ABSTRACT

Proposed U.S.-Columbia Free Trade Agreement: Background and Issues [April 12, 2011]   [open pdf - 316KB]

"The proposed U.S.-Colombia Trade Promotion Agreement, also called the U.S.-Colombia Free Trade Agreement (CFTA), is a bilateral free trade agreement between the United States and Colombia which, if ratified, would eliminate tariffs and other barriers in goods and services between the two countries. The CFTA negotiations grew out of a regional effort in 2004 to produce a U.S.-Andean free trade agreement (FTA) between the United States and the Andean countries of Colombia, Peru, and Ecuador. After numerous rounds of talks, negotiators failed to reach an agreement, and Colombia continued negotiations with the United States for a bilateral FTA. On February 27, 2006, the United States and Colombia concluded the U.S.-Colombia FTA, and finalized the text of the agreement on July 8, 2006. On August 24, 2006, President Bush notified Congress of his intention to sign the U.S.-Colombia FTA. The two countries signed the agreement on November 22, 2006. The Colombian Congress approved the agreement in June 2007 and again in October 2007, after the agreement was modified to include new labor and environmental provisions. On April 8, 2008, President George W. Bush submitted implementing legislation for the United States-Colombia Trade Promotion Agreement Implementation Act (H.R. 5724/S. 2830) in the 110th Congress. [...] The 112th Congress may consider implementing legislation for the proposed U.S.-Colombia FTA. In his January 2011 State of the Union address, President Barack Obama mentioned his intent to 'strengthen' U.S. trade relations with Colombia. In 2010, the Administration initiated a new National Export Initiative (NEI) to boost U.S. exports and create jobs. One component of the NEI calls for opening new markets for U.S. exports by resolving outstanding issues with three pending FTAs at the appropriate time."

Report Number:
CRS Report for Congress, RL34470
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Publisher:
Date:
2011-04-12
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Copyright:
Public Domain
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pdf
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application/pdf
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