Colombia has a competitive regime of FTZs with various benefits to the companies. For UPS Colombia one of the factors that influenced us to join the FTZ was to have some Customs benefits, such as the exception of payment of import duties on merchandise.
The fact that there are Customs benefits.
Foreign goods from our clients when coming to a FTZ are free of Customs clearance procedures.
Our clients with foreign operations can use the FTZ as a HUB or as a place from which to send merchandise from Colombia to the rest of the world.
In UPS we consider the FTZ encourages investment because the income tax is 15% less, perhaps, the fact we do not pay taxes for importing makes the process for our clients more productive in the zones.
One of the benefits to UPS of joining the FTZ is the reduction in costs to some sectors such as the High Tech sector, which has a positive impact of hiring more workers in some industries.
One of the benefits the FTZ has given UPS is the opportunity to offer differentiated services to our clients. For example, repacking, it´s faster reducing cost and time.
It has allowed us to improve our logistic costs for our clients making them more competitive in the market.