Risk assessment of Colombia’s import operations

Every time companies carry out international trade operations, they are always subject toany kind of risk that might affect the business continuity and might even have long-termconsequences. In this regard, with the emergence of new FTAs and with the growth in the volume of Colombian foreign trade, ...

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Detalles Bibliográficos
Autores principales: de la Hoz, Andrea, Camargo-Montoya, Paola, Saldarriaga-Arango, Carolina, Praj, Dusan
Formato: Revistas
Lenguaje:Español
Publicado: Universidad de Cartagena 2014
Acceso en línea:https://revistas.unicartagena.edu.co/index.php/panoramaeconomico/article/view/1360
Descripción
Sumario:Every time companies carry out international trade operations, they are always subject toany kind of risk that might affect the business continuity and might even have long-termconsequences. In this regard, with the emergence of new FTAs and with the growth in the volume of Colombian foreign trade, the appearance of different types of risk in import and export operations, which Colombian companies have to face, has increased. Companies are often making determined efforts for having an adequate security while trading. However, if we take a close look at the import sector, we can notice that there is an evident lack of risk management awareness. This sector has still not detected all the risks concerning to the import processes, and therefore, it is still not aware of this kind of situation. This article tries to conceptualize the risk assessment, identifying all the possible risks that may arise in the import supply chain. Also, it addresses an analysis of Colombia’s most common imports and the countries where the higher amount of imports comes from, so that we can detect the main risksthe companies might face, particularly those from Medellin. Finally, this article encompasses the Colombian regulatory framework for risk management and some advices for Colombian importing companies.