U.S.-Colombia Trade Promotion Agreement
The U.S.-Colombia Trade Promotion Agreement took effect on May 15, 2012. As a result of the Agreement, 80 percent of U.S. consumer and industrial goods exports to Colombia are no longer subject to tariffs. Tariffs on the rest of those products will be phased out over ten years. Many agricultural commodities also benefit from the Agreement, as more than half of current U.S. farm exports to Colombia are now duty-free, and virtually all remaining tariffs will be eliminated within 15 years. To be eligible for tariff-free treatment under the TPA, products must meet the relevant rules of origin.
The TPA also provides favorable access for U.S. service suppliers, as well as guarantees of protection to U.S. investors and U.S. copyrights, trademarks, and patents registered in Colombia. In addition, Colombia has opened up significant government procurements to U.S. bidders.
Colombia is a growing market for U.S. exporters. Colombia’s economy is the third largest in Central and South America. This comprehensive trade agreement will eliminate tariffs and other barriers to U.S. exports, expand trade between our two countries and promote economic growth for both.
U.S. merchandise exports to Colombia totaled $14.3 billion in 2011, up 18% from 2010. Principal U.S. exports to Colombia in 2011 were machinery, mineral fuels, electrical machinery, organic chemicals, and plastic. The best-prospect sectors for non-agricultural goods and services include automotive parts, construction and mining equipment, electrical power systems, food and beverage processing equipment, information technology, medical equipment, transportation and infrastructure, and travel and tourism.
- U.S.-Colombia Trade Promotion Agreement legal text
- Trade Information Center
- U.S. Commercial Service in Colombia
- U.S. Export Assistance Center in your neighborhood
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