Colombian Exporters 'Learning To Survive Strong Peso'

Colombian exporters are "learning to survive" the strong peso by boosting productivity and exploring new markets, the country's trade minister told Bloomberg Wednesday.

Minister Sergio Diaz-Granados said "The plan is to encourage our companies to improve their productivity and the quality of their products, enter new markets." He added that exporters should not expect "artificial protections through the exchange rate which are not sustainable over the long term."

Exporting industries such as the cut-flower sector and the banana sector have been hit by the strong peso which is making their products more expensive to foreign buyers. Both sectors have also lost output as a result of the severe winter rains.

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