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Chairing this third Trade Policy Review of Colombia in replacement of Ambassador Uribe has proved to be a rewarding experience. The review has been exemplary in many ways, offering as it has a better understanding of the evolution of Colombia’s trade policies and practices over the last ten years. We owe this to the hard work and commitment to the TPRM objectives of Vice-Minister Muñoz, Ambassador Uribe and the of the rest of the Colombian delegation; the thoughtful intervention by the discussant, Ambassador Allgeier; and to the engagement of the many Members which took part in this exercise.
Members welcomed the acceleration of Colombia’s economic growth in recent years. This was attributed to sound macroeconomic policies and structural reforms undertaken in the aftermath of the economic downturn in 1998-99. Members highlighted the contribution to growth made by expanding exports and investment, and encouraged Colombia to persevere with structural reform to achieve its ambitious economic growth and poverty alleviation targets.
Members commended Colombia’s commitment to the multilateral trading system, including its active and constructive participation in the Doha Development Agenda. Members also took note of Colombia’s involvement in preferential agreements, and urged it to ensure the coherence among its bilateral and regional initiatives, and between these initiatives and the WTO. Members appreciated recent steps to enhance the security of investment, but noted that further steps could still be taken to reduce the perceived risks of investing in Colombia. In this context, Members also took note of Colombia’s efforts to address its internal conflict.
Members recognized the efforts made by Colombia to modernize and liberalize its trade regime. They noted, however, that applied average tariff protection had increased slightly and considered that the predictability of the trade regime would be enhanced by narrowing the gap between bound and applied tariffs. Colombia was invited to ensure that certain practices related to customs, import licensing, SPS and TBTs do not become unjustified trade barriers.
Members welcomed Colombia’s commitment to phasing out by end 2006 a number of programs providing export subsidies but some were still concerned about the price-band system. Colombia offered information concerning consumption taxes and the proposed elimination of differences in the application of the VAT to imports and domestic products. Colombia also explained various aspects of its competition policy and IPR protection regimes. Members took note of the elimination of the agricultural absorption policy but a number of them questioned the administration of tariff quotas.
Members praised Colombia for undertaking reforms to modernize its services sector, noting its relatively large size. They also pointed out that Colombia had reaped numerous benefits from past liberalization efforts, and encouraged it to continue along this path, including by expanding its GATS commitments. Colombia indicated that its Doha revised services offer included additional commitments in many sectors that are currently unbound or only partially bound.
In conclusion, the numerous interventions and questions during this Review are indicative of Colombia’s active role in WTO and of Members interest in its policies. Members clearly welcomed the steps taken by Colombia towards a more open and competitive economy, while also encouraging Colombia to consolidate and build on its achievements of recent years. In this respect, Colombia’s current efforts to strengthen and give greater predictability to its legal framework will prove key in boosting traders’ and investors’ confidence. These efforts are indeed crucial, and Colombia could buttress them by anchoring its existing legal framework through the widening and deepening of its multilateral commitments. I was pleased to hear that Colombia is ready to take steps in this direction, which would support both Colombia’s development strategy and our collective efforts in the Doha Development Agenda. |
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