Free-trade accord in the works between US and Colombia

Thursday, 07 April 2011 11:20:47 (GMT+3)   |  
       

US President Barack Obama plans to work with Congress to establish a free-trade agreement with Colombia. As part of US stipulations to consider such a deal, the Colombian government has agreed to alter labor laws and establish protection for union organizers.

According to the US International Trade Commission (ITC), a free-trade accord will increase US exports to Colombia by $1.1 billion annually.

Following the announcement, Peoria, Illinois-based construction and mining equipment manufacturer Caterpillar Inc. praised the announcement. "Not only is Colombia one of Caterpillar's ten largest US export markets by country, but it is also one of America's closest allies. The US-Colombia Free Trade Agreement will promote US exports and support American jobs," said Caterpillar Chairman and CEO Doug Oberhelman.


Similar articles

US steel industry opinions split over passage of new trade agreements

14 Oct | Steel News

US Trade Administration: Peru, Columbia relationships critical

28 Jun | Steel News

US steel industry opinions split over passage of new trade agreements

14 Oct | Steel News

US Trade Administration: Peru, Columbia relationships critical

28 Jun | Steel News