United States-Colombia Trade Promotion Agreement Pays Dividends to American Farmers and Exporters
The United States-Colombia Trade Promotion Agreement (CTPA) entered into force on May 15, 2012, laying the foundation for a surge in U.S. agricultural exports. Since 2012, U.S. agricultural exports to Colombia nearly tripled from $1.1 billion to $2.9 billion in 2018. Despite its geographic proximity to major U.S. competitors Brazil and Argentina, Colombia, the third-largest economy in South America, purchases half of its agricultural imports from the United States. Preferential access from CTPA and a strong Colombian economy have allowed the United States to increase its market share from 19 percent prior to CTPA, to 50 percent in 2018. Changing demographics, a growing middle-class, and consumer trends toward more modern retail outlets is expected to keep demand strong into the future for high-quality U.S. agricultural exports.
Colombian Macro-economic Trends and Changing Demographics
In addition to CPTA, political stability and a dynamic economy have contributed to Colombia becoming the United States’ 12th-largest destination for agricultural exports, up from...
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