Rep. Mario Diaz-Balart (R-FL) applauds the enforcement of the U.S.-Columbia Free Trade Agreement (FTA), which went into effect yesterday. With the United States already standing as Colombia's largest trading partner, and Colombia is the United States' third-largest export market in Latin America, the FTA will help to expand the economies of both countries. Colombia is a friend and a staunch ally to the United States, and the FTA will only make the relationship stronger. With the FTA, it has been estimated the exports of U.S. goods will expand by $1.1 billion, which increase the number of jobs in the United States by thousands. The Agreement is also expected to increase U.S. GDP by $2.5 billion, and will eliminate nearly all remaining tariffs on trade with Colombia within 15 years.
Diaz-Balart commented the following on the seven months it took for the FTA to be approved by President Obama: "Unfortunately, President Obama's delay of the FTA cost the U.S. market share and thousands of jobs. I want to again thank Speaker Boehner and Ways and Means Chairman Camp (R-MI) and Trade Subcommittee Chairman Brady (R-TX) in making the Agreement a reality, despite President Obama's obstructionism."