producers whose total assets are less Up to 80% of the total technical Technical assistance than 1,765 SMMLV* (approximately USD assistance contracting costs are incentive (IAT) $522,000) subsidized SMMLV: minimum monthly legal salary. In 2011, the SMMLV was COP $535,600, approximately USD $267. Source: Ministry of Agriculture and Rural Development (MADR)For legal purposes, Colombian producers are classified as small, medium, and large, depending on theirassets. Natural or legal persons with assets valued between 108 and 145 monthly minimum salaries(COP $57,9 million and COP$ 77,6 million approximately US$32,000 and US$ 43,000) are consideredsmall producers.Agriculture and Livestock Credit- the Colombian agriculture and livestock sector currently benefits from:  A commercial agriculture and livestock bank, Banco Agrario de Colombia, with assets of nearly USD $12 billion.  An agriculture and livestock financing fund, FINAGRO, with approximately USD $2.4 billion in assets.  A wide range of credit opportunities. Table 9. Lines of Credit for the Agriculture and Livestock Industry Working Capital  Production  Support Source: FINAGRO  Sales  Seeds  Animal Purchases Investment  Machinery and Equipment  Infrastructure  Sales  Support Services Restructuring Assets and Consolidating LiabilitiesThe agriculture and livestock credit policy also includes risk coverage resources for dealing withexceptional situations not related to developing the productive activity. The sector features:  Agriculture and Livestock Guarantee Fund (FAG) that covers 50% for large producers and up to 80% for small producers. Credits were guaranteed for an amount of approximately USD $500 million in 2008, with coverage that reached 72% of this amount. 12

 Coverage Program for Sectors that Export and for Sectors that Compete with Imports: - In income. USD $1.3 million in 2008 as an incentive for corn, soybean and sorghum producers to acquire protection for exchange rates or drops in international prices. - For exchange rates. Geared toward exported products to offset the exchange rate risk. 450 beneficiary producers with incentives that reached USD $31 million to cover USD $560 million in external sales.  Agriculture and Livestock Insurance: Product investments are protected from climactic risks such as rain, freezing, strong winds, floods, mudslides, drought, etc. The national government grants a subsidy between 30% and 60% of the value of the premium that producers acquire through the Colombian insurance system. In 2008, nearly 6,000 policies were issued for an insured valued of approximately USD $102 million, which meant that nearly USD $4 million in subsidies were distributed.Some agriculture and livestock trade policy instruments have been developed such as the Andean 3Pricing System to counteract the high volatility of some products prices on the internationalmarket.Other agriculture and livestock trade policy instruments include:  Public Administration Mechanism for Agriculture and Livestock Contingencies, MAC. Guarantees that Colombian products such as beans, soybeans, yellow corn, white corn, and others will be absorbed by the market.  Tariff contingencies for specific products.  Special agriculture and livestock safeguards for various agreements.  Safety guidelines. Standards within the OMC parameters (strengthening the safety system for plants, fruits, meat).Single-Business Agroindustrial Free Trade ZonesThese zones are designated so that a single business can request free trade zone status for a production 4process, provided that the company complies with the following requirements : Table 10. Agribusiness Free Trade Zone Requirements Investment (millions of USD): OR employees hired: 20.09 500 Subsectors that classify for Agorindustrial Free Trade Zone status: Biofuels Meat and Fish Animal and Vegetable Fats and Oils Dairy Products Processed fruits and vegetables or produce used in preserves, tea, soup, broths, vinegar, sauces or yeasts. Coffee and Threshed Goods Source: Ministry of Commerce, Industry and Tourism3 Variable tariff system.4 Reference exchange rate: US$ 1 = COP 2,000. The monthly minimum legal salary for 2011 is COP $535,600. The SMMLV and therepresentative market rate are subject to change. 13

Benefits:  15% income tax  No customs taxes are incurred or paid (VAT, DUTIES).  Origin recognition within the framework of trade agreements (except with Peru)  Ability to sell on the local market  VAT exemption for raw materials or imported goods from the national customs territory. 5Existing Tax Incentives for the Agricultural Sector in Colombia  Income tax exemption for late-yield crops. Between 2004 and 2014, new crops such as cocoa, rubber, palm, citrus and fruit trees are exempt from net income tax for a 10-year period from the 6 beginning of production .  The Plan Vallejo special import and export system is a mechanism that grants duty and VAT exemptions or deferrals for importing supplies, raw materials and capital goods. To be eligible for Plan Vallejo, production must be completely or partially exported. The types of Plan Vallejo that exist are explained below.Plan Vallejo for Raw Materials and Supplies: For temporary importation of raw materials and suppliesto be used exclusively for producing goods for export. The plan provides VAT and duty exemptions that donot require special authorization. They do, however, require that 60% of the goods produced with this rawmaterial be exported (or sold in a free trade zone).Plan Vallejo for Capital Goods, Spare Parts and Intermediate Goods: This version of the plan makesit possible to temporarily import spare parts and intermediate goods for agricultural use. These are listed 7in Resolution 1148 from 2002 . In these cases, after program approval from the DIANs Registration andControl Division (www.dian.gov.co), producers may be eligible to carry out temporary importations exemptfrom duties and with suspended or deferred VAT for the length of the program.  Legal Stability Contracts are a mechanism for the Colombian government to guarantee for investors that if any regulations identified in the contract as "determining statutes for investment" are adversely modified, producers will have the right to continue applying the original regulations for the length of the respective contract. The contract guarantees legal stability for a period of 3 to 20 years, depending on the investment project. To be able to request the contract, the investor must make new investments or increase existing 8 investments to 7,500 monthly minimum legal salaries (approximately USD $2.01 million) or more . Certain regulations may not be "stabilized." For more information, please visit www.investincolombia.com.co/how-to-invest.html5 Tax statute.6 Law 939 of 2004.7 http://www.mincomercio.gov.co/eContent/NewsDetail.asp?ID=567&IDCompany=18 The reference exchange rate in 2000. The investor must convert the investment from pesos to dollars at the time the investment is made. 14

5. PRODUCTIVE TRANSFORMATION PROGRAM FOR FOUR AGRIBUSINESS SECTORSThe Productive Transformation Program is a long-term public-private partnership dedicated to diversifyingsupply and creating world-class sectors. Through a public competition, four agroindustrial sectors wereselected to be assessed and compared on an international scale as a way to define a development plan topropel these industries onto the world stage. These sectors are beef; chocolate, candy making andrelated raw materials; palm, oils and fats; and shrimp farming. PROEXPORT SERVICESThe Colombian Government places special emphasis on generating favorable conditions and providingthe best support possible to investors. PROEXPORT came in 16th place among the best investmentpromotion agencies in the world and offers various services to foreign investors including:  Information requests (economic, legal, procedural or sector-specific information)  Contacts with the public and private sectors  Itinerary planning for investors who decide to visit Colombia  Support services for investors already established in the country  Evaluation and improvement of the business environmentThese services are offered free of cost. The main objective is to develop new businesses through efficientand friendly processes. All information provided during the process is maintained confidential.PROEXPORT has support teams in 21 cities around the world. It would be our pleasure to helpyou. 6. ENTITIES OF INTEREST  Sociedad Agricultores de Colombia (Colombian Farmers Association, SAC) Technical Vice Presidents Office ( 1) 2410035  PROEXPORT Office of the Vice Presidency for Foreign Investment; Office of the Vice Presidency for Exports (1) 5600 100 www.investincolombia.com.co 15

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