Wheat Industry Welcomes Implementation of U.S.-Colombia Trade Agreement
USAgNet - 04/17/2012
The U.S. wheat industry welcomes the announcement by U.S. President Barack Obama and Colombian President Juan Manuel Santos that the countries will implement the U.S.-Colombia free trade agreement (FTA) on May 15. The U.S.-Colombia FTA is vital to the wheat industry's efforts to rebuild market
share in one of the largest markets for U.S. wheat in South America.
Implementation of the FTA will eliminate all tariffs on U.S. wheat imports into Colombia. The agreement creates a level playing field for U.S. wheat farmers, as export competitors Canada and Argentina already enjoy duty-free access to the market.
"We are extremely pleased to see this FTA set for implementation," said Alvaro de la Fuente, U.S. Wheat Associates (USW) regional vice president for South America. "Our extensive efforts over the nearly six years since the agreement was first signed have finally become a reality and U.S. wheat exports will
now compete on an equal basis with other major exporters."
Colombia is currently the second largest destination for U.S. wheat in South America. In marketing year 2010/11, Colombia imported about 800,000 metric tons of U.S. wheat from five of the six U.S. wheat classes.
The implementation of the FTA will help the United States regain the market share lost this year after the Canada-Colombia FTA went into effect on Aug. 15, 2011.
