Colombia’s President Orders Tariff Elimination On Fabrics & Leather

According to Colombia's El República report on October 12, President Gustavo Petro has recently instructed the country's Ministry of Commerce, Industry and Tourism to fully eliminate tariffs on imported fabrics and leather.

President Petro emphasized that this measure is designed to cut production costs, boost value addition, and enhance export competitiveness. He noted that Colombia's garment manufacturing sector already produces high-quality products, and reducing financial burdens for local manufacturers will significantly strengthen their ability to compete in global markets.

The move has drawn positive responses from the textile industry. Criadro, a representative of Colombia's textile sector, pointed out that the industry is dominated by small and medium-sized enterprises (SMEs) focused on the popular economy-with approximately 142,000 such businesses accounting for 99% of all textile enterprises. These SMEs are key drivers of employment in Colombia's fashion and garment industry. Criadro further called on the government to take additional action, specifically urging the elimination of tariffs on raw materials like yarn, to further stimulate grassroots economic growth and support the entire textile supply chain.

For Colombia's textile and garment manufacturers, the tariff cut on fabrics and leather is expected to ease cost pressures immediately, allowing them to allocate more resources to product innovation and export expansion. It also signals the government's commitment to supporting the sector, which plays a vital role in creating jobs and driving non-oil export growth.

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