Colombia: Free trade agreement with Costa Rica

Colombia: Free trade agreement with Costa Rica

A free trade agreement was signed by representatives of the governments of Colombia and Costa Rica in July 2016. With the free trade agreement’s entry into force, measures will strengthen investments within the manufacturing, textile, agricultural and services sector.

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In total there will be 407 products that can be imported from Costa Rica to Colombia free of custom duty, including: fuel, dyes, fertilizers, paints, lamps, transformers, women´s clothes, salt, charcoal, medicines, cars, fibers, auto parts, and toys. The free trade agreement will also remove trade barriers for Colombian exports, with over 74% of the manufactured products will become duty-free, with remaining tariffs phased out over five to 10 years. Many agricultural goods also will benefit from the agreement with a tax relief of 81%, of which only the 60% will be duty-free immediately. 

 

Read a 2016 report (Spanish) [PDF 103 KB] prepared by the KPMG member firm in Colombia

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