decree 2279 – Finance Colombia https://www.financecolombia.com Connecting Colombia to the global capital markets, analysts, economists, investors, and executives that matter Tue, 03 Jan 2023 22:13:24 +0000 en-US hourly 1 https://www.financecolombia.com/wp-content/uploads/2016/01/cropped-Favicon-32x32.png decree 2279 – Finance Colombia https://www.financecolombia.com 32 32 Colombia Extends 35% Footwear Import Tariff https://www.financecolombia.com/colombia-extends-35-footwear-import-tariff/ Tue, 03 Jan 2023 22:13:24 +0000 https://www.financecolombia.com/?p=25575 Colombia’s Ministry of Commerce, Industry & Tourism (MinCIT) yesterday announced that through Decree 2632 of 2022 the government was extending the import duties established by Decree 2279 of 2019. The 35% tariffs will remain in place at least through 2025 unless the decree is rescinded before then.

The measure does not apply to items manufactured in countries with which Colombia has trade agreements in force.

The measure applies to low cost footwear with an FOB cost below $6-10 USD depending upon construction and style. The tariffs also apply to unfinished uppers imported for final assembly in Colombia priced less than $5 USD per kilogram.

Minister of Commerce, Industry and Tourism Germán Umaña Mendoza said that the measure seeks to promote the local shoe and leather industry. “It is a sector that has its great majority, more than 90%, composed of micro, small and medium enterprises. In addition, it is a great generator of jobs for the country, which is why market conditions need to be improved,” he said.

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