Free Trade Agreement with Colombia
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Issue Summary
On October 21, 2011, President Obama signed the implementing legislation for the long-awaited Free Trade Agreement (FTA) with Colombia, along with the South Korea and Panama FTAs and a host of other trade legislation. It may be many months, however, until the U.S.-Colombia FTA goes into effect.
According to the American Chamber of Commerce in Colombia, implementation of the Free Trade Agreement (FTA) between the United States and Colombia could take eight or nine months. However, U.S. business leaders hoped the FTA would be in effect by the Summit of the Americas in April 2012 in Colombia. The Colombian government must change laws the implement the FTA, including passing legislative measures related to intellectual property, international arbitration procedures, and sanity and phytosanitary issues. In addition, the Colombian executive branch must announce rules regarding rules of origin, tariff reductions, market access, trade facilitation, safeguards, and intellectual property. On November 8-9, 2011, however, U.S. and Colombian officials met in Bogota to discuss the technical issues.
USA-ITA Position
USA-ITA is a strong supporter of removing barriers to trade with Colombia, and welcomes the passage of the Free Trade Agreement. It will likely be several months before the FTA is implemented, however, and USA-ITA will keep a close watch on the developments. Once the FTA is in effect, USA-ITA will press for further discussion to develop a Cumulation program for Colombia, Peru, and the United States.
Advocacy
On September 13, USA-ITA joined a number of textile, apparel, and retail associations in signing a letter to President Barack Obama and the Congressional leadership urging the passage of the then-pending U.S.-Colombia Free Trade Agreement (FTA). The delays in Congressional action and continuing uncertainty, combined with the expiration of ATPDEA, hurt USA-ITA member companies as well as their suppliers. The letter is available here.