Opportunities for investment

Fashion sector

The fashion sector accounts for 13% of the Industrial GDP, close to 1.6% of the national value-added and 5% of Colombia's total exports. The National Institute for Exports and Fashion (Instituto para la Exportación y la Moda, Inexmoda), The National Administrative Department of Statistics (Departamento Administrativo Nacional de Estadística, DANE) and the National Planning Department (Departamento Nacional de Planeación, DNP), 2011.
In 2011 the textile industry grew by 6.4% and the apparel construction industry grew by 5.5% driven by internal demand. DANE, 2011.
Total sales for the sector grew to an annual compound rate of 8% since 2000. DANE and The National Association of Colombian Industrialists (Asociación Nacional de Empresarios de Colombia, ANDI), 2011.
Increased imports of 46% to meet the internal and external demand: the apparel sector saw a 67% growth; leather, footwear and leather goods saw a 47% growth, while textiles grew by 40%. The National Directorate of Taxes and Customs (Dirección Nacional de Impuestos y Aduanas, DIAN), 2011, and INEXMODA.
Big-name multinationals in the sector have set up operations in Colombia, including: Kaltex, Polymer Group and Park Dale Mils.

A sector steeped with tradition: Over 100 years of experience and a consolidated production chain.
High level of job creation: around 110,000 direct jobs accounting for 20% of the workforce in the industrial sector. Inexmoda, 2012.
More than 30,000 companies registered with Chambers of Commerce. Inexmoda, 2012.
More than 70% of companies participate in apparel, manufacturing and trade activities. There exist investment opportunities with vertical integration in the areas of textiles, fibres, raw materials and services. Inexmoda, 2012.
In 2011 imports increased by 75% to meet the external demand, mainly for technical textiles. DIAN, 2011.

Initiatives and incentives from the Colombian government to boost R&D&I in the sector. The Administrative Department of Science, Technology and Innovation (Departamento Administrativo de Ciencia, Tecnología e Innovación, Colciencias).
High intellectual property standards: Protection of industrial property in compliance with international standards (20 year protection to patent owners).
Five years protection of information not disclosed in commercial records.
Opportunities for the sector's research institutes and centres: development of new fibres and inputs, functional textiles, processes and finishes for the industry.

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