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The U.S.–Colombia Trade Promotion Agreement was signed on November
22, 2006. This comprehensive trade agreement will eliminate tariffs and
other barriers to goods and services, promote economic growth, and
expand trade between the two countries.
Colombia is already an important market for America’s farmers and
ranchers. In 2008, the United States exported a record $1.67 billion
of agricultural products to Colombia. Our top exports to the market
were corn, wheat, soybean and soybean products, corn gluten feed,
and cotton.
With the Agreement in place, agricultural trade between the
United States and Colombia will change from a one-way street to a
two-way street since virtually all food and agricultural products
from Colombia already enter the United States duty-free.
Many agricultural commodities will benefit from the agreement as
more than half of current U.S. farm exports to Colombia will become
duty-free immediately and the remaining tariffs will be eliminated
within 15 years.
o
Colombia will immediately eliminate duties on
wheat, barley, soybeans, soybean meal and flour, high
quality beef, bacon, almost all fruit and vegetable
products, wheat, peanuts, whey, cotton and the vast majority
of processed products.
o
The agreement also provides duty-free tariff
rate quotas on standard beef, chicken leg quarters, dairy
products, corn, sorghum, animal feeds, rice, and soybean
oil.
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Yellow Corn. In 2008, the United
States exported $591 million of yellow corn to Colombia.
Under the agreement, Colombia will provide immediate
duty-free access through a 2.1-million ton TRQ with 5
percent annual growth. Colombia will phase-out the
out-of-quota tariff of 25 percent over 12 years.
o
Wheat and Barley. In 2008, the
United States exported $330 million of wheat and barley to
Colombia. Under the agreement, Colombia’s tariffs on all
wheat and wheat products, as well as all barley and barley
products will be immediately eliminated.
o
Soybeans and Soybean Products. In
2008, the United States exported $288 million of soybeans
and soybean products (cake and meal, oil) to Colombia. Under
the agreement, Colombia will immediately eliminate tariffs
on soybeans and soy meal and flour.
o
Corn Gluten Feed and Meal. In
2008, the United States exported $63 million of corn gluten
feed to Colombia. Under the agreement, Colombia will
immediately eliminate the tariff on industrial use starch
residues.
o
Cotton. In 2008, the United States
exported $67 million of cotton to Colombia. Under the
agreement, Colombia will immediately eliminate cotton
tariffs.
On the regulatory side, Colombia has put in place OIE-consistent
import measures on meat and poultry and addressed other SPS and
technical standards issues. Colombia has agreed to recognize the
equivalence of the U.S. meat and poultry inspection systems.
In addition, the Agreement commits the United States to
prioritizing Colombia for trade capacity building programs to assist
Colombia in fully benefiting from this new partnership.
The American Farm Bureau Federation predicts that this agreement,
once fully implemented, could provide $690 million in gains each
year for American agriculture. In addition, the free trade agreement
with Colombia is supported by over 40 U.S. agricultural and food
associations.
For questions about the U.S.-Colombia Trade Promotion Agreement and
its impact on U.S. agriculture, please contact FAS Legislative and
Public Affairs Office at (202)720-7115 or LPA@fas.usda.gov.
U.S.-Colombia Trade Promotion Agreement Page
