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

Apparel/Garments | On 28th Jul 2017

Aditya Birla Fashion Q1 revenue up 25% y-o-y

Driven by strong performance across all business segments, revenue...

Fashion | On 28th Jul 2017

Kering’s first half consolidated revenue up 28.2%

Kering has announced a consolidated revenue of €7,296.2 million for...

Courtesy: Business wire

Textiles | On 28th Jul 2017

Taiwan launches new products at Outdoor Retailer show

The Taiwan External Trade Development Council (TAITRA) hosted the...

Interviews View All

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Kai Poehler
Voith Paper GmbH & Co. KG

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
61.1%
No
22.2%
Skip
16.7%

Total Votes: 18

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
33.3%
No
44.4%
Skip
22.2%

Total Votes: 18

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.3%
No
5.6%
Skip
11.1%

Total Votes: 18

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
50.0%
No
11.1%
Skip
38.9%

Total Votes: 18


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X