Following the signing of the Peace Agreement with the FARC insurgency group in 2016 and Colombia’s improving security environment over the last two decades, the country is enjoying a period of improved stability and economic prosperity relative to the height of the conflict with the FARC in the 1980’s and 90’s. This post-conflict era is stimulating development in several key sectors, including infrastructure, tourism, job training, education, rural development, and significant investments in security to maintain peace.
Colombia officially became a full member of the Organization for Economic Cooperation and Development (OECD) in April 2020. In its membership commitments, Colombia agreed to focus on reducing informality in the l
Following the signing of the Peace Agreement with the FARC insurgency group in 2016 and Colombia’s improving security environment over the last two decades, the country is enjoying a period of improved stability and economic prosperity relative to the height of the conflict with the FARC in the 1980’s and 90’s. This post-conflict era is stimulating development in several key sectors, including infrastructure, tourism, job training, education, rural development, and significant investments in security to maintain peace.
Colombia officially became a full member of the Organization for Economic Cooperation and Development (OECD) in April 2020. In its membership commitments, Colombia agreed to focus on reducing informality in the labor market and enhancing worker rights through working-hour caps and stronger protections for union activists. Colombia is also a member of the World Trade Organization (WTO). The Colombian Government generally notifies all draft technical regulations to the WTO Committee on Technical Barriers to Trade. In August 2020, Colombia fully joined the WTO Trade Facilitation Agreement (TFA). Regionally, Colombia is a member of organizations such as the Inter-American Development Bank (IADB), the Pacific Alliance, and the Andean Community of Nations (CAN).
Colombia’s extensive ongoing infrastructure projects will generate demand for project financing, design, logistics, as well as equipment for construction of public roads and airports, water treatment, water supply, electric power generation, pollution control technologies, port security, railway construction, transportation, security and defense items and services, and mass transit systems. New Infrastructure initiatives will bolster demand for these services in addition to creating demand for services related to river dredging, airport master plans, urban planning, and other construction and design services.
On August 3, 2020, the Colombian Government published Decree 1090 of 2020, implementing the de minimis threshold for customs duties on shipments valued at USD 200 or less. Previously, Colombia applied the USD 200 de minimis only with respect to taxes, not customs duties. The decree resolved a longstanding open issue under the U.S.-Colombia Trade Promotion Agreement and took effect on August 18, 2020. Shipments that reach Colombia through the official mail network and express delivery services, whose FOB value is equal to or less than 200 U.S. dollars, not including delivery costs, will not be subject to the payment of customs duties. In September 2021, a new law was passed limiting the application of de minimis to shipments that embark from the United States and that are not intended for commercial end-use, defined as over six items in the same class.
abor market and enhancing worker rights through working-hour caps and stronger protections for union activists. Colombia is also a member of the World Trade Organization (WTO). The Colombian Government generally notifies all draft technical regulations to the WTO Committee on Technical Barriers to Trade. In August 2020, Colombia fully joined the WTO Trade Facilitation Agreement (TFA). Regionally, Colombia is a member of organizations such as the Inter-American Development Bank (IADB), the Pacific Alliance, and the Andean Community of Nations (CAN).
Colombia’s extensive ongoing infrastructure projects will generate demand for project financing, design, logistics, as well as equipment for construction of public roads and airports, water treatment, water supply, electric power generation, pollution control technologies, port security, railway construction, transportation, security and defense items and services, and mass transit systems. New Infrastructure initiatives will bolster demand for these services in addition to creating demand for services related to river dredging, airport master plans, urban planning, and other construction and design services.
On August 3, 2020, the Colombian Government published Decree 1090 of 2020, implementing the de minimis threshold for customs duties on shipments valued at USD 200 or less. Previously, Colombia applied the USD 200 de minimis only with respect to taxes, not customs duties. The decree resolved a longstanding open issue under the U.S.-Colombia Trade Promotion Agreement and took effect on August 18, 2020. Shipments that reach Colombia through the official mail network and express delivery services, whose FOB value is equal to or less than 200 U.S. dollars, not including delivery costs, will not be subject to the payment of customs duties. In September 2021, a new law was passed limiting the application of de minimis to shipments that embark from the United States and that are not intended for commercial end-use, defined as over six items in the same class.