How is the FTA between Colombia and the United States doing?
Six years after its entry into force, the Externado de Colombia considers it important to open a space to talk about this subject.
The Externado de Colombia University and the Coordination area of the Certification in Global Trade with emphasis on FTAs, held a discussion meeting to analyze the benefits and disadvantages of this trade agreement.
The event featured participation by Ángela María Orozco Gómez, former Foreign Trade Minister, and just recently appointed Minister of Transportation by the Duque administration, and Professor Beethoven Herrera Valencia, numerary member of the Colombian Academy of Economic Sciences.
Dr. Orozco put the topic in context, mentioning that initially, Colombia obtained the approval of the Andean Tariff Preferences Act (ATPA) after efforts to extend it, in 2011, and how the FTA with the United States began to take shape promoting major changes in trade policy.
For his part, Professor Herrera responded to the question from moderator Angélica Cruz regarding the constraints experienced by entrepreneurs to take advantage of the FTA, among which he highlighted the new Trump Government.
“We are in a difficult context, and the panorama facing President Donald Trump’s policies leaves many uncertainties, as it is evident countries are not on track with the American President’s mentality,” he added.
Dr. Angela María Orozco reiterated her position in favor of the FTA, and pointed out that the implementation of this agreement has impacted the economic sector positively; for example, she stressed the entry of major Colombian companies into the Multilatinas Ranking.
The event offered an opportunity for exchange of ideas between the speakers, allowing taking stock of what this FTA has meant and the challenges facing the country in this matter.