Colombia TPA Text: The full text of the agreement. Environmental protection obligations: Both sides have also committed to effectively enforcing their national environmental legislation and to enact, maintain and implement laws, regulations and other measures to meet their obligations under the multilateral environmental agreements covered. All environmental chapter obligations are subject to the same dispute resolution procedures and enforcement mechanisms as the commercial obligations of the APA. Chapter 4 on Trade in Services closely follows the approach of the WTO`s General Agreement on Trade in Services (GATS). It covers the four service providers within the meaning of the GATS and is aimed at all service sectors. The chapter on trade in services deals with general disciplines, while the annexes contain more specific provisions for certain sectors (financial services, Appendix XVI; telecommunications services, Appendix XVII). The trade provisions are contained in Chapter 2 and refer to WTO law. The U.S.-Colombia Trade Agreement (TPA) came into force on May 15, 2012. The TPA is a comprehensive free trade agreement that eliminates tariffs and removes barriers to U.S. services, including financial services.
It also includes important disciplines in the areas of customs management and trade facilitation, technical barriers to trade, public procurement, investment, telecommunications, e-commerce, intellectual property rights, labour protection and the environment. The International Trade Commission (ITC) estimates that tariff reductions in the TPA, if fully implemented, will increase exports of U.S. products alone by more than $1.1 billion and support thousands of additional U.S. jobs. The ITC also predicted that the TPA would increase U.S. GDP by $2.5 billion if fully implemented. The EFTA-Colombia Free Trade Agreement focuses mainly on the liberalization of trade in goods. Other agricultural agreements between the different EFTA states and Colombia are an integral part of the instruments for creating a free trade area. Why Colombia? Colombia is already a strong trading partner of the United States and has the potential to be an even more important place for business. Trade with Colombia offers increased economic opportunities for American producers, workers and farmers.
Colombia is a growing market for U.S. exporters and a good economic and political partner for the United States. In addition, our trade agreement with Colombia supports other U.S. trade and policy objectives in Latin America. The agreement provides tariff concessions for processed agricultural products. Tariff concessions for certain agricultural commodities are covered by bilateral agricultural agreements, which are part of the instruments for creating a free trade area between the contracting parties. If you have any questions or comments on this free trade agreement or on environmental and labour cooperation agreements, we would like to hear from you. Please contact Global Affairs Canada at: The Investment Chapter (Chapter 5) aims to improve the legal environment for EFTA companies and Colombian companies investing in other countries` markets, including non-discriminatory establishment and operating rights (commercial presence) in sectors not covered by the Trade in Services chapter.