Colombia Free Trade Agreement

For EFTA-Colombia trade statistics, see AELE Trade Statistics Tool If you have any questions or comments on this free trade agreement or on environmental cooperation and working agreements, we would like to hear from you. Please contact Global Affairs Canada at: Trade remedies are in Chapter 2 and refer to WTO law. Free-form certification of Colombian and U.S. importers can be used as an alternative to the original certification model when they claim that their products comply with Colombian TPA requirements. The agreement was then subject to constitutional judicial review, in accordance with Colombian rules. The agreement was deemed in accordance with the Colombian Constitution by the Colombian Constitutional Court in July 2008. [9] In May 2004, the United States began negotiations for a free trade agreement with Colombia, Peru and Ecuador. The United States concluded negotiations with Colombia in February 2006 and the CTPA was signed on November 22, 2006. After the two countries negotiated an amendment protocol on the basis of an agreement between parties on the basis of the „new trade policy and presentation“, which was signed on 28 June 2007. Detailed provisions on trade facilitation are contained in Appendix VII. President Obama asked the U.S. Trade Representative`s office to address the outstanding issues of the agreement; [9] However, during a visit by Colombian President Uribe in June 2009, Obama said he did not have a „strict timetable“ for the agreement, as the controversy over the security of Colombian leaders persists.

[11] The refusal of the U.S. Congress to obtain approval of the Colombian Free Trade Agreement has had a negative impact on bilateral relations between the two nations. [12] The agreement provides for tariff concessions for processed agricultural products. Tariff concessions for certain agricultural commodities are covered by bilateral agricultural agreements, which are part of the instruments for creating a free trade area between the contracting parties. The U.S.-Colombia Trade Agreement (TPA) came into force on May 15, 2012. The TPA is a comprehensive free trade agreement that eliminates tariffs and removes barriers to U.S. services, including financial services. It also includes important disciplines in the areas of customs management and trade facilitation, technical barriers to trade, public procurement, investment, telecommunications, e-commerce, intellectual property rights, labour protection and the environment. The International Trade Commission (ITC) estimates that tariff reductions in the TPA, if fully implemented, will increase exports of U.S.

products alone by more than $1.1 billion and support thousands of additional U.S. jobs. The ITC also predicted that the TPA would increase U.S. GDP by $2.5 billion if fully implemented. The EFTA-Colombia Free Trade Agreement focuses mainly on the liberalization of trade in goods. Other agricultural agreements between the different EFTA states and Colombia are an integral part of the instruments for creating a free trade area. The Investment Chapter (Chapter 5) aims to improve the legal environment for EFTA and Colombia companies investing in the other country`s markets, including by granting non-discriminatory establishment and operating rights (commercial presence) in sectors not covered by the trade in services. 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.