Dear Customers,
Now that the FTA (Free Trade Agreement) between the United States and Colombia went into effect, the quantity of the shipping between both countries is expected to increase substantially.
We already have rates and service for the route USA>COLOMBIA, if you need us to quote please email us or fill form on the link = http://www.tripled-logistics.com/requestquotebooking.html
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Miguel Rodriguez, who runs the Americas office of Mustad — a Norwegian fishing hook manufacturer — has been watching the progress of the U.S.-Colombia Free Trade Agreement closely even though it doesn’t affect his company directly.
While much of the attention on the newly minted trade pact has been focused on exports and imports, what piques Mustad’s interest are new investment opportunities in Colombia.
And that’s just fine with Colombians. At an event in Miami Tuesday — the day the trade pact went into effect — Proexport, a Colombia business development agency, was touting both Colombian exports and foreign investment opportunities in the Andean nation.
Part celebration, part seminar, the event marked what Carmenza Jaramillo, U.S. executive director of Proexport, called “an historic day for Colombia.’’ Proexport held similar events in eight other U.S. cities and in Puerto Rico.
“The stability, the opportunities, the 0 percent duties are starting today,’’ Jaramillo proclaimed.
The trade pact allows more than 1,100 Colombian products to enter the United States duty-free with tariffs on other products phased out over 10 years. More than 80 percent of U.S. industrial and consumer products and more than half of U.S. farm exports also have begun to enjoy duty-free access to the Colombian market. Tariffs on the remaining products will be phased out over the next 10-15 years.
The FTA creates rules of the game not only for trade but also for foreign investment. And that has made it more interesting for companies like Mustad, the world’s largest fish hook manufacturer.
The company does a lot of manufacturing in China, but as Chinese labor costs rise, it is analyzing other locations for possible new operations, said Rodriguez.
With it strategic location, economic stability, relatively low labor costs — and now permanent duty-free access to the United States, the world’s largest market, Colombia’s star is rising. It is “a nice opportunity we have now,’’ said Rodriguez.
Colombia also has logistical advantages compared to China for products entering the U.S. market, said Gabriel Duque, Colombia’s vice minister of trade, industry and tourism, in a video address shown at the Miami event.
A shipment from Shanghai to Miami, for example, takes 25 days, while a shipment from Colombia to Miami would be in transit for three days at a third of the cost, said Duque.
Among the most promising areas for investment, Duque said, are hotels and tourism, biofuels, auto parts and building materials. Colombia also has prioritized its agribusiness, infrastructure, mining and housing sectors — making them targets for investment as well.
Direct foreign investment in Colombia reached more than $13 billion last year and the United States is the largest investor, accounting for about a quarter of that.
In coming weeks, a number of events have been planned to spur development of the new business relationship between the United States and Colombia.
Miami-Dade County has organized a business development mission to Bogotá May 21-24, and Proexport plans a June 28-29 event in New York called “Capture the Opportunities of the USA-Colombia FTA.’’ Proexport will bring in 400 Colombian exporters and put them together with potential U.S. buyers.
Sandler, Travis & Rosenberg, a Miami law firm, also has scheduled two webinars — one Thursday and the other June 6 — that deal with the rules and regulations that now govern U.S.-Colombia trade.
SOURCE = http://www.miamiherald.com/2012/05/15/2801201/new-era-of-us-colombia-trade-and.html
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