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Your WPG correspondent was understandably chagrined when upon learning that he was going to Bogotà, Colombia his daughter said: "But daddy, I can't afford to pay the ransom if you get kidnapped." Never mind that your correspondent can't pay his ransom either, even if demanded by cut-rate bad guys.
What struck me about her warning is the pervasive belief that Colombia is still the violent playground of narco thugs and guerrilla fighters intent on replacing those in power with themselves.
The good news for people interested in doing business there is that those days are over. Colombia is a safe, stable and economically vibrant country. Growth last year was over 5 percent and is expected to be at least that for 2014. An anticipated peace treaty with the FARC rebels, who engaged in the kidnappings and worse that damaged the country’s reputation, will likely stimulate additional growth and foreign investment, as will a largely successful campaign to rid the country of the drug cartels. If you have heard of the cities of Cali and Medellín, chances are the association is not with business opportunities. Today, it should be—and remember that the population is 47.6 million, many of whom have money to purchase imported goods.
Spending on much needed roads throughout the country is expected to top many billions of dollars over the next few years. The development of onshore oil and gas deposits will generate foreign currency needed to pay for the infrastructure.
This is not to say that all is perfect. The gap between rich and poor is too great and tax evasion by the former is rife. Corruption needs taming, and improvement in public education and healthcare is long overdue. There will be business opportunities in these sectors too.
Meanwhile, a market that’s now the third largest in South America beckons, and suppliers in the U.S. and Europe enjoy enhanced access because of free trade agreements whereby import duties are zero or will be after a few years. The U.S. enjoys a number of benefits over its competitors because of proximity (Houston and Miami are about a three-hour flight from Bogotà with frequent service by multiple airlines) and there are many Colombians living in the U.S. My seatmate on an American Airlines flight from Miami works for a midsize Florida company with customers in Bogota. Proximity is a selling point because it makes after sales service less expensive to deliver.
A delegation of U.S. companies visiting Bogotà recently under the auspices of the American Chamber of Commerce Colombia and the U.S. Embassy were observed signing distributor agreements for dredging equipment, pet food, e-marketing services, security technology (needed to keep the bad guys at bay), an organic potion for killing pesky fruit flies, and an impressive array of other stuff. One Florida-based company with 100 employees anticipates sales of more than $30 million over the next few years. The international marketing manager, making her first visit to Bogota, described herself as "thrilled" by the opportunities that exist here. Prior to her arrival, the company's international sales comprised 5 percent of total revenues. That's likely to perk up smartly.
If you are willing to give Colombia a second or a first look, chances are good that you might find yourself among the thrilled, or at least the favorably impressed.
| Product Model | Inside Diameter | Outside Diameter | Thickness |
| PSMF506050A51 bearing | 50 | 60 | 50 |
| PSMF506035A51 bearing | 50 | 60 | 35 |