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Running Head: FREE TRADE AGREEMENT BETWEEN THE UNITED STATES AND
Free Trade Agreement between the United States and Colombia
FREE TRADE AGREEMENT BETWEEN THE UNITED STATES AND COLOMBIA
The Free Trade Treaty (FTT) provides a win-win situation for both Colombia and the U.S.
However, challenges accompany the benefits that are anticipated. The aspects of beneficial impact
can either be economical, social or political. Economical benefits include an access to markets which
contributes to development and poverty reduction.
Merits of the Free Trade Agreement from the U.S. perspective.
Firstly, Colombia provides an export zone for the U.S. especially to the small and the medium
size firms. As a trade partner, Colombia imports agricultural goods from the U.S. where the benefits
of the Free Trade Agreement promote dynamism and help the economy of the Americans to grow.
Furthermore, the FTA potentially offers benefits to the U.S. farmers via the removal of duties
imposed upon quality products from the U.S. Other benefits projected also include an opening for
new opportunities for U.S. agricultural products besides a resolution for the sanitary and
phytosanitary barriers between the two countries. This makes a contribution towards improved
security, strengthened protection for the workers, intellectual property and the environment.
Merits of the Free Trade Agreement from Colombia perspective.
Secondly, the Colombian government in the bid to promote the policy of commercial
integration benefits through the Free Trade that boosts the idea. FTT promotes economic growth and
is projected to cause increased employment rates through job creation. FTT is also provides benefits
through peace reinforcement, promotion of democracy, freedom and reform. The Treaty provides