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 28th Mar 2017

India may impose duty on elastomeric filament yarn

The Government of India is likely to impose anti-dumping duty on...

Courtesy: Lee Cooper

Apparel/Garments | On 28th Mar 2017

CCI clears FLFL proposal to divest Lee Cooper

The Competition Commission (CCI) of India has approved the proposal...

Textiles | On 28th Mar 2017

Bardoli CEFC to benefit south Gujarat MSMEs

India’s first common engineering facility centre (CEFC) at Bardoli,...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Mike Hoffman
Gildan Activewear SRL

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search