SUBJECT : MANAGERIAL ECONOMICS -II

TOPIC : COLOMBIA
SUBMITTED TO : MANOJ SIR
DATE : 6 SEPTEMBER, 2013



2013-14
2013-14


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GROUP MEMBERS

NAME ROLL NO

CHANDANI .R. SATWARA

73

SIDDESH. M. NAYAK

80

CHERYLL VARGHESE

83

FARHIN ANSARI

87

DEVEN.B . MOHITE

93

YASH. A. RANA

103

FAIZAN. S. CHOUDHARY

113

PRASHANT. B. GIRME

124

TASKEEN MULLA

131

SANKET. M. SAWANT

134



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ACKNOWLEDGEMENT



We are indeed very happy to present our project
to you and we are thankful to our family, friends
who helped us in our project.


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INTRODUCTION TO COLOMBIA




Colombia is a country in northwestern South America that borders
the Pacific Ocean and the Caribbean Sea. Neighboring countries
include Brazil, Ecuador, Panama, Peru, and Venezuela. The
geography of Colombia is diverse with flat lowlands and high Andes
Mountains. The government system is a republic in which the
executive branch dominates government structure. The chief of state
and head of government is the President. Colombia has a pro-market
economic system in which the prices of goods and services are
determined in a free price system. Colombia is a member of the
Andean Community (CAN) and the Latin American Integration
Association (LAIA).


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POPULATION SIZE


In Latin America, Colombia ranks fourth in overall population and
tenth in population density. Its population was estimated at 39.68
million in July of 2000, up from 25.4 million in 1975. In 2000 the birth
rate stood at 22.85 per 1,000 while the death rate was 5.73 per
1,000. With a projected annual growth rate of 1.6 percent between
2000 and 2015, the population is expected to reach 53.2 million by
the year 2015.
At the end of World War II, Colombia's population growth
accelerated dramatically, peaking at about 3.2 percent per year by
the 1960s. In 1951 Colombia's population was 11.5 million, and by
1973 it had doubled to 22.9 million. Beginning in the late 1960s the
annual population growth rate dropped dramatically, such that
between 1973 and 1985 it stood at only 2 percent. This drop was
partly the result of a control policy initiated during the Lleras
Restrepo administration (1966-70). Colombia was one of the few
Latin American countries to adopt family planning as an official policy
and to integrate it into development plans.

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GDP PER CAPITA


The Gross Domestic Product per capita in Colombia was last
recorded at 3362.47 US dollars in 2011. The GDP per Capita in
Colombia is equivalent to 27 percent of the world's average. GDP per
capita in Colombia is reported by the World Bank. Historically, from
1960 until 2011, Colombia GDP per capita averaged 2056.7 USD
reaching an all time high of 3362.5 USD in December of 2011 and a
record low of 1129.6 USD in December of 1960.








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Sectors Contribution Towards GDP


GDP - composition by sector:
Agriculture : 9.1%
Industry : 38.2%
Services : 52.8% (2012 est.)
Definition: This entry gives the percentage contribution of
agriculture, industry, and services to total GDP. The distribution will
total less than 100 percent if the data are incomplete.
Source: CIA World Facebook - Unless otherwise noted, information in
this page is accurate as of February 21, 2013
GDP (purchasing power parity)
GDP - real growth rate
GDP - per capita (PPP)
GDP (official exchange rate)


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Political System


The very political system of any country forms the backbone of the
nation and in the due course plays a guiding force in determining the
growth and development of the country in every aspect. The political
system of Colombia has grown from strength to strength and has
played a decisive role in true sense of the term.
Constitution of Colombia---
The judicial system of Colombia is divided into categories such as a
Constitutional Court, Supreme Court of Justice, the Higher Judiciary
Council of State and municipal courts. However, the Supreme Court
which is situated in Bogot is actually a bench comprising of 24
magistrates who continue to be a part of this office till their death.
The Supreme Court undertakes various responsibilities such as
reviewing the state laws, bills and suggests reforms in case of any. It
also acts as an advisory panel to the government in hours of need.
Other parts of the constitution include - original jurisdiction and
appellate jurisdiction. In the last part of the 20th century, the
constitution has made certain changes, keeping in mind the changing

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necessity of the society.

Functioning of the Colombian Government----
The government of Colombia follows the democratic republic
framework headed by the president, whereby he is both head of
state and head of government, accompanied by galaxy of political
parties. Executive power of the country is wrested in the hands of
the government. The Senate of Colombia and the House of
Representatives of Colombia looks into the functioning of the
legislative organ and takes due part in its functioning. Major political
parties of Colombia include-- Colombian Liberal Party, Social National
Unity Party, Colombian Conservative Party, United People's
Movement etc.
In The Present times---
When Virgilio Barco Vargas took over the charge over the
administration of Colombia in 1990 against the background of great
crises, however in mid 90's military activity created a horrific spell
with the lives of people being killed every now and then in small
wars. On August 7, 1998, Andrs Pastrana Arang became the
President and initiated a series of reform measures to bring about a
rapid phase of economic development. In May 2002, lvaro Uribe
Vlez, belonging to Liberal party attained the position of President
and launched wide attempts to remove political instability and
economic crisis. This has helped Colombia to become one of the
fastest growing economies of South America.



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Unemployment Rate




Unemployment Rate in Colombia decreased to 9.40 percent in May
of 2013 from 10.17 percent in April of 2013. Historically, from 2001
until 2013, Colombia Unemployment Rate averaged 12.4 Percent
reaching an all time high of 17.9 Percent in January of 2002 and a
record low of 8.9 Percent in October of 2012. In Colombia, the
unemployment rate measures the number of people actively looking
for a job as a percentage of the labour force.



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Colombia Inflation Rate


The inflation rate in Colombia was recorded at 2 percent in May of
2013. Historically, from 1955 until 2013, Colombia Inflation Rate
averaged 15.2 Percent reaching an all time high of 41.7 Percent in
June of 1977 and a record low of -0.9 Percent in July of 1955. In
Colombia, the three main components of the consumer price index
are: Housing (30.1 percent of the total weight); Food (28.1 percent)
and Transports (15.2 percent). Other Expenses account for 6.4

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percent; Education for 5.7 percent and Clothing for 5.2 percent.
Others include: Communications (3.7 percent); Leisure (3.1 percent)
and Health Care (2.4 percent). The national index has a base of 100
as of 2008. The CPI covers the urban population of 24 capital city
departments, including some metropolitan areas, which account for
the largest population registered in the country and have the most
dynamic economic environment in comparison to the remaining
cities of the country. This page includes a chart with historical data
for Colombia Inflation Rate.
Columbia, whose thriving economy has always been based on the
education, health care, and insurance industries, is known as a
recession-resistant community. Columbia has 13 banks and saving
and loans with assets totaling more than $1.6 billion. The city is
consistently named as a top place in the nation to live, retire, and do
business, in publications such as Money, Entrepreneur, Kiplinger's
Personal Finance and Expansion Management. Forbes listed
Columbia as a "Best Small Place to do Business" in May 2004. The
city is home to Shelter Insurance Company, MFA Incorporated, and is
a regional center for State Farm Insurance.
Columbia's manufacturers make and sell a wide variety of products.
3M is a major employer, producing projection lenses, optical
equipment, electronic products, and interconnect systems. MBS is a
textbook distribution center. There are three different factories
making various automotive parts. Columbia Foods, a division of
Oscar Mayer, employs about 700 workers at its food processing
plant. Watlow-Columbia, Inc. manufactures electrical heating
elements; the Square D Corporation makes circuit breakers; and
Hubbell/Chance produces electric utility equipment.
Items and goods produced: all manner of electronic parts and

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equipment, air filters, optic lenses, plastic pipe, custom foam rubber
products, automobile parts, coal, stone quarry products, corn,
wheat, and oats
Incentive ProgramsNew and Existing Companies
Local programs
The Columbia and Boone County area's main economic development
contact is the Regional Economic Development, Inc. (REDI). REDI is a
public/private entity created to promote economic expansion while
maintaining a great quality of life. REDI provides services, financing,
tax credits and exemptions, job training, and other local perks for
businesses such as no local income tax, moderate property taxes and
low sales tax that barely effect business, and Community
Development Block Grants available outside the city limits for public
infrastructure. Financing takes the form of Industrial Revenue Bonds
for qualifying projects, and other low interest loans and incentive
financing for large development projects. Tax exemptions include no
sales taxes on manufacturing equipment nor on materials used to
install such equipment, no sales taxes on air or water pollution
control devices, and finally a property tax exemption on business and
industrial inventories. The State of Missouri reimburses employers
for both onsite and classroom job training, designs programs tailor
made to specific tasks, and in turn will help screen and test potential
new hires.
State programs
The Missouri Small Business Development Center has a branch in
Columbia which offers technical and management assistance for
small businesses in service, retail, construction, and manufacturing.
Other incentive programs are available at the state level. The

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Missouri Business Expansion and Attraction Group (BEA) is
responsible for working with businesses and communities in Missouri
to assist in the retention and expansion of existing businesses and
the attraction of new businesses. Incentives include business
financing and tax credits. Twenty-four programs or services are
offered by the Missouri Department of Economic Development,
including the Welfare-to-Work Grant program and the Welfare-to-
Work Tax Credit program, which encourages employers to hire
certain groups, such as ex-felons, who have a harder time finding
jobs. There are programs for youths and adults, for workers affected
by downsizing or other types of displacement such as that caused by
NAFTA, for women, for seasonal or migrant farm workers, veterans'
services, and apprenticeship information.

Job Training
The Missouri Department of Economic Development's Division of
Workforce Development offers training or retraining of employees,
in a classroom setting, in cooperation with the public schools
systems. To be eligible for funding, employers must increase
employment above the previous year's level, and must retrain
existing employees due to substantial capital investment in the state.
Fourteen of the Division of Workforce Development's 24 services
offered involve job training or retraining, targeted at various groups.
Development Projects
Growing somewhat naturally out of Columbia's strength in the
education and health care industries is the biological sciences
research business. There are three organizations in the area that
promote expansion into this growing field: the Life Sciences Business

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Coalition, Mid-MO BIO, and Scientific Partnership and Resource
Connection, or SPARC. SPARC works with Regional Economic
Development, Inc. (REDI) and University of Missouri's College of
Agriculture, Food, and Natural Resources to procure funding for
research and the building of facilities necessary to research. So far
this has resulted in a new $60 million Life Sciences Center which
opened in 2004 on the University of Missouri-Columbia's campus,
and a proposed $175 million Human Health Research Center.
REDI was also involved in the $5.5 million project to purchase and
renovate Boone County Fairgrounds, completed in 2003, and is now
working with the Columbia Chamber of Commerce and the Columbia
Convention and Visitors Bureau (CVB) on annexing an 80 acre field
adjacent to the 134 acre Fairgrounds, and adding an ice skating rink,
several playing fields, a dog park, community gardens, and walking
trails. The Flat Branch Park beautification project was completed in
2004, with funds contributed by corporate sponsors of REDI, as well
as the Chamber of Commerce and CVB, which own the adjacent
Walton Building of which REDI is a tenant. Downtown renovation
projects have been ongoing for over a decade, and central Columbia
today sports widened streets, benches and trees, new street lights
and decorative trash can lids, all with an eye to both retail and
residential use. The latest is the Eighth Street Beautification Project.
In 2002 REDI unveiled its "Incentives White Paper," which proposed
more ways to expand established businesses and bring in new ones.
It focused on using Chapter 100 bonds but had other ideas such as a
"microloan" program to help businesses which didn't fit the criteria
for the many other incentive programs offered by REDI. Two other
projects are focused on improving traffic flow. One is a new
interchange at Highway 63 and Gans Road, which will improve the
infrastructure and perhaps pave the way for future development

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near the intersection, besides allaying traffic woes. The second is a
$1.3 million railroad terminal and warehouse made possible through
cooperation between REDI and Columbia Terminal Railroad
(nicknamed COLT). The terminal itself is expected to cut down traffic
on I-70 by giving businesses the option to ship by rail, and the
warehouse allows companies that don't have locations near the
terminal to nevertheless use the rail option.

Economic Development Information: Regional Economic
Development, Inc., 300 South Providence Road, Columbia, MO
65203; telephone (573)442-8303; fax (573)443-3986. Missouri
Department of Economic Development, 301 West High Street, PO
box 118, Jefferson City, MO 65101, telephone (573)751-4962, fax
(573)526-7700

Commercial Shipping
Boone County has 20 Interstate motor freight lines serving it, with 14
terminals in Columbia. Railroads serving the area are COLT (Columbia
Terminal), Amtrak, Norfolk Southern, and Gateway Western. Seven
air freight carriers serve the area, and Trans World Express offers
nine flights daily to St. Louis.
Labor Force and Employment Outlook
Boone County's main area of job growth is in the service industry,
although most of these jobs are lower-paying. One recent study
found that approximately 33,000 of the area's more than 240,000
civilian labor force was underemployed, meaning they possessed
skills, training, or degrees beyond what their jobs required.

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MAJOR INDUSTRY


MINING.
One significant part of the transformation of the Colombian
economy from the 1970s has been the expansion of the mining
sector, mostly comprised of oil production and coal, though it also
includes gold and valuable gems such as emeralds. Oil production in
Colombia has been declining as of late, with 700,600 barrels a day
(bbl/d) in 2000, down 125,000 bbl/d from the previous year. The
country's reserves are estimated at about 2.6 billion barrels, but the
potential reserves are much higher. Colombia's main oil export
market is the United States, with 332,000 bbl/d in 2000. Production
is located mainly in the Cusiana and Cupiagua fields in the Andes
foothills and in the Cano Limn field near the Venezuelan border.
British Petroleum has major operations at Cusiana and Cupiagua,
while the Cano Limn field is operated by U.S.-based Occidental. All
foreign investment in petroleum exploration and development in
Colombia must be carried out under a profit-sharing association
contract between the investor and the state petroleum company,
Ecopetrol. In the face of U.S. oil companies' interest in increasing
exploration and production if contract and tax requirements are
smoothed, the Pastrana administration has responded by liberalizing
contracting terms.
Colombia produces more than 90 percent of the world's emeralds; it
is the second-largest South American producer of gold and the most
important coal producer in Latin America. Coal reserves have been
estimated between 12 billion and 60 billion tons, approximately 40
percent of all Latin American reserves. Important levels of
production began in 1984, attaining 4,000 metric tons, which jumped
to close to 13,000 metric tons by 1993 and 28,500 metric tons in
1997. Excluding oil production, there was a relative decline in mining
from 1992 to 1996, accompanied by a decline in the number of
persons employed.

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MANUFACTURING.
The economic landscape of Colombia has changed dramatically in
the last 40 years, and one clear example is the changes in the
manufacturing industry by the late twentieth century. Industrial
manufacturing is quite varied. According to DANE, by the year 2000
the most important products included basic chemicals (5.3 billion
pesos), beverages (3.5 billion pesos), milling and cereal processing (3
billion pesos), oil refining (2.9 billion pesos), and pulp, paper and
derived products (2.1 billion pesos). Though an important proportion
of production is for the domestic market, the relative level of
sophistication in some of these products can be measured by the
extent to which they are exported. In 2000 manufactured products
accounted for nearly 40 percent of all exports, with chemicals and
textiles ranking near the top.
Manufacturing is located mostly in the provinces of Antioquia, Cauca,
in the capital district, and to a lesser extent in Barranquilla, on the
Atlantic coast. The number of people employed by this sector is
588,681ap-proximately 20 percent of the economically active
population.
The lowering of many trade barriers in the 1990s served to
streamline Colombian industry, and most sectors have managed to
remain competitive with other Latin American competitors, leading
to an increase in exports to those countries.
The construction industry, one of the largest employment sectors in
Colombia, has been very dynamic over the last 2 decades, totaling
c2001, however, it was hit hard by the recession and tight credit
conditions.

SERVICES
FINANCIAL SERVICES.
Colombia has an extensive banking sector. According to DANE, it
accounted in 1995 for close to 16 percent of GDP, clearly the most
important service activity. It is headed by the Bank of the Republic,

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which functions as the central bank. There are approximately 1,700
companies devoted to financial services, of which 37 are established
banks, 30 are investment companies, nearly 70 stock and bond
brokers, and a small number of leasing and real estate leasing. There
are 17 long-term and development financial institutions, including
the government-owned Industrial Development Institute. The
government has played an important role in the financial sector since
the 1970s because of the unwillingness of banks to make long-term
loan commitments to riskier projects such as coal development, and
because of the necessity for periodic public intervention to stabilize
financial markets.
The 6 largest of these corporations hold 86 percent of all assets in
this sector. In the mid-1980s there was a crunch in the banking
system that forced the government to nationalize a number of
troubled domestic banks. It also created the Financial Institutions
Guarantee Fund (Fondo de Garantias de Instituciones Financieras) as
the authority to intervene or recapitalize those financial institutions
in great need of support. By the end of the 1980s the government set
out plans for privatization, the second phase of which took place by
the end of the 1990s.




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Currency


The peso is the currency of Colombia. Its ISO 4217 code is COP and it
is also informally abbreviated as COL$. However, the official peso
symbol is $.
Foreign Exchange Reserve
Foreign Exchange Reserves in Colombia increased to 40509.26 USD
Million in May of 2013 from 40089.66 USD Million in April of 2013.
Foreign Exchange Reserves in Colombia is reported by the Banco De
La Republica, Colombia. Historically, from 1960 until 2013, Colombia
Foreign Exchange Reserves averaged 7080.7 USD Million reaching an
all time high of 40509.3 USD Million in May of 2013 and a record low
of -134.9 USD Million in February of 1963. In Colombia, Foreign
Exchange Reserves are the foreign assets held or controlled by the
country central bank. The reserves are made of gold or a specific
currency. They can also be special drawing rights and marketable
securities denominated in foreign currencies like treasury bills,
government bonds, corporate bonds and equities and foreign
currency loans.



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Major Imports & Exports



Colombia conducts billions of dollars worth of trade annually.
Colombia is a relatively large country located in the northwestern
corner of South America bordered by Panama, Venezuela, Brazil,
Ecuador and Peru. Although it may be best known for exporting two
stimulants -- legal coffee and illegal drugs -- Colombia actually has a
broad economy and exports and imports a number of items.
Other People Are Reading
Colombia Trade Agreement Risks of Doing Business in Colombia
Energy
One of Colombia's strongest sectors is its energy sector. It produces
more oil, gas and electricity than it needs and exports all three. In the
case of electricity, the nation produced 50.58 billion kilowatt hours,
of which 876.7 million were exported in 2007. In 2009, Colombia
produced 686,600 barrels of oil per day and only consumed 288,000
of them, leaving the rest free for export. In 2008, the nation also
produced 9 billion cubic meters of natural gas, 10 percent of which
was exported. However, Colombia also imports refined fuels,

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indicating a potential lack of refining capacity.
Imports
Although Colombia is a major producer of agricultural and naturally
occurring goods, their industrial sector is comparatively weaker. As
such, Colombia imports a number of products that are produced
elsewhere. Although the nation has oil and chemical industries, it
nevertheless imports both fuels and chemicals. Colombia also
imports heavy equipment and consumer goods.
Exports
Most of Colombia's exports are either farmed or extracted. Coffee
may be its most famous export, but it is just one of the country's
agricultural exports, joined by bananas and cut flowers. In addition
to oil and coal, Colombia is also one of the world's largest emerald
producers and exporters. Colombia also exports apparel items that
are sewn in its garment factories.
Colombia's Trading Partners
The United States is Colombia's largest trading partner, absorbing
32.5 percent of its exports and providing 30.6 percent of its imports.
Colombia also exports to Venezuela and the Netherlands, which
represent 17.2 and 4.2 percent of its exports, respectively. Colombia
imports from a number of countries other than the United States,
including China, Mexico, Brazil, France and Germany, each of which
make up between 4 and 10 percent of its total import volume. In
2009, Colombia exported slightly more than it imported, based on
Central Intelligence Agency estimates of $34 billion in exports and
$31.5 billion in import export.


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Banking & Financial System

Columbia Banking System, Inc. operates as the bank holding
company for Columbia State Bank, which provides a range of banking
products and services to small and medium-sized businesses,
professionals, and individuals. Its products and services include
checking and saving accounts, money market and certificate of
deposit accounts, online banking, electronic bill pay, consumer and
residential lending, and VISA card services. The company also offers
remote deposit capture, cash management, commercial and
industrial lending, agricultural lending, small business administration
lending, international banking, merchant card, and real estate and
real estate construction lending services, as well as small business
services. In addition, it provides professional banking, private
banking, trust, and investment services; and financial solutions, such
as financial planning, investment management, insurance, and
retirement solutions. As of April 4, 2013, Columbia Banking System,
Inc. had 157 banking offices, including 86 branches in Washington
State and 71 branches in Oregon. The company was founded in 1988
and is headquartered in Tacoma.


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Best Brand


At 10 years of age, its future is more than promising. Procafecol,
the Colombian coffee growers company that manages the Juan
Valdez Caf brand and retail chain, reached more than 225 coffee
shops opened and expects to close the year with at least 251, all in
line with an ambitious expansion plan in Colombia and abroad.
There are currently 166 Juan Valdez coffee shops in Bogota and 18
cities of Colombia, and other 61 coffee shops spread over Aruba,
Chile, Ecuador, Spain, the USA, Mexico, Panama and Peru.
The last decade has been one of building value for the Colombian
coffee growers through one of the emblems of the Federation: a
new brand was created together with a brand royalty scheme
implemented to fund public goods for Colombian coffee growers,
which also worked as a positioning platform for Colombian coffee in
the higher-value segments.
For the Juan Valdez Caf brand and retail chain, the next decade
will be of growth and global expansion.
Abroad, Procafecol plans to open in the coming years new stores in
such countries as the USA, Spain, Mexico, Panama, Peru, Chile,
Ecuador, Venezuela and in the Middle East.
It also plans to open 39 stores in the next five years in South Florida,
USA (a country where it already operates seven stores), to go
through with the opening of six stores in Mexico during 2013 and

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increase from 4 to 10 the stores in Panama. These are some of the
companys short term goals.
Likewise, after the successful opening of two stores in Aruba, the
first ones in the Caribbean, one more is expected to be opened in the
island.
In Ecuador, Juan Valdez Caf now reaches 26 stores, while in Chile
there are 12 in operation, including a flagship store in the El Colorado
ski resort.
Juan Valdez Caf just announced its arrival in Peru, with the
opening of 15 stores in 2013 and the company expects to open 30
stores before the end of 2016.
Another important goal is the foray into the Middle East and North
Africa (MENA), starting with Kuwait and the United Arab Emirates
until reaching 60 stores in five years.
A company growing hand in hand with the countrys coffee growers

The Juan Valdez Caf stores are already present in eight countries
besides Colombia, while the brand is present in supermarkets of 18
countries, making it possible to bring the experience of the
countrys premium coffee to millions of consumers in Colombia and
in the world.
In the Colombian market, Juan Valdez Caf has achieved a 75%
share of the premium coffee market, where institutional channel
sales grew five times between 2010 and 2012.
In financial matters, with a net income of US$ 775,000 in 2012,
Procafecol has become a profitable venture and shows a great
maturity. The trend, resulting from an increasingly efficient
management, accelerated in the first quarter of 2013 with a net
profit of US$458,000, US$950,000 up from the same period a year
earlier.
These results are not only very positive for Procafecol and
its shareholders, but they show growth based on a strategy of
efficiency, increased profitability at each of its business lines and
expansion of the brand.

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In 2012 the operating income increased 15% to US$ 67.6 million,
compared with US$ 53.6 million in 2011.
To date, Procafecol has 18,714 shareholders, who are not other
than coffee growers owning stocks.
Thanks to the commercial and financial performance, between 2006
and 2012 Procafecol paid premiums for quality to Colombian coffee
growers of around $ 2.4 million and has transferred
toproducers about $ 18 million in royalties for the use of the Juan
Valdez Caf brand through the National Coffee Fund.


The origins
Juan Valdez Caf was created in 2002 as a strategy to meet the
challenges of the coffee sector in a global price crisis and to
participate in the value-added distribution and commercialization
stages.
Juan Valdez Caf created the premium coffee category in Colombia
and has been its main promoter. More importantly, the stores are a
showcase for the highest-quality coffee produced in the country both
for Colombian and foreing customers, generating industry demand
for Colombian specialty coffees from all regions.
On December 12, 2002, the first Juan Valdez Caf store was opened
in El Dorado International Airport in Bogot. Since that time, the
expansion of the brand has been successful not only in Colombia, but
in the world.
The creation of Juan Valdez Caf has not only represented the
opening of stores, but the creation of an entire product line. To bring
to the world the best premium Colombian coffee, an own line
of packaged coffee was created, including strong and balanced
coffees with different cupprofiles tailored to the most demanding
international audiences. The Huila and Santander Origins,Sustainable
Coffees, Freeze-Dried Coffee, Premium Line and the JV Pods are an
example.


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The brand has not only high recognition (88% recall), but an
emotional connection with consumers, which is reflected in the fact
that it is the first Colombian brand that overcomes the barrier of 1.5
million followers on the Facebook social network. In other
words, Juan Valdez Caf is one of the most beloved Latin American
brands.











[29]

Conclusion




MMMMHHHFGGGGfcv,v ,ffhhhhfsimm,,










Colombia is beautiful there many things to do fun places,
delicious food, celebrations, culture etc. Colombia is very
beautiful place, come visit it and you will learn many things
while having lots of fun !!!









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