Home / Knowledge / News / Textiles / FTA with EU to boost Colombian textile sector
FTA with EU to boost Colombian textile sector
25
Dec '12
Colombian textile sector is expected to get a boost once the EU-Colombia free trade agreement (FTA) comes into force.
 
Earlier this month, the European Parliament gave green signal for FTAs with Colombia, Peru and six Central American countries. The trade agreements need to be ratified by all 27 EU member states before they can fully come into force.
 
The FTAs will result in reduction of import tariffs and removal of technical barriers to trade on both sides.
 
The EU-Colombia FTA is likely to boost Colombia’s GDP by 1.3 percent and the Colombian textile and apparel sector, is expected to benefit the most, according to Colombian Government.
 
Once the FTA is set in motion, the duty on Colombian textile and garment exports to the EU would be either cut or reduced to zero from the current up to 10 percent duty.
 
In terms of Rules of Origin (RoO), the FTA would allow Colombia to take advantage of tariff preferences in a better way. The import of fibres from third countries for making textiles would be allowed, but yarn must be made in either Colombia or the EU.
 
Similarly, for ‘knit to shape’ items like stockings, girdles and innerwear, Colombia can use both nylon and elastomer imported from third countries for making products meant for export to the EU under FTA provisions. 
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 30th Sep 2016

China aims 6-7% annual output growth in textile industry

The Chinese government has set a target to achieve average annual...

Apparel/Garments | On 30th Sep 2016

Cambodian workers to get $153 minimum wage from Jan

Garment workers in Cambodia would get a minimum wage of $153 per...

Textiles | On 30th Sep 2016

South Indian mills seek cotton storage facility in Colombo

South Indian textile mills, primarily those in Tamil Nadu are looking ...

Interviews View All

Binoy Ravjani
Hero's Fashion

Neel Sawhney
One Friday

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
September 2016

September 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search