The United States and Colombia have a long-standing trade relationship that has seen both countries benefiting from each other`s economies. However, in recent years, there has been a growing demand for the two nations to enter into a free trade agreement. The US and Colombia free trade agreement was finally signed in 2012 after several years of negotiation.

This agreement has brought significant changes to the trade relationship between the United States and Colombia. Businesses in both countries can now access new markets, promote job creation, and foster economic growth. The agreement has also improved the competitiveness of American products in the Colombian market, helping to reduce barriers to trade.

One of the essential aspects of this agreement is that it establishes a framework for the reduction of tariffs and other barriers to trade. US exporters and investors have welcomed the agreement since it eliminates tariffs on over 80% of America`s consumer and industrial goods exports. This provision creates new opportunities for US businesses to increase sales in the Colombian market, especially in the agricultural sector.

On the other hand, this agreement also benefits Colombia by enhancing access to the American market. Colombian products, such as flowers, coffee, and textiles, will now be able to be sold and exported to the United States without being subjected to high tariffs. With this, Colombian businesses will have access to a market of over 300 million consumers, creating opportunities for growth and expansion.

Moreover, this agreement also includes provisions that protect workers` rights and the environment, ensuring that both countries maintain high labor standards, sustainable development, and environmental protection. It should be noted that the US-Colombia free trade agreement is the first of its kind to include provisions on workers` rights and environmental issues.

In summary, the US-Colombia free trade agreement is a mutually beneficial agreement that eliminates barriers to trade, promotes job creation and economic growth, and enhances access to new markets. With the signing of this agreement, both countries have opened up a new chapter in their trade relationship, providing opportunities for businesses and consumers in both countries. It is a significant step forward in strengthening the economic ties between the United States and Colombia.