US-Colombia FTA allows duty & quota-free access to textile markets
06 Dec '06
2 min read
John Veroneau with Jorge Humberto Botero
• Expanded access for U.S. providers to Colombia's services markets, such as in the financial sector;
• Greater protection in Colombia for intellectual property rights of such U.S. products as computer software, music and videos, and more protection for U.S. patents and trademarks; and
• More public access to Colombian government information about customs requirements.
Under trade promotion authority Congress either can approve or reject a negotiated trade agreement within time limits but may not amend the agreement.
In 2005, the United States was Colombia's largest trading partner with two-way goods trade between the two countries amounting to $14.3 billion.
Congress currently is considering a foreign aid funding bill for the fiscal year that began October 1 that would provide $704 million for anti-narcotics activities in the Andean Region, with most of the funds to go for efforts in Colombia.
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