Port Tampa Bay strengthens Colombia ties

TAMPA — Port Tampa Bay has signed a memorandum of understanding with the Colombian Port of Barranquilla. The agreement calls for strengthening the commercial relationship between the two ports through shared trade and marketing initiatives, technical expertise and best practices.

Colombia, which has one of the largest economies in Central and South America, has become a more attractive trade partner since a 2012 free trade agreement with the United States significantly reduced the regulatory and tariff burdens to trade.

Barranquilla was already a sister city of Tampa and was the site of a Tampa Hillsborough Economic Development Corp. trade mission. During that mission, a delegation of more than 30 Tampa business and community leaders established new relationships and developed potential business opportunities, which Port Tampa Bay reports resulted in an estimated $7.3 million in anticipated sales for local companies.