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Evidencia 11 Actividad 3: ensayo “free trade agreement ( FTA ): advantages and disadvantages”

Luis Guillermo Arango gonzalez Negocios internacionales 2018

free trade agreement ( FTA ): advantages and disadvantages

Let's begin by explaining when the free trade agreement between Colombia and the United States was signed, this process took place in November 2006, in Washington and Colombia, the agreement was approved in the Congress of the Republic in June 2007 and a month later the President Of the Republic sanctioned law 1143 that gave him life. In July 2008 the Constitutional Court found it adjusted to the constitutional order, as well as the "modification Protocol" of the same agreement, signed in Washington In June 2009 It entered into force on May 15th, 2012. This was established between the presidents of Colombia, Juan Manuel Santos, and of the United States, Barack Obama, during the Summit of the Americas, in Cartagena, where the corresponding exchange of letters between the two governments was carried out It should be stressed that the free trade agreement with the United States today appears as the best and most viable option that our country has in the context of international integration

The U.S. FTA is important to Colombia, because it allows Colombian entrepreneurs to place their products in permanent privileged conditions in the world's largest market because the U.S. has about 314 million consumers In addition, this country is Colombia's main trading partner and the increase in bilateral trade will generate more employment and higher incomes and Colombian products have permanent and barrier-free access to markets in industrialized countries We should not forget that countries similar to ours, such as Chile, Mexico, Peru and Central Americans, have already signed treaties with the United States and we cannot stay behind There are a total of 59 products of 350 that conquered the North American market and have been able to take advantage of the FTA The Ministry of Commerce says that in the first five years of the FTA with the United States has been positive because 8,700 different companies exported their products to that country. In addition, something very important of this agreement is that before its start up there were only 5,670 products with tariff items and today there are more than 10.63, generating with this

stability and confidence because the tariff benefits no longer depend on the decisions of Congress A specific benefit of NAFTA is that entrepreneurs can negotiate with a longer term, which allows them to plan and better distribute resources, although it must be clear that the trade balance with the United States has gone from positive to negative, due to the fall of the World trade. American trade has many opportunities for the commercialization of cosmetics, clothing, girdles and underwear