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NFTC Says Implementation of Colombia-Canada FTA Underscores Sense of Urgency for Congress to Act on Trade Agenda ASAP in September
Date: 8/15/2011
Written By: Jennifer Cummings, The Fratelli Group for NFTC, (202) 822-9491

Washington DC – With the official implementation of the Colombia-Canada Free Trade Agreement (FTA) today, the National Foreign Trade Council (NFTC) urged the Administration and Members of Congress to immediately take action on the pending FTA with Colombia, the FTAs with Korea and Panama, Trade Adjustment Assistance (TAA), the Andean Trade Preference Act and the Generalized System of Preferences, when Congress returns to Washington in September. The NFTC released the following statement:

"The Colombia-Canada agreement was signed in 2008, almost two years to the day after the U.S. signed its agreement with Colombia. As a result of our delay, the United States has put itself at risk of losing even more market share in a growing, dynamic economy, ultimately stunting U.S. economic growth and job creation at a time when we desperately need both," said NFTC President Bill Reinsch. "To increase our exports and get Americans back to work, politics must be put aside in September and bipartisanship and reason must prevail. Passing the Colombia agreement, as well as the Panama and Korea FTAs, should be the top legislative priority following recess. They are all ready to go, as are the preference programs and TAA, so we urge lawmakers to make them all a reality ASAP."

"Canada is one of our biggest competitors, particularly with respect to agricultural and machinery, chemical and paper product exports. Canada's new trade partnership with Colombia will give Canadian exporters an economic advantage in Colombia, putting at risk the gains U.S. companies, farmers and ranchers could be making if the U.S.-Colombia FTA was approved and implemented," said NFTC Vice President for Regional Trade Initiatives Chuck Dittrich. "The Colombian, Panamanian and Korean markets are all central to the growth of U.S. goods and services exports. As the recent trade balance shows, we are falling behind in exporting to the 95 percent of world consumers who live outside of the United States, so we urge Congress and the Administration to work together to take action on trade immediately after the recess ends."
 
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About NFTC
Advancing Global Commerce for Nearly A Century- The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.
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