Promoting business opportunities in the Andean region: Great success: seminar organized by CAF in Japan

"Total success" and "a small sample of the extensive possibilities for investment which our countries offer to capital from industrialized economies," was the opinion of CAF President & CEO Enrique García, during the seminar "Japan and the Andean countries: a great business opportunity," held on October 31 in the city of Tokyo, Japan.

The objective of the event organized by CAF was to strengthen communication channels between Japan and CAF member countries, attract investment and technology, along with managerial capacities and techniques. The seminar was sponsored by Japan’s Export Import Bank and coordinated by the Japanese Institute for Overseas Investment (JOI).

In the first part of the 11-hour marathon meeting ministers of State and high level executives from the central banks of the five Andean countries presented a macro-view of their economies, economic potential, and the prospects and main opportunities for business in the region to over 300 members of the Japanese business and financial community. They emphasized the consensus about promoting direct investment, developing business contacts for the short and medium term, business missions and company and technology cooperation schemes; as well as stimulating joint ventures and strategic alliances.

Next, the event focused on individual country presentations, concentrating on particular cases, specific projects and opportunities of interest to the Japanese business community, including important aspects such as capitalization processes; and investment in oil and gas, power generation and distribution, telecommunications, road infrastructure, privatization, ports, mining, light and heavy industry, and agroindustry.

CAF - financial institution formed by the five Andean countries - provides trade, investment and development banking services. Its other partners are Mexico, Chile, Trinidad and Tobago, shortly to be joined by Brazil.

In February this year, the Corporation organized in Tokyo a first preparatory meeting to sound opinion and discuss the proposed objectives with the Japanese financial and business community and jointly evaluate the potential for business opportunities in the Andean area. The second meeting was held in June in Caracas with the former Japanese Vice Minister of Finance and adviser to Nikko Securities, Makoto Utsumi, which defined technical details and led to the success achieved in the Asian nation.

The members of the Andean countries’ delegations in Japan were: Bolivia: Jaime Villalobos, Minister of Economic Development Mario Reyes Chavez, National Secretary of International Economic Relations Colombia: Rodrigo Villamizar, Minister of Energy and Mines Miguel Urrutia, general manager of Banco de la República Ecuador: Ana Lucia Armijos, President of the Monetary Board Mauricio Valencia, Acting Director of the Central Bank of Ecuador Peru: Jorge Camet, Minister of Economy and Finance Carlos Montoya, Executive Director of the Private Investment Promotion Commission Venezuela: Luis Raúl Matos Azócar, Minister of Finance.