Colombia's trade with the U.S. grew 10% after the Free Trade Agreement

Posted by Camilo Espinosa on May 1, 2013

After a year of having signed the Free Trade Agreement (FTA) with the U.S., the Department of Commerce of the United States announced a ten percent growth in trade between both countries. It is noteworthy that Colombia exported goods to the United States for an amount close to 24,700 million dollars. This is very exciting for Colombian exporters because it is a figure that they have reached for the first time. On the other hand, the United States exported products to

Colombia worth 14.340 million dollars, a 12 percent growth.

The FTA is generating opportunities for both countries. It is also increasing economic growth and creating new jobs in Colombia and the United States. The areas that were negotiated as part of the agreement include market access, intellectual property, investment, government procurement, conflict resolution mechanisms, electronic commerce , environmental law and services.

The FTA makes permanent a reciprocal two-way trading relationship, bolster export growth and support jobs. The agreement immediately provides duty-free access to the Colombian market for more than 80 percent of U.S. consumer and industrial goods.

Contact LOIGICA today to learn more about the FTA and/or how to export your products to Colombia and to other South American countries.

Topics: Business Law