Aid package for exporters
19/06/2008
The Colombian government has approved an aid package worth $119 million to help exporters whose costs have increased due to the strengthening peso.
Leathergoods exporting companies will be among the businesses to benefit.
The ministry of commerce and industry and the ministry of agriculture will share the money and each ministry will decide on exactly how to make it available to exporters.
Trade minister, Luis Guillermo Plata, said on June 17 that the government was considering reducing taxes for exporters to help avoid job-losses. He suggested that even providing loans directly to companies was a possibility.
Only companies that show that they are not planning to cut jobs will be eligible for the aid.
The Colombian peso has appreciated 21% so far this year aganist the US dollar.
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