Colombia aims to be Latin America's third largest economy after Brazil and Mexico by 2015, said the country's trade minister this week during a business conference in Madrid.
President Barack Obama signed into law the free trade agreement with Colombia Friday, marking the end of seven years of legislative effort. Obama also signed similar trade agreements with Panama and South Korea. The US Congress sent the trade bills to Obama after ratifying the agreements October 12.
In an attempt to accelerate talks on a trilateral free trade agreement (FTA) , the India-Brazil-South Africa (IBSA) summit decided to hold an annual meeting of trade ministers from the three countries beginning from March next year.
United States industry leaders have welcomed words of encouragement from Republican congressional leaders that have given new hope for implementation of proposed US free trade agreements (FTA) with Korea, Colombia and Panama.
The Canada-Colombia Free Trade Agreement which took effect on Monday August 15 is Canada's fourth bilateral trade deal with a Latin American country and eliminates tariffs on a range of goods and services in an effort to facilitate trade and investment.
The United States Senate leaders ended an impasse over stalled free-trade agreements, agreeing to vote after the August recess on benefits for workers who lose their jobs because of overseas competition, which opens the way for the approval of pending agreements with Korea, Colombia and Panama.
Japan is attending the Mercosur summit in Paraguay with an eye on proposing the launch of a dialogue to boost bilateral economic relations and explore the possibility of signing a free trade agreement, reports the Japanese news agency Kyodo.
French Foreign Trade Secretary Pierre Lellouche said he had witnessed ‘strong tensions’ among Mercosur members during negotiations with the European Union for a free trade agreement.
The United States free trade deals with Colombia, Panama and South Korea will pass through Congress by August if Republicans renew funding for the retraining of displaced workers, the chief U.S. trade official said Thursday.
The inability of the United States Congress and the administration to move three stalled free trade agreements is hurting US economic growth, testified American Farm Bureau Federation President Bob Stallman before the House Agriculture Committee.