Expansion of FTA between Guatemala and Colombia

Both countries agreed to include threads, fabrics and clothing in the batch of items that are already subject to tax relief, as part of the Free Trade Agreement in force.

Tuesday, November 6, 2018

The Ministry of Economy of Guatemala informed that the trade between both countries will experience a significant increase because of the recent signature of several agreements that expand the productive value chains.

The products of the textile and clothing sector, which includes threads, fabrics and clothing, were included within the Free Trade Agreement between Guatemala and Colombia, thereby expanding the world of articles in relief to achieve free trade of both nations. The above refers to chapters 50 to 63 of the current Agreement on market access, which covers about 317 tariff sections for Guatemala and 318 for Colombia, the document details.

The decision was recently signed at the bilateral level by the Vice-Minister of Integration and Foreign Trade, Julio Dougherty, and the Vice-Minister of Foreign Trade of Colombia, Laura Valdivieso, during a working meeting in the Colombian capital within the framework of the Administrative Commission of the Agreement. Including the textile and clothing sector, the Vice-Ministers signed an additional decision to have the respective rules of origin for the products mentioned. In other words, together with the negotiation of product access, the rule of origin was also negotiated.

The statement reviews that a third point on the agenda was the signing of the Modifying Protocol for the establishment of the Committee for Bilateral Integration of Inputs (CIBI) that allows, in case of shortage of raw materials in the territory of any of the parties, the same may be brought from any other origin and incorporated into the national product. Additionally, the trade authorities of Guatemala and Colombia signed another decision related to natural rubber, through which the mentioned input is left with zero tariff in both ways, in other words in free trade.

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