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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.
Located at the mouth of the Magdalena River, Barranquilla is the largest multipurpose port along Colombia's Caribbean coast, handling a wide mix of cargo, including containers, dry bulk, liquid bulk and break bulk commodities such as steel.
“We look forward to a long and mutually rewarding relationship as we move forward in our efforts to build a truly world-class port,” Paul Anderson, Port Tampa Bay president and CEO, says in a press release.
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