The United States is Colombia’s largest trading partner, accounting for 34 percent of Colombia’s total trade, and Colombia is a top ten supplier of crude oil to the United States. Meanwhile, Colombia is the fifth-largest export market in the Western Hemisphere. The U.S.-Colombia Trade Promotion Agreement aims to improve the investment environment, eliminate tariffs and other barriers to U.S. exports, expand trade, and promote economic growth for both countries. The International Trade Commission (ITC) estimated that the tariff reductions in the Agreement will expand exports of U.S. goods alone by more than $1.1 billion, supporting thousands of additional American jobs. The Agreement provides significant new access to Colombia’s $166 billion services market, supporting increased opportunities for U.S. service providers. Colombia is a fast-growing market of 45 million consumers, and the Agreement will help strengthen the Colombian economy and promote its growing middle class, thereby bolstering a steadfast strategic partner in this Hemisphere. The Agreement helps cement our broader relationship with a country that plays an increasingly important role in the region and around the world.
About Free Trade Agreements with Colombia