The United States and Colombia Trade Promotion Agreement (CTPA) is a bilateral trade agreement that was signed on November 22, 2006, and entered into force on May 15, 2012. The agreement was designed to strengthen economic ties between the two countries by increasing trade and investment, promoting economic growth, and creating new job opportunities.

The CTPA has been hailed as a significant achievement for both countries. United States Trade Representative Ron Kirk stated that the agreement was “an important step towards expanding U.S. exports, increasing our competitiveness in the region, and supporting jobs here at home.” Colombian President Juan Manuel Santos echoed these sentiments, saying that the agreement would “create new opportunities for our people, strengthen our economy, and contribute to the well-being of our citizens.”

Under the CTPA, over 80 percent of U.S. exports to Colombia are duty-free, with the remaining tariffs being phased out over a period of years. This means that U.S. businesses can now export a wide range of goods to Colombia without having to pay high tariffs, making American products more competitive in the Colombian market. In addition, the agreement also provides enhanced protections for U.S. investors in Colombia, helping to attract more American investment in the country.

The CTPA has already had a positive impact on trade between the two countries. Since its implementation, U.S. exports to Colombia have increased by over 20 percent, reaching a record high of $18.6 billion in 2019. Colombia is now the United States` third-largest export market in Latin America, with a wide range of products being exported, including agriculture products, machinery, chemicals, and transportation equipment.

The CTPA has also helped to strengthen ties between the United States and Colombia in other areas, such as security and education. The two countries now work closely together to combat drug trafficking and other forms of transnational crime, while also promoting educational exchange programs and cultural initiatives.

Overall, the U.S. Colombia Trade Promotion Agreement has been a significant success for both countries. It has helped to increase trade, create jobs, and strengthen economic ties, while also promoting security and educational cooperation. As such, it remains an important pillar of the relationship between the United States and Colombia, and a model for future trade agreements between the two countries.