Is Free Trade Good for Colombia

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Is Free Trade Good for Colombia, and is it Good for the United States?
Has the the Free Trade Agreement between the U.S. and Colombia Reached a Cross Roads?

In recent years, Colombia has signed a bundle of free trade agreements with Chile, Peru, Mexico, and Canada, while seeking membership of the Asian Pacific Economic Cooperation (APEC) and opening markets with Japan and South Korea. Bogotá now seeks new markets for its products because of the diplomatic and economic stalemate with Venezuela, Colombia’s second trading partner. Nevertheless, Colombia has been actively seeking a trade agreement with the United States, and despite a seemingly clear path for its approval, it also entails some controversy.

It’s worth noting that in 2002, Colombia and the United States signed the Andean Trade Promotion and Drug Eradication Act, which offers a way to foster human development and at the same time controls cocaine production. Both countries also signed the controversial Plan Colombia in 1998. For some Colombians, and particularly for the last several administrations in both countries, a free trade agreement with the United States would involve unconditional support from Colombians, given their longstanding common struggle against the drug trade.

This analysis was prepared by COHA Research Fellow Robert Valencia.
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