Andean allows Venezuela & Colombia to raise tariffs

Andean allows Venezuela & Colombia to raise tariffs

The Andean Community trading block has granted Venezuela the right to increase its tariffs on steel imports from non-member countries by 20%, 25% or 30%, depending on the product while Colombia, another member, has been granted to increase tariffs by 10% to last until October 2003, according to latest reports from the industry. The range of products that may be subject to such duties cover flats, longs, wires, tubes and finished goods. Andean Community is a sub regional organization, consisting of Bolivia, Colombia, Peru and Venezuela and bodies and institutions that aim to work closely in the region to promote the integration, external projection and reinforce the actions in connection with the process.