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DRAFT DECREE OF THE MINISTRY OF TRADE

The Ministry of Trade, Industry and Tourism presented a draft decree in which a customs tariff of 0% is established for raw materials produced outside of Colombia

The “Plan Colombia Rebounds” of the Government, considers the permanent abolishment of the customs tariff for the importation of raw materials and capital goods produced outside of Colombia, in order to stimulate the economy, the creation of new jobs and the country’s competitiveness

 

Throughout the draft decree, the Ministry of Trade, Industry and Tourism wants to partially modify the customs tariff, reducing the tariff for the importation of products classified by the tariff subheadings corresponding to raw materials and capital goods produced outside the country to cero percent (0%).

This tariff will be reviewed annually by the Ministry of Trade, Industry and Tourism.