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EstimatedIncreasesinU.S.ExportsinSectors
ImportanttoMassachusetts
Misc.Manufactures 60.1%
FabricatedMetalProducts 56.4
Vegetables,Fruits,&Nuts 31.6
Chemicals 22.6
Machinery 14.9
Computers&Electronics 8.0
Source:U.S.InternationalTradeCommission
MASSACHUSETTSANDCOLOMBIA–AGROWINGPARTNERSHIP
AU.S.-ColombiaTradePromotionAgreement(CTPA)hasthepotentialtoincreasebothtradeandinvestmentbetweentheUnitedStatesinColombia,improvingonanalreadystrongrelationship.In
particular,Massachusettsstandstogainfromincreasedbusinessties,astheCTPAwillcreatejobsat
homethroughincreasedexportmarketaccessforbothgoodsandservices,reducedpricesfor
manufacturers,andanimprovedinvestmentenvironment.
AT$73MILLIONIN2010,COLOMBIAISMASSACHUSETTS’36THLARGESTEXPORTMARKET
TotalMassachusettsExportstoColombia(millionsofdollars)
Source:U.S.DepartmentofCommerce
UponimplementationoftheCTPA,morethan73percent
ofMassachusetts’exportstoColombiawillbedutyfree.
ThistariffeliminationgivesMassachusettsexportersa
costadvantageofupto$5.6millionoversimilarproducts
exportedbycompetitorswhodonothaveanFTAwith
Colombia.
WhileMassachusettsexporterstypicallyfacetariffsof10-
15percent,94percentofColombia’sexportstotheUnited
Statesin2010entereddutyfree.CTPAwouldlevelthe
playingfieldforMassachusettsexporters.
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10MASSACHUSETTSEXPORTSTHATCTPAWILLMAKEDUTYFREEIMMEDIATELY
COMPANIESWHOSEEXPORTSBECOMEDUTYFREEIMMEDIATELYUPONIMPLEMENTATIONOFCTPA
Contact:DavidThomas,Director,PublicPolicy,BusinessRoundtable
202.496.3262,[email protected]
ValueofExports Potential
Product toColombia(2010) DutySavings
Packagedmedication $15,201,946 upto$1,520,195
Medicalneedles 5,077,514 253,876
Knittedorcrochetedfibers 3,491,100 698,220
Loopedpilefabrics 2,882,901 576,580
Orthopedicinstruments 2,711,855 135,593
Datarecognitionmachinery 2,254,396 upto338,159
Surgicalinstruments 1,961,721 upto196,172
Chemicallabinstruments 1,324,926 66,246
Dataprocessingmachinery 1,310,289 131,029
Plasticplates 1,048,528 209,706
AlteStore,Hudson,exportsstatic
converterstoColombiathatface
tariffsof15percent.
DJDAssociates,Gardner,exports
shovelloaderstoColombiathatface
tariffsof10percent.
HillViewEquipment ,Milford,exports
constructionequipmenttoColombia
thatfacestariffsof10percent.
OceanSpray,Middleboro,exports
cranberryjuicetoColombiathat
facestariffsof20percent.
SavinoDelBene,EastBoston,exports
medicalneedlestoColombiathatface
tariffsof5percent.
SBSWorldwideInc. ,Chelsea,exports
insulatedcablestoColombiathatface
tariffsof15percent.
WestsideTruckEquipment ,Salisbury,
exportssweepingmachinerytoColombia
thatfacestariffsof5-10percent.
