Smith Meets with Colombian Trade Delegation

Press Release

Congressman Adrian Smith (R-NE) today met with a delegation of Colombian business leaders to discuss the importance of trade and bilateral relations between Colombia and the United States - including passage of the U.S.-Colombian Trade Promotion Agreement.

Over the past six years, Colombia has transformed itself into a stable democracy with a growing economy. In 2007, Colombia's economy saw the largest growth rate in nearly three decades.

More than 90 percent of imports from Colombia enter the United States duty-free, but exports to Colombia face tariffs of up to 35 percent, with rates even higher for some agricultural products.

Once the U.S.-Colombia agreement is in effect, Colombia will eliminate tariffs on more than 80 percent of U.S. exports of industrial and consumer goods immediately and 100 percent of U.S. exports over time.

On April 10, 2008, the House of Representatives considered a resolution to suspend fast track procedures for the U.S.-Colombia Trade Promotion Agreement. The measure passed, indefinitely prolonging action on the trade deal's implementation.

"Today's meeting was informative, as well as telling for the potential market impact. Fair trade is vital to Nebraska's economy. Colombia remains a strategic ally and a tremendous untapped market for American goods. We need to level the playing field for all of America's producers. Workable trade policies promote cooperation between nations and helps ensure America's competitiveness in the world's increasingly growing marketplace," Smith said.

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