In order to continue this unprecedented economic

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almost 1,000 air cargo transportation trips annually from Colombia. In order to continue this unprecedented economic growth and development the government has aggressively sought and successfully signed nearly a dozen free trade agreements, which will provide the cosmetics sector with access to 1.5 billion consumers worldwide (4. Cosmetic and Toiletries Sector in Colombia). Due in large part to the aggressive maneuvering of the government, Colombia’s private sector has seen a sharp rise in many areas of manufacturing and production. Not left out of this rise is the cosmetic industry, which has grown at astronomical rates. Production of cosmetics and cleaning supplies has doubled in the last 6 years from $1.588 billion USD to US $2.730 billion. Colombia’s government and private sector are working hard to promote their country as a world leader in production and exportation of cosmetics made from natural ingredients by 2032. Like many developing countries, Colombia has realized the advantages of seeking to include all citizens in their labor force. Women are a large part of the potential success Colombia seeks and by fully utilizing all able body adult workers; they seek to separate themselves from other countries in the region. The Institute for Management Development (IMD) has reported Colombia has the highest percentage of females in managerial positions in the region. The current female rate of 51% has been rising in recent years, 0.3 % between June 2010 and June
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Adkins 2011. Male activity and participation has also increased in the cosmetic market as men’s personal care moved around $8.6 million during the same period and is estimated to grow by 20% this year. Cosmetic growth World vs. Latin America In 2010, sales inside Latin American grew to over 6,235 million and are expected to reach 7,662 million by 2014 according to Euro monitor International Unit. This makes Colombia the fifth-biggest cosmetic market in Latin America Gateway to New Markets Latin American countries, Ecuador, Peru, and Venezuela see the most of Colombia’s exported goods. After the trade agreement was signed, private sector companies were given the opportunity to produce, or locate their logistic centers with Colombia being a regional hub. Logistically, Colombia is beginning to take advantage of its location on the continent of South America. Principle destinations of sector % 2010 Total: US$ 410.5 Million Along many other advantages, Colombia benefits from appropriate export logistics. Being located in the northern part of South America with seaports and easy access in and out of Colombia, its logistical advantages are numerous. The country constitutes a key staging post for shipping companies covering north- south- North Sea routes, and the proximity of the Panama Canal facilitates east-west interconnections and access to the two oceans, allowing for quicker supplying which in turn positively affects companies’ bottom lines as product arrives and is sold in a more timely fashion.
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