Last year, the country's free trade zones invested 1,9 trillion pesos, according to the ANDI Chamber of Free Trade Zone Users.
The first decisions on the extensions of the country's free trade zone declarations have already been made.
Édgar Martínez, director of the ANDI Free Trade Zone Users Chamber, confirmed to El Universal that as of last year, 17 applications for extensions had been received, of which 10 have already been approved, and decisions on the remaining applications are expected in the second quarter of this year. (Read here: With the promise of more jobs, the Western Free Trade Zone was extended for 30 years).
Of the 17 applications that were processed, 11 correspond to permanent free trade zones and 6 to special free trade zones, the source said. The approved extensions are for 30 years. Names were not disclosed.
The most recent free trade zone declarations in the country were issued in 2021 and correspond to a seaport in the Urabá region (Antioquia) and another corresponds to a medicinal cannabis company.
Martínez also revealed that 50 new users arrived in the country's free trade zones last year. To date, there are 122 declared free trade zones in Colombia, which together generate 155.000 jobs.
Accumulated investments in free trade zones are estimated at 52 billion pesos, and in the last year alone (2021) these represented 1,9 billion pesos.
Regarding foreign trade operations in free trade zones, exports showed a 24% increase. Exports represent 61% of foreign trade operations, compared to 49% of imports, Martínez stated.
OUTLOOK 2022
According to Édgar Martínez, Director of the Andi Chamber of Free Trade Zone Users, 2022 will bring major changes to the sector. The following are mentioned:
– The regulation of import e-commerce, which will facilitate digital trade and bring significant investment to free trade zones.
– Regulations are also expected to allow the entry of companies dedicated to medicinal cannabis into the free trade zones. It is estimated that more than 10 production and logistics projects have already been identified.
– Companies operating in free trade zones are also awaiting the regulation of the so-called Authorized Economic Operators (AEOs) in these areas. These regulations are expected to be ready in the first quarter of the year, Martínez predicts.
Taken from: El Universal