8/7/2019 Illinois and Colombia - A Growing Partnership

http://slidepdf.com/reader/full/illinois-and-colombia-a-growing-partnership 1/2

EstimatedIncreasesinU.S.ExportsinSectors

ImportanttoIllinois

PorkProducts 72.3%

FabricatedMetalProducts 56.4

ProcessedFoods 36.2

Chemicals 22.6

Corn 21.0

Machinery 14.9

Source:U.S.InternationalTradeCommission

 

ILLINOISANDCOLOMBIA–AGROWINGPARTNERSHIP

AU.S.-ColombiaTradePromotionAgreement(CTPA)hasthepotentialtoincreasebothtradeandinvestmentbetweentheUnitedStatesinColombia,improvingonanalreadystrongrelationship.In

particular,Illinoisstandstogainfromincreasedbusinessties,astheCTPAwillcreatejobsathome

throughincreasedexportmarketaccessforbothgoodsandservices,reducedpricesfor

manufacturers,andanimprovedinvestmentenvironment.

AT$307MILLIONIN2010,COLOMBIAISILLINOIS’27THLARGESTEXPORTMARKET

TotalIllinoisExportstoColombia(millionsofdollars)

Source:U.S.DepartmentofCommerce

UponimplementationoftheCTPA,morethan66

 percentofIllinois’exportstoColombiawillbeduty

 free.ThistariffeliminationgivesIllinoisexportersa

costadvantageofupto$27millionoversimilar

 productsexportedbycompetitorswhodonothavean

FTAwithColombia.

WhileIllinoisexporterstypicallyfacetariffsof10-15

 percent,94percentofColombia’sexportstothe

UnitedStatesin2010entereddutyfree.CTPAwould

leveltheplayingfieldforIllinoisexporters.

8/7/2019 Illinois and Colombia - A Growing Partnership

http://slidepdf.com/reader/full/illinois-and-colombia-a-growing-partnership 2/2

10ILLINOISEXPORTSTHATCTPAWILLMAKEDUTYFREEIMMEDIATELY

COMPANIESWHOSEEXPORTSBECOMEDUTYFREEIMMEDIATELYUPONIMPLEMENTATIONOFCTPA

Contact:DavidThomas,Director,PublicPolicy,BusinessRoundtable

202.496.3262,dthomas@brt.org

ValueofExports Potential

Product toColombia(2010) DutySavings

Dumpingmachinery $47,220,000 $7,083,000

Transmissionapparatus 17,630,436 upto2,644,565

Axlesforrailvehicles 13,790,235 689,512

Railwaycars 13,324,000 2,664,800

Salts 8,630,662 431,533

Thermostats 6,101,077 upto915,162

Staticconverters 5,418,714 812,807

Proteinconcentrates 5,183,499 1,036,700

Storagebatteries 4,780,393 717,059

Plasticplatesandsheets 4,461,943 892,389

BaxterInc.,Deerfield,exports

medicalsuppliestoColombiathat

facetariffsof5-10percent.

ArcherDanielsMidland,Decatur,

exportssalts,cornmeal,wheat,

andproteinconcentratesto

Colombiathatfacetariffsof5-20

percent.

AuroraPumps,NorthAurora,

exportsmachinerypartsto

Colombiathatfacetariffsof5-

10percent.

FiltrationGroupInc.,Joliet,

exportsairandotherfiltersto

Colombiathatfacetariffsof10-

15percent.

JohnDeere,Moline,exports

heavyequipmentandpartsto

Colombiathatfacetariffsof5-

15percent.

NalcoCompany,Naperville,

exportsindustrialchemicalsto

Colombiathatfacetariffsof5-10percent.

SolaeInc.,GibsonCity,exports

proteinconcentratestoColombia

thatfacetariffsof20percent.

Bunn-O-MaticCorporation ,

Springfield,hasexported

machinerytoColombiathat

facestariffsof5-10percent.