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Wednesday, March 24, 2004
U.S. Chamber Launches New Trade Coalition
Group to Work With Colombia FTA
WASHINGTON, D.C. – The United States Chamber of Commerce announced the launch of a business coalition to support the negotiation and approval of a free trade agreement between the U.S. and Colombia, during a visit to the U.S. Chamber by Colombian President Álvaro Uribe.
“The proposed free trade agreement is an opportunity to expand on the success of our economic ties with Colombia,” said Daniel W. Christman, Chamber senior vice president for international affairs. “This agreement will be an economic shot in the arm for the U.S. and the Andean region.”
U.S. Trade Representative Robert B. Zoellick announced in November that the U.S. will negotiate a free trade agreement with the Andean countries, with Colombia at the forefront. Negotiations will begin in the second quarter of 2004.
By eliminating barriers to trade, this agreement will stimulate commerce and investment in the Andean region and provide new business opportunities for U.S. agriculture, industry and service providers,” observed Christman. “It will also backstop U.S. foreign policy goals of hemispheric security, rule of law and sound economic governance.”
U.S.-Colombia bilateral trade surpasses $9 billion annually, a figure roughly double U.S. trade with Argentina, Egypt, or New Zealand. U.S. exports to Colombia are especially strong in high-tech products and other manufactured goods. Colombia is also one of the 10 largest importers of such U.S. farm goods as corn and cotton.
The U.S. Chamber of Commerce is the world's largest business federation representing more than three million businesses and organizations of every size, sector and region.
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