CUELLAR WELCOMES LONG AWAITED COLOMBIA FREE TRADE AGREEMENT
Written by Post Public Information Representative, Apr 9, 2011, 0 Comments
Courtesy Jose Borjon,
Agreement will create jobs in Texas, drive the economy
Washington, D.C. – Congressman Henry Cuellar (TX-28), Chairman of the Congressional Pro-Trade Caucus, applauded the agreement reached by the United States and Colombia on the Colombia Free Trade Agreement. The deal allows the United States to move products and goods freely to Latin American countries.
President Obama welcomed Colombian President Juan Santos yesterday at the White House and the two took part in conversations over the trade agreement.
“This agreement will create American jobs and continue our burgeoning economic growth,” Cuellar said. “Increasing trade not only provides American families with more affordable goods and services – it will also help services and manufacturing sectors drive job creation, estimated to increase domestic product by $2.5 billion. Exports in the first half of last year alone supported 10 million jobs and brought in $890 billion. Today, we live in a global market that is only growing larger.”
The Colombia Agreement is unique in that 90% of Colombian goods already enter the U.S. duty free. When the Colombia Free Trade Agreement is fully implemented, Colombia will immediately eliminate most of its tariffs on U.S. exports, with all remaining tariffs phased out over 10 years time. With average tariffs on U.S. exports ranging from 7.4 to 14.6 percent, this will substantially increase U.S. exports.
During the 110th Congress, Congressman Cuellar was one of 10 Democrats to vote against a resolution that delayed the consideration of the Colombia Free Trade Agreement.
“I have long awaited the announcement of the Colombia Free Trade Agreement and will work with Congress and the Executive Branch to move swiftly on its implementation,” Cuellar said. “This agreement with the United States ensures our country remains competitive on a global front – with countries like China and the European Union, which have sought partnerships with Colombia.”
Recently, Chinese and European investors have visited Colombia to discuss building a city of as many as 250,000 people south of Cartagena. The city would include an industrial park to manufacture products for export throughout the Americas. The meeting between President Obama and Colombian President Santos is a step toward the U.S. joining other trade leaders who have deemed exports an important way to grow and sustain an economy.
Congressman Cuellar, a long time supporter of trade, founded the bipartisan Congressional Pro-Trade Caucus (CPTC) in 2009. The CPTC is dedicated to building a bi-partisan coalition to advance international trade policy that keeps America competitive in the world.
