FTA Colombia - Switzerland: a reality

The Ministry of Commerce, Industry and Tourism of Colombia has announced, through press communication number 106 of May 19 of 2011, the entry into force of the Free Trade Agreement between Colombia and Switzerland on July 1 of 2011.

The official announcement will be made in the seminar “TLC Colombia-Suiza, nuevas oportunidades en perspectiva”, which was organized to commemorate the 100 years of official presence of Switzerland in Colombia. In addition, Proexport will be presenting the great commercial opportunities for the productive sectors of both countries as a consequence of the FTA.

The agreement will entail the reduction or even the elimination of import duties. Specifically, the FTA eliminates import duties for 85% of Swiss products that are commercialized in Colombia, providing great competitive advantage for the exportation of Swiss products such as chemicals, pharmaceuticals and technological devices. In the field of trade in services, a great opportunity is created for the insurance sector. On the other hand, Switzerland has eliminated import duties for Colombian products such as orange, pineapple, papaya among other agricultural products, and has established a preferential duty for flowers and tobacco. 

In conjunction with the FTA, a Complementary Agreement on Agriculture was signed with Switzerland, which in turn also applies to Liechtenstein, given that this country forms a Customs Union with Switzerland. The main purpose of the Complementary Agreement is to establish basic rules for the trade of agricultural goods classified in chapters 1 to 24 of the harmonized system.

The FTA between Switzerland and Colombia constitutes a great tool for the strengthening and facilitation of the commercial relationships between both countries,    and entails a significant step forward in the process of economic integration of Colombia.

The Customs and International Trade team of Brigard & Urrutia is in full capacity to provide advice on how to maximize the benefits arising from this FTA and other commercial tools available.

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