Colombia Modifies Threshold Prices for Textiles, Apparel and Footwear
In December 2017, Colombia introduced a threshold price mechanism to enhance its risk management and customs controls for imports of fibers, yarns, fabrics, apparel, made-up textiles, and footwear from all origins. This system requires importers to meet specific requirements when the declared FOB price of a covered product is at or below the established threshold price. In such cases, importers must submit an advance import declaration at least one month before the goods arrive in Colombia, along with supporting documentation. This includes a legalized certification from the foreign supplier, a list of distributors in Colombia for the imported goods, and evidence that the declared value reflects the actual price paid or to be paid.
Effective March 18, Colombian authorities updated these threshold prices to reflect current market conditions and strengthen compliance. If a dispute arises during customs inspections regarding the declared value, importers can secure the release of their goods by providing a guarantee. This guarantee must equal 200 percent of the difference between the importer’s declared FOB price and the amount calculated by multiplying the unit threshold price by the quantity imported. This updated mechanism aims to ensure accurate valuation, streamline customs processes, and maintain fair trade practices while supporting Colombia’s efforts to combat undervaluation and protect its domestic industries.
Threshold Prices for Textiles, Apparel and Footwear Effective 18 March 2025
Colombia Modifies Threshold Prices for Textiles, Apparel and Footwear
