Milk powder and oat groats and meal were also significant exports. Canada's largest agricultural import from Colombia was coffee. Competition As a result of the recession both Colombia's exports and imports decreased in 1999 over 1998 resulting in the second consecutive year of decreases. Colombia has traditionally maintained a negative trade balance. Colombia's largest imports are industrial equipment, transportation equipment, construction goods, chemicals and paper products.
Japan is also an important source of imports.
The United States is the principal foreign supplier of consumer-oriented food products to Colombia. While Chile is the largest supplier of fresh fruits and vegetables. Investment Colombia has a very open investment climate. In many instances no government approval is required and foreign owners are given the same rights as nationals. There are a number of investment incentive programs in place which include lowered tariffs and tax breaks.