05/15/2013
Washington, D.C. – Today, Acting United States Trade Representative Demetrios Marantis welcomed growing exports for U.S. businesses, farmers, and ranchers on the first anniversary of the entry into force of the U.S.-Colombia trade agreement. U.S. manufacturers substantially increased exports of transportation equipment, petroleum and coal products, processed food, and computer and electronic products, while farmers and ranchers saw strong growth, including in soybeans, wheat, grapes, pork, and dairy products.
“As we mark one year of expanded trade between the United States and Colombia, American businesses, farmers, ranchers, and workers are already seeing tremendous benefits thanks to the lowering of barriers achieved by the U.S.-Colombia trade agreement,” Ambassador Marantis said. “In a word, the potential for trade between our two countries to continue to grow is exciting. We will continue to work closely with the Colombian government to address issues as they arise and ensure that benefits continue to accrue to both countries.”
U.S. goods exports to Colombia totaled $15.9 billion, up 20% ($2.6 billion) for May 2012-March 2013 compared with the same period prior to entry into force. In terms of agricultural exports, Colombia was already the second largest purchaser of U.S. agricultural products in South America, but the improved access afforded by the trade agreement has opened the market even further. From May 2012 through March 2013, U.S. exports of agricultural products to Colombia were up nearly 62% from the comparable preceding 11-month period.
The United States and Colombia signed the U.S.-Colombia Trade Promotion Agreement on November 22, 2006. On April 7, 2011, the two countries adopted a Labor Action Plan that included major, swift, and concrete steps for the Colombian government to take in order to address serious and immediate labor concerns. The U.S. Congress approved the U.S.-Colombia pact on October 12, 2011, and the agreement entered into force on May 15, 2012. Over 80% of U.S. exports of consumer and industrial products and more than half of agricultural exports to Colombia are already duty free under the agreement, with remaining tariffs phased out over defined time periods.
For more information, see this fact sheet.
