Date: October 1, 2010
Creator: Villarreal, M. Angeles
Description: 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. In his January 2010 State of the Union address, President Barack Obama called for 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 Colombia, Korea, and Panama with the objective of moving forward with the pending FTAs at the appropriate time. There is currently no indication that the 111th Congress will consider implementing legislation for the proposed U.S.-Colombia FTA.
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