President Barack Obama and Colombian President Juan Manuel Santos announced that the countries will implement the U.S.-Colombia free trade agreement (FTA) on May 15.
Implementation of the FTA will eliminate all tariffs on U.S. wheat imports into Colombia. The agreement creates a level playing field for U.S. wheat farmers, as export competitors Canada and Argentina already enjoy duty-free access to the market. The U.S. wheat industry has been supportive of the FTAs with Colombia, South Korea, Panama and other free trade measures. “All three of these pacts are important to wheat farmers, who depend on exports to sell about half of the wheat we grow every year,” said Erik Younggren, President of NAWG.
“The implementation of both the U.S.-Colombia and the U.S.-Korea FTAs gives us encouragement that we will soon see the agreement with Panama complete in the very near future.”
A news release is available at http://www.wheatworld.org/news-events/2012/04/u-s-wheat-industry-welcomes-u-s-colombia-fta-implementation-date/