Posted by Simon Willis on Nov 20, 2012 Leave a comment

Colombia free trade pact ‘showing good results’: US

The Free Trade Agreement (FTA) between Colombia and the U.S. showed positive results for both countries since May, according to U.S. Trade representative Ron Kirk.

Following a bilateral trade meeting, Ron Kirk revealed that the agreement, which came into effect on May 15, has created more opportunities for exporters of both countries.

“Everything indicates that the agreement had a successful start,” said Kirk. “The exporters of both countries have begun to take advantage of new opportunities.”

According U.S. government figures, exports to Colombia increased 20% between May and September, compared with the same period of 2011.

“Our statistics show that trade has increased in both directions: a classic win-win situation,” added Kirk.

In September it was announced that Colombia’s export sales to the US grew by 10.4% during the first three months of the agreement which was agreed in 2006 yet not ratified until May 2012.