Latin America is home to several fast-growing markets with many opportunities for UK investors. Join us to hear from British Ambassadors to Chile, Peru, Colombia and Mexico as they share their insights into opportunities for UK plc and provide political and economic updates on the countries and the region.
Following the UK’s recent announcement of the aim to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which could result in improved access to these markets, Latin America could increasingly become a key strategic partner.
Chile has been one of Latin America’s fastest growing economies and currently the UK’s third largest trading partner in the region, with potential for significant increase and opportunities for UK investors in the mining and infrastructure sectors. While Chile experienced its first recession in decades due to the pandemic, the economy is expected to grow by 5.5% in 2021, partly due to a vaccine programme which is leading in the region in terms of per capita vaccination rates.
Peru has one of the best performing economies in the region with an average growth rate of 5.9% and low inflation. The country has long been a key trading partner for the UK and key export sectors include health and life sciences, mining, sustainable infrastructure, and security. The UK is the largest foreign investor in Peru and there is a high demand for UK expertise. The Peruvian economy was hard hit by the pandemic but a rapid rebound is expected in 2021, which will be underpinned by foreign investment.
Colombia is the fourth largest economy and ranked as 2nd in the ease of doing business rankings in the region. Whilst the country’s political stability, growing middle class and improved safety contribute to the ease of doing business, Colombia still suffers from a significant infrastructure gap and low skill levels, and will rely on foreign investment to recover from the economic impact of the pandemic. There are significant opportunities for UK investment in the infrastructure, energy, mining and life sciences sectors.
Mexico is the second largest economy in Latin America and among the fifteen largest economies in the world. The economy contracted by 8.2% in 2020 due to the pandemic, and will look to foreign investment to support its recovery. The country has abundant natural resources, strong macroeconomic institutions and is open to trade. A strategic gateway to both North America and the rest of Latin America and a growing and youthful market, Mexico offers many opportunities for UK investors, with opportunities in automotive and advanced engineering, education, life sciences, financial and professional services and the energy sector.
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