NEW

YORK AND COLOMBIA A GROWING PARTNERSHIP

A U.S.-Colombia Trade Promotion Agreement (CTPA) has the potential to increase both trade and investment between the United States in Colombia, improving on an already strong relationship. In particular, New York stands to gain from increased business ties, as the CTPA will create jobs at home through increased export market access for both goods and services, reduced prices for manufacturers, and an improved investment environment. AT $168 MILLION IN 2010, COLOMBIA IS NEW YORKS 39TH LARGEST EXPORT MARKET

Total New York Exports to Colombia

(millions of dollars)

Source: U.S. Department of Commerce

Upon implementation of the CTPA, more than 57 percent of New Yorks exports to C olombia will be duty free. This tariff elimination gives New York exporters a cost advantage of up to $9.8 million over similar products exported by competitors who do not have an F TA with C olombia. While New York exporters typically face tariffs of 10- 15 percent, 94 percent of Colombias exports to the United States in 2010 entered duty free. C TPA would level the playing field for New York exporters.

Estimated Increases in U.S. Exports in Sectors Important to New York Misc. Manufactures Fabricated Metal Products Processed F oods Chemicals Machinery Computers & Electronics 60.1% 56.4 36.2 22.6 14.9 8.0

Source: U.S. International Trade Commission

 Value of Exports Potential Product to Colombia (2010) Duty Savings Wood presses $6,342,000 $634,200 Vaccines 5,310,000 265,500 Digital processing units 4,587,384 458,738 Wheat 4,430,565 up to 575,973 Parts for derricks 4,367,064 218,353 Insecticides 4,110,800 411,080 4,093,921 614,088 Gas purifying machinery Primary silicones 4,000,601 up to 600,090 3,769,620 up to 376,962 Printer, copier, and fax machine parts Cell phones 3,749,874 up to 562,481 COMPANIES WHOSE EXPORTS BECOME DUTY FREE IMMEDIATELY UPON IMPLEMENTATION OF CTPA Carrier Corporation, S yracuse, Momentive Performance, Waterford, exports machinery to Colombia that exports primary silicones to Colombia faces tariffs of 5-10 p ercent. that face tariffs of 5-15 p ercent. ICD America LLC, New Rochelle, Exxon Mobil Chemical Films exports chemical products to International, Macedon, exports Colombia that face tariffs of 5-15 plastic film sheeting to Colombia that percent. faces tariffs of 20 p ercent. Rich Products, Buffalo, exports
baking mixes to Colombia that face tariffs of 20 p ercent.

10 NEW YORK EXPORTS THAT CTPA WILL MAKE DUTY FREE IMMEDIATELY

Jordan Trading, Kingston, exports waste paper to Colombia that faces tariffs of 5 p ercent. Baxter Healthcare, New York, exports medical products to Colombia that face tariffs of 5-10 p ercent.

Contact: David Thomas, Director, Public Policy, Business Roundtable 202.496.3262, dthomas@brt.org