Exporters from Colombia and Peru are hopefully waiting for the US legislative approval on pending free trade treaty.
Duty free textile export to the US from Colombia amounted to $600 million in last year. But at present, reverse scenario is seen as Colombia's textile industry has been facing stiff competition, moreover unilateral trade privileges expire and 18 percent tariffs are restored.
Colombian President Alvaro Uribe has urged the US to restart those expired privileges to assist country's economy as Colombia is the loyal partner of the US in Latin America.
Peru has assured to pay tariffs if the free trade agreement is not passed and current trade preferences are not extended.
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