HOW THE INTERNATIONAL TRADE WORKS IN COLOMBIA
International businesses are usually related to import and export and the commercial development of these activities.
Import refers to any product, good or service that is transported from one country to another for the purpose of being distributed for consumption or use within that country. Export on the other hand focuses on products, goods or services that are shipped out of a territory. To sum it up, we import into the country what is produced in other places in order to consume it and we export what we produce so that others can consume it in other places.
But to do this we must follow rules, comply with laws and pay tax duties, in addition to considering all the possibilities to achieve the planning of a successful business related to foreign trade. In Colombia the laws are also focused on enforcing the parameters that the authorities provide to prevent criminal or illegal actions and harmful to the nation.
To import and export in Colombia it is important to define that they are different activities and imply certain conditions in which a businessman must be able to investigate to know what tariff amounts must be paid, what taxes must be paid, the rules and permits in general to which a product may be subject, among other things.
Which are the most common problems when Import and Export:
- Lack of knowledge of import/export processes: In order to carry out either of the two procedures, it must be taken into account that numerous legal, sanitary, technical and cultural controls must be overcome, but everything must be done taking care of the quality of the product, good or service. The solution is to carefully plan and design the logistics, researching very emphatically the precise information on how to carry out the whole process.
- Ignorance of regulations: The laws, norms and rules imposed by the institutions include all the requirements that must be fully complied with, as well as tariff and non-tariff regulations, in order to achieve a successful international trade exchange.
- Miscalculating operation costs: In this particular case about exporting, sometimes when carrying out the operation you end up having losses instead of profits and this happens because often entrepreneurs count only the price or cost of the goods they are exporting, without including customs expenses, packaging, transportation, among others, costs should always include all procedures that involve a monetary expenditure.
- Both imports and exports are key in the development of nations, that is why it is important to be able to be patient when carrying out these commercial transactions, because they are not fast and do not have immediate results. To achieve success in your business it is important that in addition to the effort you can wait long enough to receive the much deserved fruits of your labor.
Working in logistics and being in the middle of the supply chain can be stressful and we all want to give our customer an optimal service.