Home / Knowledge / News / Textiles / EU-Colombia Interim Trade Agreement to take effect soon
EU-Colombia Interim Trade Agreement to take effect soon
24
Jul '13
The Interim Trade Agreement between Colombia and the 28-member EU would be implemented from August 1, 2013, according to Colombian Ministry of Commerce, Industry and Tourism.
 
The implementation of the provisional free trade agreement (FTA) with the EU demonstrates the trust that Colombia has won in Europe, Sergio Diaz-Granados, Minister of Commerce, Industry and Tourism, said.
 
The EU is currently the second largest trading partner, export market and source of investment in Colombia, next only to the US.
 
The FTA with the EU is the fourth trade agreement that Colombia has signed with developed countries. Colombia already has a FTA with Canada, Switzerland and the US.
 
The Colombian Government is prepared to give full guarantee to foreign investment entering into the country from the 28 EU member states, Mr. Diaz-Granados said.
 
The textiles and the apparel sector, along with some other sectors like the pharmaceutical and personal care, would benefit from the agreement with the EU, the Minister said.
 
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. 
 
From January to May 2013, Colombia’s overall exports to the EU amounted to US$ 3.345 billion, up 13.8 percent year-on-year, while the country imported US$ 3.279 billion worth of goods from the EU.
 

Fibre2fashion News Desk - India


Must ReadView All

US commerce department finds dumping of low melt PSF

Textiles | On 20th Jun 2018

US commerce department finds dumping of low melt PSF

The US department of commerce (USDC) has announced affirmative final...

Courtesy: Aditya Birla

Textiles | On 20th Jun 2018

'Growth of VSF yarn industry is difficult'

Growth for the viscose filament yarn (VSF) yarn industry is...

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Apparel/Garments | On 20th Jun 2018

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Italian company Eurojersey Spa will present in 2019 new embossing...

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 ...

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Eric Scholler
Groz-Beckert

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search