Free Trade with Colombia

Saturday, 25 May 2013

First Anniversary of Free Trade Shows Success

Free Trade


The US-Colombia free trade agreement went into effect in May of 2012. In its first year US exports to Colombia increased by nearly 15%, while Colombian exports rose by 3%. There’s more in this picture: 187 new Colombian products came here, with 775 new companies participating. The two-way trade should increase even more as the trade agreement is fully implemented and opportunities open up. Another indication that it’s a new ball game in Latin America, with thriving economies opening up to global trade. How far the US will go with emerging trading blocs will be a test for the executive and Congress. Note: the agreement with Colombia took 5 years and was nearly defeated by protectionists in the US. Note also: the free trade with Mexico supports 6 million US jobs.


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