Price of the dollar, between close to 5,200 pesos and export opportunities

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The US currency continues to hit historical records in Colombia thanks, among other things, to the discussion of the tax reform project of the Government of Gustavo Petro

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Price of the dollar, between close to 5,200 pesos and export opportunities ;n

The rise in the dollar responds to higher interest rates in the world and global uncertainty.

The price of the dollarr does not stop the momentum it has on the rise. This holiday Monday, in Next Day operations, it reached 5,101 pesos intraday, which meant an increase of 40 pesos< /b> versus Friday's representative market rate(TRM).

The momentum of recent days, according to economists, is due to the discussion of the project oftax reform of the Government of Gustavo Petro, which has already passed the second debate in the Congress of the Republic and this Tuesday will have conciliation of articles between the Senate and the House of Representatives.

According to the chief economist of Corficolombiana, Julio Romero, before the discussion of the economic initiative the currency will touch new all-time highs.

“This is a project that will affect investment, growth and especially the hydrocarbon sector, so it is very likely that we will continue to record new highs above 5,200 pesos in the coming days,” Romero told La República.

Internationalization

For her part, given the export opportunities for companies with such a high dollar, the executive president of the Chamber of Commerce Colombian American (AmCham Colombia), María Claudia Lacouture, assured that Colombian companies should see internationalization not as an exchange rate strategy, but as a long-term opportunity that can benefit them.

< p class="paragraph">“Today, with a dollar that exceeded 5,000 pesos, companies that export have an advantage over those that do not export, indeed, but we cannot see exports only when there is a favorable exchange rate. We also have to see it as a balance between national and international risk”, emphasized Lacouture.

Regionalization, key to identifying export opportunities

The president of AmCham Colombia also emphasized the importance of a regionalization to identify the export opportunities that exist in each of the regions of the country.

“Colombia is a country of regions that has varied and complemented opportunities according to its geography, according to what the land gives and according to what each one of the cultures that we have regionally, speaking of our country, also gives, which has enormous wealth to take advantage of”, he noted.

In this sense, Lacouture highlighted that companies can take advantage of opportunities for exports that exist at a regional level regardless of their size or sector.

He explained that today you can see how a small farmer from Caquetá exports ornamental fish to Hong Kong, which is an example of how you can work from the regions taking into account account the opportunities and that, from micro, small and medium enterprises, it is possible to export.

“It is necessary to believe the story, to understand that there are challenges that can be overcome and, at the same time, public-private teamwork is really important because there is also a need for local authorities to work together with everyone, since the export chain It is not only the company, but it comes from the public sector that involves governments, mayors, chambers of commerce, among other actors, to achieve productivity from the regions and thus reach the markets”, he stressed.

For Lacouture, exports are already part of the country's development process, so it is important that more companies take the decision to internationalize.

“In 2021, 34% of GDP will be generated by foreign trade, which indicates that, indeed, there is an opportunity important for Colombia, but exports must be understood as a tool for div ersification and not as an obligation, therefore, we must work to ensure that within companies there is a long-term strategy of internationalization”, he indicated.