DALLAS–Market Center Management Co. has signed a multiyear agreement to help develop and manage the LatinAmerican Trade Mart, a new wholesale trade center in Bogota, Colombia.
The 2.5 million-square-foot trade complex is scheduled to open in 2011 as the largest wholesale mart in South America. It will be the first wholesale marketplace on the continent to serve both international and domestic markets, according to a release.
MCMC is the management company of wholesale trade centers around the world, including the Dallas Market Center.
The LatinAmerican Trade Mart will house a permanent showroom mart capable of accommodating more than 500 showrooms; modern exhibition space capable of showcasing approximately 900 temporary booths; a 65,000-square-foot convention center with multifunctional venues and capacity for 3,000; office space and hospitality, business centers and other amenities.
“This agreement further expands our world-wide presence and offers our partners unique and expanding options for global trade,” said Bill Winsor, president and chief executive officer of MCMC. “The timing for entry into the growing South America marketplace could not be better.”
The announcement comes while the two countries are anticipating a pending U.S.-Colombian Free Trade Agreement, which will eliminate tariffs and other barriers to goods and services, promote economic growth, and expand trade between the United States and Colombia.
