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BRIEF 2

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International Marketing Brief Two: Profile of Bolivia
Kellie West
Global Marketing MKTG450-H1WW (WI15)
Professor Bruce Trumm
11 April 2015

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Profile of Bolivia

In order to better understand opportunities for U.S. made chemical pumps in Bolivia, it is important to become familiar with the geography, culture, people, and economy of the nation.
With numerous indigenous tribes counted among the population and challenging geographic regions, Bolivia could make a challenging trade partner. Yet the economic outlook and wealth of natural resources make it a country worth considering when exporting and investing.
Geography
According to the CIA World Factbook, the South American country of Bolivia is a landlocked country
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Trade Representative).
The primary industries in Bolivia are mining, smelting, petroleum, food and beverage, tobacco, jewelry, and clothing (Central Intelligence Agency). Each of these industries require fluid transfer of some sort, creating opportunities for pump manufacturers and distributors to penetrate the market in Bolivia. Numerous regional trade events take place each year (U.S.
Department of State, 2014). The country recorded a 5.6% industrial growth rate in 2013 and recorded the highest growth rate in South America during the 2009 recession, indicating a strong ability to weather economic instability in the rest of the world (Emerging Markets Monitor,
2015).
With the reelection of President Evo Morales, it is expected that this political continuity will sustain confidence in investment in the region (Emerging Markets Monitor, January 2015).

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Though growth is expected to slow somewhat, Bolivia is still expected to end the year with reserves of 45% of GDP (Figure 2).

Figure 2. Forecast of Foreign Reserves. Adapted from “Reserves Position Remains Robust”, by
Emerging Markets Monitor, 2015.
Based on a report by the U.S. Department of State, the U.S. is one of Bolivia’s top trading partners (2014); however, there are currently no trade agreements in place specific to the
U.S. trade with Bolivia. This should not be a direct concern for those companies that wish to enter the market, yet should be consideration for the Chamber. Trade

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