2023-12-28 16:10:39
The Commission of Furniture, Wood and its Products (Cofama) of the Guatemalan Association of Exporters (Agexport) will begin the year 2024 with a strategic approach that seeks to consolidate its presence in the US market, this with the objective of boosting exports of its products. various segments, which is why it has drawn up detailed plans to specifically and forcefully address the United States market, after a successful mission in Miami during 2023.
Perspective Writing
“The year 2023 marked the beginning of a strategic commitment for COFAMA of AGEXPORT, with a mission in Miami, United States, where we found opportunities in different segments of this key market. From that account, we are building a comprehensive strategy to increase exports to that market,” explained Rosa María Monzón, Coordinator of Cofama.
According to what was reported, next year will be dedicated to addressing this market through specific approaches by niche and segment, as well as the creation of new business models. The goal is for the sector’s total exports to grow by 9% vs. 2023, projecting to close 2024 with foreign sales of US$237 million.
“Statistical monitoring has identified a slowdown in the growth of the sector’s total exports, mainly attributable to the decrease in pallet exports, whose main market is the United States. However, other products, such as doors, windows, floors, furniture and sawn wood, have experienced an average growth of 4%,” Monzón mentioned.
In addition, they highlighted that the United States continues to be the main purchasing market for export products, especially floors, doors, designer furniture and cabinets of the 190 active members that the Commission has.
On the other hand, they mentioned that Central America has been the main buyer of furniture for B2C stores and chains. However, increasing competition from Asia and Brazil has impacted the growth of furniture sales in the region. Cofama will continue to organize local fairs as effective tools to boost sales in the national market. (Credit. Agexport).
In addition, we provide support to associates in the preparation of export and competitiveness diagnoses. This support aims to establish a solid roadmap to facilitate exports,” said Monzón.
A PORTFOLIO FOCUSED ON EXCELLENCE AND SUSTAINABILITY
The Association announced that the Export to USA Strategy and Export Caricom Strategy seek to consolidate and expand international presence. The EXPOMUEBLE fairs and participation in the IWF Atlanta 2024 Pavilion will boost international projection. The Link with Academia and INTECAP and Retired Experts will strengthen capacities, while the Meeting with Suppliers and the Green Pact Table prioritize sustainability and the reduction of emissions.
These projects reflect COFAMA’s commitment to innovation and sustainability, outlining a path of sustainable growth and continuous strengthening for the industry in Guatemala.
“We reaffirm our commitment to the development and promotion of the Furniture, Wood and its Products sector, working hand in hand with partners and strategic entities to reach new horizons in the international arena,” concluded Monzón. Cofama provides support to associates in the preparation of export and competitiveness diagnoses, which aims to establish a solid roadmap to facilitate exports. (Agexport Credit).
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