RILA support for US-Colombia trade agreement

The Retail Industry Leaders Association (RILA) has praised the announcement by President Barack Obama and US Trade Representative Ron Kirk that the US-Colombia Trade Promotion Agreement will enter into force on May 15, 2012.

‘RILA and our members are delighted to see that the benefits of the US-Colombia Trade Promotion Agreement will finally be realized next month. We applaud President Obama and US Trade Representative Ron Kirk for their work to implement this long-anticipated trade promotion agreement,’ said Stephanie Lester, vice president of international trade.

‘The Colombia FTA will benefit retailers by bringing certainty and stability to the trade relationship between the United States and Colombia,’ Lester concluded.

Colombia already has duty-free access to the United States for most goods under unilateral US trade preference programs, although those programs have been plagued with uncertainty caused by expirations and short-term extensions. When implemented on May 15, the Colombia FTA will provide certainty for US importers and also eliminate most of the duties Colombia now imposes on American exports of agricultural and manufactured goods.

Obama and Kirk were in Colombia for the Summit of the Americas. The announcement comes after each country confirmed completion of its applicable legal requirements and procedures for the Agreement’s entry into force. 

RILA members include more than 200 retailers, product manufacturers and service suppliers, which together account for more than USD $1.5 trillion in annual sales, millions of American jobs and more than 100,000 stores, manufacturing facilities and distribution centers domestically and abroad.