United States-Colombia Trade Promotion Agreement

United States-Colombia Trade Promotion Agreement. The United States Congress approved the agreement on October 12, 2011, after Barack Obama, the President of the United States, sent it to Congress for consideration. The agreement was negotiated by George W. Bush, the 43rd President of the United States, and Álvaro Uribe, the President of Colombia, with support from United States Trade Representative Susan Schwab and Colombian Minister of Commerce, Industry and Tourism Luis Guillermo Plata. The agreement aimed to promote free trade between the United States and Colombia, following the model of the North American Free Trade Agreement and the Central American Free Trade Agreement.

● Introduction

The United States-Colombia Trade Promotion Agreement is a bilateral trade agreement between the United States and Colombia, designed to reduce trade barriers and increase trade between the two countries. The agreement was signed on November 22, 2006, by George W. Bush and Álvaro Uribe, and was later approved by the United States Congress on October 12, 2011, with support from Democratic Party (United States) members such as Nancy Pelosi and Harry Reid, as well as Republican Party (United States) members like John Boehner and Mitch McConnell. The agreement is similar to other free trade agreements negotiated by the United States, such as the United States-Peru Trade Promotion Agreement and the United States-Panama Trade Promotion Agreement, and is part of the United States' efforts to promote free trade in the Western Hemisphere, as outlined in the Free Trade Area of the Americas initiative, supported by Organization of American States and Inter-American Development Bank.

● Background

The United States-Colombia Trade Promotion Agreement was negotiated in the context of the Andean Trade Promotion and Drug Eradication Act, which provided trade benefits to Colombia, Peru, Ecuador, and Bolivia in exchange for their cooperation in the War on Drugs. The agreement was also influenced by the United States' efforts to promote democracy and stability in the Andean region, as outlined in the Andean Regional Initiative, supported by United States Agency for International Development and United States Department of State. The Colombian government, led by Álvaro Uribe and later by Juan Manuel Santos, has implemented various policies to improve the country's business climate, including the creation of ProColombia, a government agency responsible for promoting foreign investment and tourism in Colombia, with support from World Bank and International Monetary Fund. The agreement has been supported by various business organizations, such as the United States Chamber of Commerce and the National Association of Manufacturers, as well as by labor unions like the AFL-CIO and the Change to Win Federation, which have worked with International Labor Organization and World Trade Organization.

● Provisions

The United States-Colombia Trade Promotion Agreement includes provisions on tariffs, non-tariff barriers, services trade, and intellectual property rights. The agreement eliminates tariffs on most goods traded between the United States and Colombia, with the exception of some sensitive products like agricultural products and textiles. The agreement also includes provisions on dispute settlement, investment protection, and labor rights, as outlined in the North American Agreement on Labor Cooperation and the Dominican Republic-Central America-United States Free Trade Agreement. The agreement is designed to promote fair trade and competition between the United States and Colombia, and to increase investment and economic growth in both countries, with support from Inter-American Investment Corporation and Council of the Americas.

● Ratification_and_Implementation

The United States-Colombia Trade Promotion Agreement was ratified by the United States Congress on October 12, 2011, and entered into force on May 15, 2012. The agreement was implemented by the United States Trade Representative and the Colombian Ministry of Commerce, Industry and Tourism, with support from United States Customs and Border Protection and Colombian Customs. The agreement has been monitored by the United States International Trade Commission and the Colombian National Planning Department, which have worked with World Trade Organization and Organization for Economic Co-operation and Development to ensure its effective implementation.

● Economic_Impact

The United States-Colombia Trade Promotion Agreement is expected to have a positive economic impact on both the United States and Colombia. The agreement is expected to increase trade between the two countries, particularly in sectors like agriculture, manufacturing, and services. The agreement is also expected to promote investment and economic growth in Colombia, and to increase competitiveness and productivity in both countries, with support from International Finance Corporation and Multilateral Investment Guarantee Agency. The agreement has been supported by various economic organizations, such as the International Monetary Fund and the World Bank, which have worked with United Nations Conference on Trade and Development and Economic Commission for Latin America and the Caribbean to promote economic development in the region.

● Criticisms_and_Controversies

The United States-Colombia Trade Promotion Agreement has been criticized by some labor unions and human rights organizations, which have raised concerns about the labor rights and human rights situation in Colombia. The agreement has also been criticized by some environmental organizations, which have raised concerns about the environmental impact of trade and investment in Colombia. The agreement has been supported by various business organizations, which have argued that it will promote economic growth and job creation in both the United States and Colombia, with support from Business Council for International Understanding and National Foreign Trade Council. The agreement has been monitored by various international organizations, such as the International Labor Organization and the United Nations Human Rights Council, which have worked with European Union and Organization of American States to promote human rights and labor rights in the region. Category:United States trade agreements