florida and colombia - a growing partnership
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8/7/2019 Florida and Colombia - A Growing Partnership
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EstimatedIncreasesinU.S.ExportsinSectors
ImportanttoFlorida
Misc.Manufactures 60.1%
FabricatedMetalProducts 56.4
Non-MetallicMineralProducts 41.4
ProcessedFoods 36.2
Fruits&Vegetables 31.6
Computers&Electronics 8.0
Source:U.S.InternationalTradeCommission
FLORIDAANDCOLOMBIA–AGROWINGPARTNERSHIP
AU.S.-ColombiaTradePromotionAgreement(CTPA)hasthepotentialtoincreasebothtradeandinvestmentbetweentheUnitedStatesinColombia,improvingonanalreadystrongrelationship.In
particular,Floridastandstogainfromincreasedbusinessties,astheCTPAwillcreatejobsathome
throughincreasedexportmarketaccessforbothgoodsandservices,reducedpricesfor
manufacturers,andanimprovedinvestmentenvironment.
AT$2.5BILLIONIN2010,COLOMBIAISFLORIDA’S5THLARGESTEXPORTMARKET
TotalFloridaExportstoColombia(millionsofdollars)
Source:U.S.DepartmentofCommerce
UponimplementationoftheCTPA,morethan61percent
ofFlorida’sexportstoColombiawillbeduty-free.This
tariffeliminationgivesFloridaexportersacost
advantageofupto$154millionoversimilarproducts
exportedbycompetitorswhodonothaveanFTAwith
Colombia.
WhileFloridaexporterstypicallyfacetariffsof10-15
percent,94percentofColombia’sexportstotheUnited
Statesin2010entereddutyfree.CTPAwouldlevelthe
playingfieldforFloridaexporters.
8/7/2019 Florida and Colombia - A Growing Partnership
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10FLORIDAEXPORTSTHATCTPAWILLMAKEDUTYFREEIMMEDIATELY
COMPANIESWHOSEEXPORTSBECOMEDUTYFREEIMMEDIATELYUPONIMPLEMENTATIONOFCTPA
Contact:DavidThomas,Director,PublicPolicy,BusinessRoundtable
202.496.3262,[email protected]
ValueofExports Potential
Product toColombia(2010) DutySavings
Aircraftengines&parts $126,321,880 upto$12,632,188
Cellphones 117,339,847 upto17,600,977
Dataprocessingmachinery 110,690,672 11,069,067
Machineryparts 103,454,904 5,172,745
Ammoniumcompounds 65,761,014 3,288,051
Partsforderricks 51,061,519 2,553,076
Diammoniumcompounds 50,678,076 2,533,904
Mathcalculatinginstruments 48,541,751 upto7,281,263
Datarecognitionmachinery 43,505,907 upto6,525,886
Partsforliquidpumps 41,126,040 upto4,112,604
BellMicroproducts ,Miami,exports
computerpartstoColombiathat
facetariffsof5percent.
Canon,Miami,exports
scannerstoColombiathat
facetariffsof5percent.
ActiveMineralsInternational ,
Quincy,exportsmineral
productstoColombiathatface
tariffsof5percent.
AmericanNVOCorp. ,Weston,exportsshovelloaders
toColombiathatfacetariffsof10percent.
BungeLatinAmerica ,CoralGables,
exportssoybeanstoColombiathat
facetariffsof5-20percent.
ClinicalDiagnosticSolutions,Plantation,exportslab
equipmenttoColombiathatfacestariffsof5percent.
DonovanEnterprises ,Stuart,exportsconstruction
equipmenttoColombiathatfacestariffsof5percent.
EntecPolymers,Orlando,exportssyntheticresinsto
Colombiathatfacetariffsof15percent.
FarmcoManufacturers ,Ruskin,exportsmechanical
sprayerstoColombiathatfacetariffsof10percent.
PrimeFlexibleProducts ,
PanamaCity,exportsoilwell
suppliestoColombiathat
facetariffsof10percent.
BeaverStreetFisheries ,
Jacksonville,exportsfrozen
seafoodproductstoColombia
thatfacetariffsof20percent.