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8/6/2019 Colombia Free Trade Agreement (FTA) Congress Legislation for Business and Manufacturers
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ManuFACTS: U.S.-Colombia Trade Promotion AgreementA Win-Win for Colombian Consumers and U.S. Manufacturers
1331 Pennsylvania Ave NW, Suite 600, Washington, DC 20004 P 202•637•3000 F 202•637•3182 www.nam.org
• Colombia offers U.S. manufacturers a growing opportunity for exports
within a stable and expanding market. Over the last 15 years, Colombia’sGDP has grown at an average rate of 8.5 percent, according to the Interna-
tional Monetary Fund (IMF).
• Small and medium-sized manufacturers will strongly benefit from the
U.S.-Colombia agreement: over 10,000 small and medium-sized companies
export manufactured goods to Colombia, representing 85 percent of total
U.S. exporters.
• Manufactured goods are the vast majority of U.S. exports to Colombia. In2010, the U.S. exported over $11 billion worth of manufactured goods to
Colombia. Manufactured goods are 85 percent of total U.S. merchandise
exports to Colombia.
• Last year, the United States had a $7 billion trade surplus in manufactured
goods with Colombia. U.S. manufactured goods exports to Colombia have
grown by 130 percent over the past five years.
How Congress Can Help
• This trade agreement is a deficit-neutral, job-creating economic stimulus package. This preferential tradeagreement will increase U.S. manufacturing exports to Colombia. The Obama Administration needs to send
this trade agreement to Congress for approval as quickly as possible, and Congress should act immediatelyto pass the implementing legislation.
8/6/2019 Colombia Free Trade Agreement (FTA) Congress Legislation for Business and Manufacturers
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Bottom LineThe U.S.-Colombia trade agreement offers real advantages to
the manufacturing sector:
• Due to preferences programs, over 90 percent of Colombia’s
exports to the U.S. enter our market duty-free—they face no
tariffs on their goods.
• U.S. manufactured goods face an average tariff of 14 percent
in Colombia. This agreement will lower these tariffs to zero, in
most cases immediately.
• Over 60 percent of Colombia’s exports to the United Statesare oil and mineral fuels. Over 90 percent of Colombian exports
are oil, fruits, flowers, coffee or precious stones. American
manufacturing will not be impacted by Colombian exports.
• Failure to pass the agreement could cause the U.S. to lose
our strong presence as a market leader—other countries
such as Canada and the European Union will soon enter into
trade agreements with Colombia.
More Information
Web: www.nam.org/trade
E-mail: [email protected]
April 2011
