The Colombian Committee of Steel Producers, also known as ANDI-CPA, has opposed the government’s decision to reduce the import tariff for steel products from countries with which Colombia doesn’t have free trade agreements.
According to a media report by La Republica, the import tariff for those countries was reduced to 5 percent, from 10 percent. ANDI-CPA said the decision won’t help the rebound of the local steel industry and will also reduce investments.
ANDI-CPA said there are five Colombian steelmakers with “ample capacity” to supply steel products. Additionally, there are at least 40 countries with which Colombia has free trade agreements, and from which Colombian companies could import steel while paying no import tariff.
“The reduction of this tariff is like signing an express free trade agreement with countries like Turkey and China, it’s the unilateral granting of benefits,” it said in a statement, adding Colombia would get nothing in exchange.