Senator McCain Urges Quick Approval of Colombia FTA
Statement
SENATOR McCAIN URGES QUICK APPROVAL OF COLOMBIA FTA
U.S. Senator John McCain (R-AZ) today released the following statement about the U.S.-Colombia Free Trade Agreement (FTA):
"Today, President Bush signed a letter of transmission that will formally send the United States-Colombia Free Trade Agreement to Congress for approval. I strongly support this vital trade pact and urge my colleagues to support its swift passage.
"The economic case for passing the Colombia FTA is compelling. Some ninety percent of Colombian imports already enter the American market duty free, while many U.S. exports to Colombia continue to face tariffs - some as high as 35 percent - which restricts Americans' ability to sell goods in Colombia. Immediately upon implementation, eighty percent of U.S. consumer and industrial goods will gain duty free access to the Colombian market. By enacting this measure, we will level the playing field for American companies, benefitting thereby thousands of American workers and farmers. Further, the U.S. International Trade Commission projects that the FTA will increase U.S. exports to Colombia by some $1.1 billion annually.
"While the economic case is clear, the strategic rationale for the Colombia FTA is, if anything, even more compelling. Colombia has for years confronted violence, terror, and an ongoing battle against drug traffickers. By boosting jobs and economic alternatives to violence in Colombia, the FTA will help build on the remarkable progress that country has made under President Alvaro Uribe. Its passage will signal U.S. support for a key ally going through difficult times, and demonstrate strong and vital American leadership in Latin America at a moment when Hugo Chavez and others are seeking to test it.
"Strengthening our strategic relations with allies in Latin America is an urgent priority of American foreign policy. This free trade agreement will be an important benchmark in our relations with Colombia and our commitment to the region. I urge all of my colleagues to support it."
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