U.S. manufacturing and agricultural exports to Colombia are on the rise, as the trade agreement between the two nations reaches its one-year mark, according to Acting U.S. Trade Representative Demetrios Marantis.
U.S. manufacturers have “substantially” increased exports of transportation equipment, petroleum and coal products, processed food and computer and electronic parts, while farmers and ranchers have seen “strong growth” in soybeans, wheat, grapes, pork and dairy products, Marantis said in a written statement.
“As we mark one year of expanded trade between the United States and Colombia, American businesses, farmers, ranchers and workers are already seeing tremendous benefits thanks to the lowering of barriers achieved by the U.S.-Colombia trade agreement,” Marantis said.
U.S. goods exports to Colombia totaled $15.9 billion from May 2012 through March 2013, increasing 20 percent compared with the same period prior to the deal’s entry into force. U.S. exports of agricultural products to Colombia were up nearly 62 percent from the comparable preceding 11-month period.