Introduction
On February 23, 2024, The Global Opportunity Committee (GOC) of the Atlanta Black Chambers (ABC) signed an MOU with the Cali Chambers of Commerce.
The Memorandum of Understanding (MOU) outlines the agreement between the Cali Chamber of Commerce, Invest Pacific, and Atlanta Black Chambers Inc.
It aims to coordinate efforts to support the growth and development of businesses led by entrepreneurs from Valle del Cauca, Colombia, particularly those identified as blacks.
The parties involved agree to cooperate in various fields, including trade promotion, investment stimulation, program support, cultural exchange, and language promotion.
Purpose
The MOU aims to support the growth of businesses led by entrepreneurs from Valle del Cauca, Colombia and Atlanta, United States, with special outreach to black entrepreneurs.
It also promotes cooperation in trade promotion, forming alliances, investment stimulation, program support, strengthening analysis, promoting learning, cultural exchange, language promotion, and more.
Key Points
1. Trade Promotion: The parties agree to promote trade exchange between their respective regions by identifying and eliminating trade barriers, expanding market access, improving relations with trade partners, developing infrastructure, and reducing trade costs. This could involve organizing trade missions, participating in trade fairs and exhibitions, and providing support for export/import activities.
2. Promotion of Alliances: The parties aim to stimulate the formation of alliances among businesses through collaborative efforts and by facilitating contacts both nationally and internationally. This may include matchmaking events, business forums, and networking opportunities designed to connect entrepreneurs with potential partners and collaborators.
3. Investment Stimulus: The parties commit to facilitating access to capital for companies and intensifying the promotion of potential investment partners. This could involve providing information on investment opportunities, organizing investment promotion events, and offering support services to attract investors to the region.
4. Program Support: The parties will collaborate on various programs aimed at supporting business growth and development. This includes organizing events such as the Annual Global Opportunities Conference, conducting business matching events, workshops, webinars, and media campaigns, as well as establishing initiatives like the GO Investment Fund to provide financial support to entrepreneurs.
5. Strengthening Analysis: The parties agree to improve data collection, identify opportunities, and develop recommendations based on analysis. This may involve conducting research, gathering market intelligence, and sharing insights to inform strategic decision-making and policy development.
6. Promoting Learning: The parties will establish a Monitoring and Evaluation System to track progress and promote learning. This involves aligning specific objectives, collecting data on key indicators, analyzing trends and patterns, and reporting findings to ensure continuous improvement and accountability.
Next Steps
Members of the Global Opportunity Committee (GOC) are advised to take full advantage of this MOU by:
1. Signify interest in doing business in the Cali region and Columbia. Investment and business opportunities are available in tech, software development, food/beverage, craft, cosmetics, etc.
2. Be part of the language and experience training on how to do business in Cali (a specific date for the training will be announced shortly).
3. Participate in the Virtual B2B to connect businesses from Cali with GOC members. This will take place on June 11, 2024. Watch out for more details.
About Global Opportunity Committee (GOC)
The Global Opportunities Committee’s (GOC) mission is to provide practical and useful information, education, and access to opportunities around the world for our members through global trade, investments, and partnerships.
GOC has an ambitious 10-year plan to reach $100 billion in global transactions for Black businesses, designed to boost global trade, investments, and partnerships for its members.
About Atlanta Black Chambers (ABC)
The Atlanta Black Chambers is a non-profit organization consisting of individuals engaging in Business, Community and Government activities. Our mission is to serve as an advocate for the creation and growth of competitive, profitable and sustainable Black-owned entities. We are committed to providing quality education and training programs that emphasize economic development, ownership and wealth-building practices.
