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Article: Doing business in Latin America: opportunities and pitfalls.(Advertisement)
- Article from:
- Los Angeles Business Journal
- Article date:
- November 7, 2005
- Author:
CopyrightCOPYRIGHT 2005 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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U.S. companies have the benefit of such a large domestic market that many have been relatively late to enter international markets. The fear of doing business abroad also has led American companies to underestimate the opportunities in regions such as Latin America.
This is a lost opportunity, as Latin America has experienced impressive economic growth. In 2004-05, the average growth was over 5% per year. Bilateral U.S. trade with Latin America totaled $426.8 billion in 2004 and is up 14% in 2005, compared with $514.7 billion with Europe, a mere $231 billion with China and $184 billion with Japan. In addition, the United States has Free Trade Agreements (FTAs) ...