Press Release

Statement of Commerce Secretary Carlos M. Gutierrez on the Signing of the United States-Colombia Trade Promotion Agreement

WASHINGTON—Commerce Secretary Carlos M. Gutierrez today released the following statement on the signing of the United States-Colombia Trade Promotion Agreement:

"I am very pleased that the U.S.-Colombia Trade Promotion Agreement (TPA) was signed today.

"The Colombia TPA is a comprehensive free trade pact that will enhance economic growth and prosperity for the people of the United States and Colombia and is a key part of this Administration’s global effort to open markets for American exporters around the world. The Colombia TPA linked with our other agreements with our neighbors shows that the U.S. is engaged in opening markets and strengthening democracy in our hemisphere while creating jobs at home and abroad.

"Here at home, the agreement will generate new export opportunities for U.S. agriculture, industry, service providers and workers. In Colombia, the agreement will attract new investment, create jobs and raise living standards in a region that is making commendable strides toward peace and economic prosperity. Perhaps more importantly, this agreement will advance our common national security interests by fostering economic growth and strengthening democratic institutions. It will also advance what is already a strong friendship with the people of Colombia.

"I look forward to consulting with Congress as the process moves forward and thank the negotiators on both sides, especially Ambassador Susan Schwab who has worked so diligently to forge this historic agreement."

Background:
In May 2004, the United States initiated negotiations with three Andean nations--Peru, Peru, Colombia and Ecuador. Talks with Peru concluded on December 7, 2005 and negotiations with Colombia concluded on February 27, 2006.

In 2005, U.S. goods exports to Colombia were $5.4 billion, up from $4.5 billion the previous year. Two-way trade in 2005 exceeded $14 billion. Major U.S. exports to Colombia include industrial machinery, corn, wheat, soybeans, and organic chemicals. Colombia's major exports to the U.S. include mineral fuels, cut flowers and woven apparel.