Rosa María Gamarra – General Manager of the Western Free Trade Zone
Adaptation, a concept that has been one of the most talked about in recent months and applied to both large and small businesses in our country, has pressured us, in a positive way, to reevaluate our business strategies and thus be able to evolve and continue operating.
The isolation and access restrictions imposed by the COVID-19 pandemic have highlighted the need to increasingly implement tactics that consider the development of e-commerce or the use of digital platforms in organizations. We have faced many challenges, but we have also seen significant opportunities to advance and enter the global era of the digital revolution.
In the case of the free trade zones, we have continued to operate, working hand in hand with all stakeholders in the chain to meet the demand, especially for items for the health sector. Through the use of new and diverse initiatives, we have managed to maintain the attraction of foreign investment, generate and sustain jobs, boost supply in exports to different countries, and transfer new technologies.
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It is important to highlight that, given the strategic value of free trade zones, they will play a crucial role in reactivating the national economy, not only for the reasons mentioned above, but also because the benefits provided by the regime will boost cash flow and empower entrepreneurs. These benefits, combined with the free trade zone regime, will be a stimulus that will attract investors.
Thus, announcements such as the implementation of free trade zones for e-commerce imports by the Ministry of Industry and Commerce represent a huge leap forward in Colombia's international trade, primarily strengthening the SME sector so they can export under the various incentives available in the free trade zones.
Its economic and social importance is such that it would further maintain employment and boost the use of technology by modifying the current principle of exclusivity in free trade zones and allowing companies to hire positions that can work remotely, with their presence required only in specific cases.
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The Virtual Free Trade Zone, in this sense, can be a trading platform to incentivize sales of products and services for users in each free trade zone, without limits or restrictions, and following the example of great revolutionaries such as Amazon, eBay, and Alibaba, contributing to the economy, as I've already mentioned, and creating more business opportunities.
This, in turn, would bring benefits in the form of a significant reduction in costs for companies located in the free trade zone, as it would facilitate logistics planning and distribution of goods, with more flexible schedules and shorter delivery times.
Investors will need to be made aware that Colombia does have legal and tax stability regarding the benefits available, because otherwise, many clients would be discouraged. Likewise, a representative and participatory structure that encompasses perspectives from different angles, legal stability for all actors in the chain, and legislation will be essential for this initiative to prosper.
Taken from: The new digital Free Trade Zones and the reactivation