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EstimatedIncreasesinU.S.ExportsinSectors
ImportanttoNewYork
Misc.Manufactures 60.1%
FabricatedMetalProducts 56.4
ProcessedFoods 36.2
Chemicals 22.6
Machinery 14.9
Computers&Electronics 8.0
Source:U.S.InternationalTradeCommission
NEWYORKANDCOLOMBIA–AGROWINGPARTNERSHIP
AU.S.-ColombiaTradePromotionAgreement(CTPA)hasthepotentialtoincreasebothtradeandinvestmentbetweentheUnitedStatesinColombia,improvingonanalreadystrongrelationship.In
particular,NewYorkstandstogainfromincreasedbusinessties,astheCTPAwillcreatejobsathome
throughincreasedexportmarketaccessforbothgoodsandservices,reducedpricesfor
manufacturers,andanimprovedinvestmentenvironment.
AT$168MILLIONIN2010,COLOMBIAISNEWYORK’S39THLARGESTEXPORTMARKET
TotalNewYorkExportstoColombia(millionsofdollars)
Source:U.S.DepartmentofCommerce
UponimplementationoftheCTPA,morethan57
percentofNewYork’sexportstoColombiawillbe
dutyfree.ThistariffeliminationgivesNewYork
exportersacostadvantageofupto$9.8millionover
similarproductsexportedbycompetitorswhodonot
haveanFTAwithColombia.
WhileNewYorkexporterstypicallyfacetariffsof10-
15percent,94percentofColombia’sexportstothe
UnitedStatesin2010entereddutyfree.CTPAwould
leveltheplayingfieldforNewYorkexporters.
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10NEWYORKEXPORTSTHATCTPAWILLMAKEDUTYFREEIMMEDIATELY
COMPANIESWHOSEEXPORTSBECOMEDUTYFREEIMMEDIATELYUPONIMPLEMENTATIONOFCTPA
Contact:DavidThomas,Director,PublicPolicy,BusinessRoundtable
202.496.3262,[email protected]
ValueofExports Potential
Product toColombia(2010) DutySavings
Woodpresses $6,342,000 $634,200
Vaccines 5,310,000 265,500
Digitalprocessingunits 4,587,384 458,738
Wheat 4,430,565 upto575,973
Partsforderricks 4,367,064 218,353
Insecticides 4,110,800 411,080
Gaspurifyingmachinery 4,093,921 614,088
Primarysilicones 4,000,601 upto600,090
Printer,copier,andfaxmachineparts 3,769,620 upto376,962
Cellphones 3,749,874 upto562,481
BaxterHealthcare,NewYork,exports
medicalproductstoColombiathat
facetariffsof5-10percent.
CarrierCorporation,Syracuse,
exportsmachinerytoColombiathat
facestariffsof5-10percent.
ExxonMobilChemicalFilms
International,Macedon,exports
plasticfilmsheetingtoColombiathat
facestariffsof20percent.
ICDAmericaLLC,NewRochelle,
exportschemicalproductsto
Colombiathatfacetariffsof5-15
percent.
MomentivePerformance ,Waterford,
exportsprimarysiliconestoColombia
thatfacetariffsof5-15percent.
JordanTrading,Kingston,exports
wastepapertoColombiathatfaces
tariffsof5percent.
RichProducts,Buffalo,exports
bakingmixestoColombiathat
facetariffsof20percent.
