Welcome
to your financing expert for the Latin America region

What tasks do you perform in your role as Mobile Desk for countries in Latin America?

In my role as Mobile Desk Latin America, I am the point of contact for German companies that are active in the region - as well as for their representatives and local companies that want to import from Germany. I advise on the possibilities and advantages of export credit guarantees for securing and financing exports.

Particularly in the countries mentioned, we have found that export credit guarantees are still relatively unknown. I would like to change this - through training courses, participation in and organization of events, as well as visits to local companies, German branches and commercial agencies. Building a local network plays a central role in this.

Incidentally, the term "mobile" is to be understood literally: I am currently working from Peru and will be based in Colombia from mid-May 2025.

What distinguishes the markets in Peru, Ecuador and Colombia?

As similar as the three countries are in many areas, their financial markets differ significantly, which also has an impact on the potential of export credit guarantees.

Ecuador is fully dollarized, while in Peru the US dollar is frequently used in everyday life alongside the local currency. In Colombia, on the other hand, the local currency plays a central role in the financing of projects - regardless of size or sector.

Despite political turbulence, Peru is one of the most macroeconomically stable countries in the region. In Ecuador and Colombia, on the other hand, the current political situation has a greater impact on the economic environment and, in particular, the dynamics of the private sector.

Are there certain sectors that are particularly attractive for German companies in Peru, Ecuador and Colombia?

All three countries offer a wide range of business opportunities for German companies - for example in the areas of industry (e.g. plastics and textile processing) and construction. There is also a great need for investment, for example in the public transportation sector and in the field of renewable energies.

In Peru, mining and the associated infrastructure as well as agriculture are particularly important. Colombia has a larger, diversified economy with potential in many different sectors. Ecuador, on the other hand, is increasingly focusing on investments in large-scale projects - for example in the areas of irrigation, processing, agriculture, fishing and mining.

How can export credit guarantees help German companies gain a foothold in these markets?

Despite the aforementioned potential, there are also challenges - such as political uncertainties, frequent changes of government and ideologically shifting political orientations.

This is precisely where export credit guarantees come in: They protect exporters against payment defaults due to political or economic risks. At the same time, they often offer more attractive conditions than local financing, for example due to longer payment terms. This is a clear advantage for business partners on both sides - and is often the decisive factor for a deal to be concluded in the first place.

Are there programs or partner institutions that support companies entering the market?

Yes - for example Germany Trade & Invest (GTAI) and the Chambers of Commerce Abroad (AHKs)which are represented in the region with a high level of local expertise. GTAI provides up-to-date information on markets, trends and economic conditions. The AHKs help, among other things, in the search for business partners or by organizing company trips.

In addition, the Latin America Association (LAV) Offers companies a platform for exchange and networking.

For small and medium-sized companies in particular, the Market development program of the Federal Ministry of Economics and Climate Protection (BMWK) offers a good opportunity to get to know markets and find reliable business partners.

I work closely with these partners and regularly take part in corresponding initiatives.

What role does sustainability play in the region? Are there any specific ESG initiatives?

It is difficult to give a general answer here, as the topic is dealt with differently in each country.

In Colombia, for example, President Gustavo Petro is strongly committed to the energy transition - for example through a national roadmap for the expansion of wind energy. In Peru, on the other hand, political influence on economic developments remains low, the market operates largely freely - and the issue of sustainability has so far played a subordinate role here. In Ecuador, on the other hand, political commitment depends heavily on the outcome of the elections on April 14, 2025.

What all three countries have in common, however, is that they have an exceptionally high level of biodiversity, are already directly affected by climate change and are dependent on functioning ecosystems in many areas.

What advice would you give to German companies looking to enter the markets of Peru, Ecuador or Colombia?

Patience and relationship building are the be-all and end-all. Building trust takes time - a personal presence is crucial. Those who are regularly on site and show genuine interest gain a clear advantage. Personal encounters, for example at trade fairs or events, are often much more effective than formal emails.

And: language plays a key role - without knowledge of Spanish, it will be difficult.