Coca-Cola FEMSA, the largest bottler of Coca-Cola in Latin America, saw sales in Colombia outpace most of its global markets, reported local media on Friday.
The Mexican-based beverage company told Colombian financial newspaper Portafolio that sales in Colombia increased by 7.8% to 130.4 million cases during the first half of 2013 compared to the same period in 2012 after launching a wave of new products in the market.
“In Colombia we launched Fanta in three different flavors to complement our flavored sparkling beverage portfolio,” said the company in an annual report.
Coca-Cola is one of a handful of multinationals in the consumer goods sector that has expressed interest in expanding into Colombia’s market, where a series of free trade agreements under Alvaro Uribe‘s administration (2002-2010) and President Juan Manuel Santos‘ administration (2010-present) eliminate tariffs on trade and welcome foreign goods.
Earlier this year, Colombia signed a trade agreement with Chile, Peru and Mexico under the Pacific Alliance pact, letting companies like Mexico’s Coca-Cola FEMSA hurdle economic boundaries within the block.
In 2012 Colombia made up 47.1 million (15%) of Coca-cola’s 313.7 million drinkers of the soft drink in Latin America and the Philippines. In Colombia, Coca-Cola faces competition of Postobon, the largest soft-drink producer in the country and distributor or Coca-Cola rival Pepsi.