Wednesday, September 22, 2021

U.S.-Colombia Free Trade Agreement now in effect

The long-delayed free trade agreement between the US and Colombia has come into effect, more than five years after being signed.

At the stroke of midnight, a planeload of flowers – an important export for Colombia – left Bogota to become the first shipment under the deal.

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The pact was held up in the US Congress amid concern over Colombia’s record of violence against trade union leaders.

It finally passed last October, after pressure from the Obama White House.

Later on Tuesday, a Harley-Davidson motorcycle was set to be unveiled as one the first US exports to Colombia as part of the agreement.

Both countries hope the deal will boost mutual exports and investments, as well as underpin the two countries’ close political ties.

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Colombia has long been seen as one of the United States’ staunchest allies in the region.

The pact means a wide variety of goods, including machinery, raw materials and agricultural products, can be traded without import tariffs needing to be paid.

The US International Trade Commission estimates that the value of US exports to Colombia could rise by $1.1 billion while Colombian exports the other way could grow by $487 million.

The accord, signed during President George W Bush’s administration, was opposed by US labour groups, who feared job losses.

Many Democratic members of Congress argued that it should not be approved until they were satisfied Colombia had done enough to stop violence against union organizers.

There was also opposition from Colombian trade unions, who expressed concern about whether the country was developed enough to compete.

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Urging Congress to ratify the deal, the Obama administration warned that further delay would cost the US jobs and the chance to boost exports.

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FACT CHECK:
We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

Rico
"Rico" is the crazy mind behind the Q media websites, a series of onlinemagazines that includes TodayColombia.com. Rico brings his special kind of savvy to online marketing. His websites are engaging, provocative, informative and sometimes off the wall, where you either like or you leave it. The same goes for him, like him or leave him.There is no middle ground. No compromises, only a passion to present reality as he sees it!

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