Colombia is Canada’s third-largest trading partner, Québec’s fourth largest in Latin America and second largest in South America. In addition to a legal environment favourable to foreign investment, the country has some 15 trade agreements, including the Free Trade Agreement with Canada, in force since 2011. Its membership in the Organization for Economic Cooperation and Development promotes compliance with high-quality standards, alignment with international procedures to ensure best practices, and implementation of public policies with control mechanisms in the various sectors of the economy. The construction sector represents one of Colombia’s most dynamic productive activities. It is one of the government’s top priorities. BMI Research estimates that by 2021, the construction sector in Colombia will be worth $74.6 billion, a 69.2% increase since 2016. This outlook is underpinned by the continued progress of several infrastructure projects led by the Fourth Generation (4G) Program and the recovery of residential and non-residential construction investment bolstered by improved economic prospects.
Peru has a significant infrastructure deficit. With the country’s explosive urbanization over the past 30 years, cities must meet the infrastructure needs of new residents quickly. Above all, Peru needs large investments in infrastructure and technology to fuel its growth and enhance social welfare. Peru’s strong macroeconomic institutions behind its business-friendly policies provide a favourable business environment for foreign investors. The infrastructure, building products and related services sector undoubtedly offers plenty of opportunities for Québec companies.