Describe some benefits of your FTZ
The FTZ of Barraquilla is in a privileged area as it is part of a port, also it has warehouses, 1 million m2 of land and 900 metres of Riviera. Last year the port handled more than 2 million tonnes, making it the most efficient port with the exception of Ecopetrol in Covenas. It means that our FTZ is strategically very convenient for international commerce especially in the petro chemical sector.
What is important for business, especially foreign, are tax and customs advantages. For a company located in a FTZ to receive and deliver merchandise requires little paperwork, just the commercial invoice and the DL, however there is a whole process concerning importation and tax payments for those not in a FTZ. Another important factor is security; this FTZ has a perimeter wall and very effective internal security. Also because of International ranking we legally have to have security of stock control and of buildings because we have to comply with Government requirements. For example, we have to have entrance security for the control of people and merchandise that means there is more security of stock and buildings. In addition to this there is also control by the authorities DIAN, the FTZ operator and external audits which means foreign companies, which are run from a distance away, feel well protected because they know the rules will be adhered to.
The companies in this FTZ are special because they operate in a transparent way and submit to the regime. There are many eyes watching them here so the companies here are A1, they accept any control and this makes them special.
Another important thing is our International School of Commerce, which has connections with 80 countries and knowledge of their regulations meaning knowledge is shared resulting in closer relationships between the companies.