COLOMBIA

On 26 January 2022, Singapore signed the Pacific Alliance-Singapore Free Trade Agreement (PASFTA) with the Pacific Alliance, comprising Chile, Colombia, Mexico and Peru. More

Not long after Mexico announced that it was increasing its single tax rate for postal and courier imports that benefit from simplified entry procedures, Colombia took the opposite route by providing duty-free and VAT-free treatment to such shipments with an FOB value of US$200 and below, not including delivery costs. More

The Andean Community – Bolivia, Colombia, Ecuador and Peru – recently adopted unified labelling requirements for apparel, made-up textiles, footwear, and leather and travel goods, making it easier for exporters in Hong Kong, mainland China and other locations with clients across the globe to comply with a multitude of often dissimilar labelling regulations. More

Imports and exports from Latin America form a small but rapidly growing part of Hong Kong’s total trade. The region could well be useful as a hedge should US demand for Hong Kong’s products fall as a result of the Sino-US trade dispute. It will also be a potential new client for Hong Kong’s services as its businesses make inroads into the mainland Chinese market. More