Columbia Levying High Tariffs On Textiles Exported To Panama

　　 Panama The Colon Free Zone (CFZ) continued to suffer from the impact of Columbia's high tariffs on textiles and footwear and the arrears of Venezuelan traders. The operation in the region continued to deteriorate. The volume of trade in the 3 quarter of this year (2014) was 18 billion 193 million US dollars, which was 2 billion 920 million US dollars lower than the 21 billion 113 million US dollars in the same period (2013), and the recession was 13.8%.

Among them, imports amounted to US $8 billion 413 million, a decrease of US $1 billion 534 million over the same period last year, a decline of 15.4%, and an export volume of US $9 billion 780 million 100 thousand, a decrease of 1 billion 385 million US dollars compared with the same period last year and a 12.4% decline.

Columbia's export to Panama to Columbia. textile and footwear Levying high tariffs will reduce the volume of trade transferred from CFZ to Columbia by 20-30%. On the other hand, Venezuela's foreign exchange control measures result in the failure of the Commission to pay up to 1 billion 700 million US dollars in the amount of CFZ domestic traders and the sharp decline in the amount of the CFZ Export Commission.

Severo Sousa, former chairman of the CFZ user association, said that despite the current peak sales season before Christmas, most manufacturers in the region are still not optimistic about whether the future business situation can be improved. It is estimated that the volume of domestic trade in the whole year will probably decline by 12% over the past year.

Related links:

In the first three quarters of this year, the amount of cross-border RMB settlement in China has exceeded 4 trillion and 800 billion yuan. This figure has increased by more than 50% compared with 3 trillion and 160 billion yuan in the first three quarters of 2013, and the total amount of cross-border RMB settlement reached 19 trillion and 900 billion yuan in the whole country.

In the recently held "Canton Fair cross border RMB business policy seminar", the central bankers pointed out that RMB cross-border settlement has become a powerful starting point for China's trade enterprises to reduce costs and steady growth.

Li Simin, vice president of the people's Bank of China (people's Bank of China) Guangzhou branch: Cross-border RMB business has become a strong hand for enterprises to reduce the exchange rate risk and reduce the financial and comprehensive costs. According to the enterprise, we can see that the cost savings or revenue increase of enterprises in the process of cross border RMB settlement is about 2% to 3%. According to the total settlement amount of 5 trillion and 600 billion in Guangdong Province, the cost of saving enterprises is about 160 billion yuan, which has played a positive role in promoting Guangdong's steady growth in foreign trade and supporting local economic development.

Across the country, the cost of saving cross-border RMB business has reached nearly 600 billion yuan. Canton Fair is the largest international trade platform in China. It is known as "barometer" and "wind vane" of China's foreign trade. Many enterprises participating in the past 5 years have been deeply aware of this. However, the degree of acceptance of RMB settlement in different markets is very different. Enterprises also hope that the pace of internationalization of RMB can be faster.