Gifts are not usually expected at initial meetings but are appreciated.  If bringing a gift be sure it is a modest one.

Gifts are normally wrapped (the nicer the better) and its fine to open them in public.

If a Colombian gives a present, they might like to hear the other’s first impressions on the gift “selected” for the foreigner, but  if the recipient wants to keep it and open for him/herself later, that’ s fine.

In the case of receiving a wrapped present d from a larger group of people (say the staff under you) and if the environment is informal - they might start saying “Open it, Open it”.  In this case it’s nice if you open it, as not doing so might be rude.