Us Colombia Free Trade Agreement

The agreement was signed on 22 November 2006 and presented to the Colombian Congress by President Alvaro Uribe on 30 November 2006. The bill was discussed and passed at a joint meeting on April 25, 2007. The House of Representatives approved it on June 5, 2007 (Yeas 85, Nays 10) and the Senate vote on June 14, 2007 (Yeas 55, Nays 3). Finally, on July 4, 2007, the CTPA was made public – Ley 1143 – . It was passed by the House of Representatives 262-167 and the Senate 66-33 after renegotiating parts of the agreement. A trade Adjustment Assistance (TAA) program was also included in the bill. [13] [14] New opportunities for U.S. workers, producers, farmers and ranchers: more than 80% of U.S. exports of consumer goods and industrial products to Colombia were released after entry into force and the remaining tariffs were verified over a 10-year period. U.S. products that have received immediate duty-free access include agricultural and construction equipment, aircraft and parts, auto parts, fertilizers and agrochemicals, computer equipment, medical and scientific equipment, and wood. More than half of U.S.

agricultural exports became free when it came into force, with most of the remaining tariffs expiring over 15 years. Colombia has abolished tariffs on wheat, barley, soybeans, soy flour and flour, high quality beef, bacon, almost all fruits and vegetables, peanuts, whey, cotton and the vast majority of processed products. The TPA also provides duty-free access to certain quantities of standard beef, chicken-legged quarters, pork, corn, sorghum, feed, rice, soybean oil and dairy products through tariff quotas. Find out more here. Environmental protection obligations: Both sides have also committed to effectively enforcing their national environmental legislation and to enact, maintain and implement laws, regulations and other measures to meet their obligations under the multilateral environmental agreements covered. All environmental chapter obligations are subject to the same dispute resolution procedures and enforcement mechanisms as the commercial obligations of the APA. Colombia, which then joined Peru and Ecuador and in which Bolivia participated as an observer, began free trade negotiations with the United States on 18 May 2004. After thirteen rounds of negotiations, Colombia and the United States concluded their free trade agreement on 27 February 2006. On August 24, 2006, a Memorandum of Understanding was sent to Congress to conclude a free trade agreement. The Colombia-U.S. trade agreement was signed on November 22, 2006. In Colombia, the agreements were approved by Congress on 14 June 2007.