Clear progress in modernization & liberalization needs reforms
23 Nov '06
1 min read
Colombia has achieved steady economic growth in recent years, and has made definite progress in the modernization and liberalization of its trade regime since its previous review in 1996.
Non-tariff barriers to trade have been significantly reduced and the country has embarked on an ambitious programme of reforms of many economic sectors particularly services, according to a WTO Secretariat report on the trade policies and practices of Colombia.
The report notes that to consolidate and broaden these gains it would be important to address, among others, certain practices related to customs, import licensing, local content requirements, internal taxes and the regulation of certain services. It would be also useful to reassess export promotion and incentive schemes.
The report, along with policy statement by the Government of Colombia, will be the basis for the third Trade Policy Review (TPR) of Colombia by the Trade Policy Review Body of the WTO on 22 and 24 November 2006.
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