Trade Agreements More profitable Than Free Zones

Tyre manufacturer Bridgestone has withdrawn from the free zone regime in order to export, with better benefits, under trade agreements with the countries of the Pacific Alliance.

Thursday, March 20, 2014

The firm has dissolved Bridgestone de Centroamérica S.A, a company registered in the free zone regime, in order to centralize operations in the local company Bridgestone de Costa Rica, so that it can export under the conditions of the trade agreements.

Jorge Castro, Financial Director of Bridgestone de Costa Rica told that "the decision is a business strategy which has been in place since 2008, in order to focus on the markets which are the responsibility of the firm: Central America, the Caribbean, Colombia and Ecuador . "

"... The company will use trade agreements such as the Pacific Alliance (composed of Peru, Chile, Mexico and Colombia), which give tariff preferences on the entry of tires into Colombia," Castro said.

"... The firm has enjoyed the benefits of the scheme since 2012. Some of the incentives granted under this scheme are exemption from payment of income tax, as well as from the payment of taxes for importing raw materials, excise taxes on goods and services and remittances abroad. "

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