When UK businesses consider international expansion or export opportunities, attention often turns to North America, Europe, the Gulf or Asia. Yet one of the most compelling growth opportunities remains comparatively overlooked: Latin America.
Countries including Mexico, Brazil, Chile, Colombia and Peru are investing heavily in digital transformation, infrastructure, sustainability, healthcare and advanced manufacturing. For UK companies offering specialist products, technology and high-value services, these markets present opportunities that are often less crowded with competitors than more established export destinations.
The UK’s recent accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has strengthened the case further. Together with existing UK Free Trade Agreements, it provides improved access to key markets across the region, particularly Mexico, Chile and Peru.
Why Latin America Matters Now
Latin America is home to more than 650 million people; it has a growing middle class with good disposable income and sophisticated industrial sectors. It also has some of the world’s most important natural resources. Across the region, governments and businesses are investing in energy transition, water management, mining modernisation, healthcare technology, digital innovation and supply chain efficiency.
While local industrial expertise is strong, many organisations continue to seek international partners who can deliver specialist knowledge, productivity improvements and sustainable solutions. This is where UK businesses often excel. Success is rarely about competing on cost alone in Latin America; it is about helping customers solve complex operational challenges.
Mexico: A Gateway to the Americas
Having lived in Monterrey, Mexico for three years as the UK’s Northern Mexico senior diplomat, I saw first-hand how rapidly the country has developed into one of the most attractive manufacturing and technology destinations in the Western Hemisphere. The scale of opportunities for our companies in advanced manufacturing and health tech was incredible. The appetite for new solutions that help Mexico upskill its labour force, was immense.
The nearshoring trend continues to drive investment, supported by established North American supply chains and growing demand for advanced manufacturing capabilities. UK businesses are particularly well positioned in industrial automation, engineering, aerospace technologies, cybersecurity and digital transformation services.
Mexico rewards commitment. Building trust often requires multiple visits and strong local relationships. Companies that invest time and commitment in understanding regional opportunities, the cultural nuances and developing partnerships on the ground are far more likely to succeed than those attempting to manage the market remotely.
Chile: a Hidden Gem and a Significant Opportunity
Chile is widely regarded as one of Latin America’s most business-friendly economies and can provide an excellent entry point for UK companies seeking a foothold in the region. Local talent is well versed in European ways of doing business and the sizeable mining sector underpins much of its incredible economy, by comparison to its larger neighbours.
Besides mining, Chile is particularly attractive in sectors such as renewable energy, AI-enabled technology and water management. Ambitious programmes in green hydrogen, solar power and environmental sustainability are creating demand for advanced technologies, engineering expertise and innovative digital solutions.
In my experience of taking UK companies out to secure business partnerships in Chile, Chilean organisations are highly receptive to international collaboration, especially when companies demonstrate a genuine commitment to understanding local challenges and opportunities.
Peru: Growth Beyond Mining
Peru continues to attract significant investment in mining, infrastructure and economic development. Increasingly, operators are seeking technologies that improve sustainability, productivity and safety.
Beyond mining, opportunities are emerging across infrastructure modernisation, logistics, engineering services, education and professional training. For UK firms with expertise in project delivery, consultancy and specialist technologies, Peru offers a growing and accessible market.
Brazil: Latin America’s Powerhouse
Brazil remains the region’s largest economy and one of its most attractive long-term opportunities. However, entering the market can be challenging due to regulatory complexity and tariff structures, but the scale of opportunity is considerable and efforts have been made in recent years to reduce the once formidable barriers. Strong demand exists across areas such as agri-tech, healthcare technology, clean energy, sustainability solutions and financial technology.
Success in Brazil requires patience and relationship-building, but many UK companies have established highly successful operations by focusing on specialist niches where innovation and expertise outweigh price-driven competition.
The CPTPP Advantage
For UK businesses, CPTPP provides an important platform for growth across Latin America. Reduced tariffs, improved rules of origin, enhanced digital trade provisions and stronger access for service providers all help improve competitiveness in international markets.
These advantages are particularly valuable for technology companies, digital service providers, consultants and knowledge-intensive sectors where the UK has significant strengths.
Looking Ahead
Latin America is no longer a peripheral export destination. Economic modernisation, infrastructure investment, resource development and digital transformation are creating substantial opportunities for ambitious UK businesses.
For companies offering specialist products, innovative technologies and high-value services, markets such as Mexico, Chile, Peru and Brazil offer genuine potential for sustainable growth. Combined with CPTPP and existing trade agreements, the region may be far more accessible than many UK exporters realise.
About Sarah Hildersley
Sarah Hildersley spent 25 years with the Foreign, Commonwealth & Development Office, helping UK businesses succeed internationally. She held senior commercial and diplomatic roles across the Middle East and led a 30-person trade team in Monterrey, Mexico, supporting UK companies across aerospace, automotive, advanced manufacturing and energy.
Back in the UK, Sarah led the Extend Your Global Reach programme in Latin America, helping more than 50 UK companies secure business in Brazil, Mexico and Chile. She has since led international programmes for Innovate UK and now helps UK businesses develop successful international growth strategies through International Trade Matters.
Sarah is a Fellow of the Chartered Institute of Export & International Trade.
If you are interested in learning more about the potential for your company to do business in this exciting region, you can contact Sarah on s.hildersley@internationaltradematters.com or by completing the contact form below for a complimentary 30-minute discussion.
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