The Business Travel Magazine Feb/Mar 2019

DEPARTURES
Focus on... Latin America
Comprising 20 diverse
nations, Latin America
covers a vast area of
South and Central
America. Countries within
the region represent
some of the world’s
largest economies, writes
Benjamin coren
Latin America loves Great Britain.
In 2016, countries in the region
imported £12.5billion of UK goods
and services, with total trade both
ways hitting £22.1billion.
With its exit from the European
Union imminent, Britain needs to
adapt as a global trader and
rapidly-developing nations with
populations keen to consume are
key to the UK's future success.
And Latin America's young
population, diverse economy and
bountiful natural resources put it in
a strong position as a trading
partner. Speaking last year in Leeds
at the Northern Powerhouse and
Latin America Trade Corridor
Report, Minister for Investment
Graham Stuart MP said: “The IMF
is predicting that 90% of global
growth in the next 10 to 15 years
will come from outside the EU.”
He added that the Department for
International Trade is making the
region a high priority.
“UK export finance has doubled
government support for firms
looking to export into countries
across the region, including up to
£5billion for Mexico, £4.5billion for
Chile and £3billion for Brazil.”
Brazil is the seventh biggest
economy in the world with a GDP of
$2.3trillion and companies such as
Rolls Royce, Shell, BP and Experian
operating there. It is Latin America’s
largest economy and acts as a
gateway for businesses in
neighbouring countries. Top
exports from the UK to Brazil
include machinery, vehicles,
times zones: GMT -3hrs
in Argentina and Chile;
GMT -5hrs in Colombia and
Peru; GMT -2hrs in Brazil.
currency:
Argentine Peso: £1= $47.53
Brazil Real: £1= R4.75
Chilean Peso: £1= CLP865.99
Colombian Peso: £1= COP4048
Peru Sol: £1= PEN4.30
dialling codes: Argentina: +54;
Brazil: +55; Chile: +56;
Colombia: +57; Peru: +51
visas: UK passport holders do
not need a visa to visit Latin
American countries as a tourist.
Ensure passports have six
months validity on entry date
84 THEBUSINESSTRAVELMAG.com