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December 2, 2022
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Government outlines agenda to review the FTA with the United States

'A stupidity', Duque to candidates' proposals to renegotiate FTA

The National Government is already preparing an agenda to negotiate with their peers in the United States those points in which they consider that the country is in commercial inequality with its main economic partner, one of the proposals that were made in the presidential campaign.

(Read: Colombia could be like the US but ‘institutions do not allow it’).

Colombia has already presented its letters, based on four axes, and the dialogues would take place in 2023in the framework of the response of the American committee, which is yet to come.

Bilateral trade between Colombia and the United States has left a trade balance favorable to Washington in the first seven months of the year.

According to data from the National Administrative Department of Statistics (Dane), Colombian exports to that country totaled US$11,386.1 million in this period, while imports were for US$14,142 million, which results in a trade deficit of US$2,755.8 million, more than double that registered in the same period of 2021 (US$1,134.2 million).

Meanwhile, sales of mining-energy products totaled US$5,161.4 million during this time, a drop of 9% versus 2019, while in non-mining-energy products, they totaled US$5,756.4 million, a rise of 58.2% compared to the pre-pandemic year.

The letters from Colombia were made official by the Minister of Commerce, Industry and Tourism, Germán Umaña, and his team, in a bilateral meeting on October 25.

(Read: The fall in the dollar is not enough to reach minimum prices for the year).

This proposal, as mentioned, is based on four axes: access to markets, rules of origin, investment and intellectual property.

These points were structured in turn in relation to two key points, the first being the improvement of the exportable offer and market participation; while the second is to strengthen the productive capacity of the country.

There is a balance and strengthening task. Regarding the first, we expressed important issues such as access to markets, such as improving cumulative origin. And we ask you to review restrictive measures, such as in the steel sector”, explained Minister Germán Umaña, in dialogue with Caracol Radio.

Umaña explained that all these dialogues are carried out within the framework of whats respective committees stipulated within the agreement and “in a tone of respect.”

The head of the commercial portfolio ratified that in 2023 the bilateral dialogue tables will be held and specified that the figure of Congress sIt would only be acting when a possible renegotiation of the treaty takes place, but he emphasized that this idea is ruled out.

In this way, the national government is already advancing its plans for the talks with one of the trade agreements to which it announced that it would put the magnifying glass, while they are already moving the threads for the evaluation dialogues to other strategic treaties such as that of Mexico and the European Union.

(In addition: They launch a fund for US$1.720 million to attend to Venezuelan migration).

With these two territories, according to the most recent Dane bulletin (September) there is also a significant trade deficit. Compared to the Aztec country, the imbalance so far this year is US$1,717.5 million, due to purchases of US$2,999.3 million and sales of US$1,281.7 million. As for the European bloc, the deficit is US$1,959.7 million, with purchases for US$7,705.7 million.

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