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UTAH

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, Utah 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 $12 MILLION IN 2010, COLOMBIA IS UTAHS 44TH LARGEST EXPORT MARKET

Total Utah Exports to Colombia


(millions of dollars)


Source: U.S. Department of Commerce

Upon implementation of the CTPA, more than 46 percent of Utahs exports to Colombia will be duty free. This tariff elimination gives Utah exporters a cost advantage of up to $600,000 over s imilar products exported by competitors who do not have an F TA with C olombia. While Utah 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 Utah exporters.

Estimated Increases in U.S. Exports in Sectors Important to Utah Misc. Manufactures Fabricated Metal Products Primary Metals Processed F oods Chemicals Transportation Equipment 60.1% 56.4 44.3 36.2 22.6 16.1

Source: U.S. International Trade Commission

Value of Exports Potential Product to Colombia (2010) Duty Savings Medical X-rays $973,000 $97,300 Drilling machinery 805,000 80,500 Medical needles 476,028 23,801 Beauty & skin care products 240,140 48,028 Boring machinery 220,000 22,000 Electro-diagnostic a pparatus 194,654 19,465 193,226 up to 19,323 Dental equipment Boring machinery parts 187,937 18,794 Lifting & loading machinery 180,000 27,000 Parts for liquid pumps 175,113 up to 17,511 COMPANIES WHOSE EXPORTS BECOME DUTY FREE IMMEDIATELY UPON IMPLEMENTATION OF CTPA JBT Aerotech Jetway Systems, Ogden, exports pneumatic tires to Wheeler Machinery, Salt Lake City, Colombia that face tariffs of 15 exports excavators to Colombia that percent. face tariffs of 10 p ercent. Cytozyme Laboratories, West Salt Lake City, exports chemical products AC Med, Salt Lake City, exports to C olombia that face tariffs of up to hospital b eds to Colombia that face 5 percent. tariffs of 20 p ercent. Expeditors Intl., Salt Lake City, exports fertilizers to Colombia that face tariffs of 5 percent.

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

10 UTAH EXPORTS THAT CTPA WILL MAKE DUTY FREE IMMEDIATELY