Colombia abide by the ruling of the World Trade Organization (WTO) ordered to remove the tariffs applied to textiles and footwear from Panama but you can ask an arbitrator for the body to set the time in which to comply with the measure, he said today the Foreign Minister Maria Angela Holguin.
“We will enforce the judgment but will be challenging for our industry. The WTO gives three to six months to take action to curb what caused the problem and an additional measure which is an arbitrator who studies the case and says the country how long should withdraw this measure, “said Colombian Foreign Minister at a press conference.
Colombia began in 2012 to apply tariffs of 10% to shoes and from textiles from the Colon Free Zone (CFZ), and a charge of $ 5 for each container with the argument that seeks to prevent smuggling and money laundering.
Last June, the WTO upheld a ruling in favor of Panama in which he declared that the Colombian tax “violates tariff levels committed by that country under the Agreement on Tariffs and Trade (GATT)”.
“We can keep talking to the two countries reach a decision or asked to WTO arbitrator to tell us how long it gives the country to remove this measure,” said Holguin.
Following the ruling, the Government of Colombia extended until November 1 this year tariff to protect against illegal trade.
For his part, President of Panama, Juan Carlos Varela, said yesterday that he hopes “Colombia, once and for all, accept the ruling” WTO declared illegal by the tariff.
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