| 7,705 Great Reasons
The U.S.-Colombia Trade Promotion Agreement
is a big deal for small business
More than 9,112 U.S. companies export their products to Colombia, which is one of Latin America's most dynamic growth markets. Of this total, 7,705, or nearly 85%, were small and medium-sized companies. These so-called SMEs exported nearly $1.7 billion worth of merchandise to Colombia in 2005.
There is a way to further accelerate small business export growth to Colombia and the region. The U.S.-Colombia Trade Promotion Agreement will create opportunities for smaller U.S. firms in ways that go far beyond just cutting tariffs. They will eliminate non-tariff barriers, open services markets, and provide procurement opportunities to America's small businesses. Consider these testimonials from firms that export to Colombia:
''Sometimes we lose business to companies from other countries that pay zero duty. Passage of a free trade agreement with Colombia will make us more competitive and allow us to sell more U.S. products.''
Alfredo Sansore: Vice President International
A&K Railroad Materials - Houston, TX and Salt Lake City, UT
Number of U.S. employees: 350
Years of Involvement in Colombia: 26
Major Products Sold to Colombia: Rails and Track Materials for Railroad, Mine, and Crane Applications
''A free trade agreement with Colombia will have a positive impact on our business. Anything that supports expanded free trade is good for our company and our employees in Baltimore.''
Ernesto Escola
Manager: International Sales
Ellicott Division of Baltimore Dredges, LLC - Baltimore, MD
Number of U.S. Employees: 60
Years of Involvement in Colombia: more than 60
Major Products Sold to Colombia: Cutter Suction Dredges
''Overall, our relationships with Colombia may be small, but the country provides a niche market that we have enjoyed for many years. As a company, we want to keep the trade lanes as open as possible so that business can continue to grow.''
Peter Johnstone:
Chairman, President, and General Manager
Spokane Seed Company - Spokane, WA
Number of U.S. Employees: 45
Years of Involvement in Colombia: 50
Major Products Sold to Colombia: Dried Green Peas, Lentils, and Yellow Peas
''We have found that the current import regulations and paperwork take a long time to overcome. The end users in Colombia want high-quality U.S. branded products. Eliminating existing trade barriers will allow us to meet those demands and grow our business.''
Gerald W. Smith:
President
Transcon Trading Company, Inc. - Irmo, South Carolina
Number of U.S. Employees: 15
Years of Involvement in Colombia: 18
Major Products Sold to Colombia: Equine and Small Pet-Related Products
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|  | |  | | Did you know?
| | | Colombia's minimum wage is among the highest in Latin America. Wages are determined on a yearly basis with input from workers, employers and unions, and must exceed annual inflation. Last year, the minimum wage increase was 1.8% above inflation. In the last five years the increase in minimum wage surpasses inflation by 8%.
Embassy of Colombia
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| | | | Overheard
| | | ''Offering the Colombians anything less than access to economic growth would be unfair and damaging not only to them, but to us.''
-San Francisco Chronicle,
June 13, 2007
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