montana and colombia - a growing partnership
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8/7/2019 Montana and Colombia - A Growing Partnership
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EstimatedIncreasesinU.S.ExportsinSectors
ImportanttoMontana
WoodProducts 72.6%
FabricatedMetalProducts 56.4
ProcessedFoods 36.2
Non-MetallicMinerals 22.6
Machinery 14.9
WheatProducts 11.2
Source:U.S.InternationalTradeCommission
MONTANAANDCOLOMBIA–AGROWINGPARTNERSHIP
AU.S.-ColombiaTradePromotionAgreement(CTPA)hasthepotentialtoincreasebothtradeandinvestmentbetweentheUnitedStatesandColombia,improvingonanalreadystrongrelationship.In
particular,Montanastandstogainfromincreasedbusinessties,astheCTPAwillcreatejobsathome
throughincreasedexportmarketaccessforbothgoodsandservices,reducedpricesfor
manufacturers,andanimprovedinvestmentenvironment.
AT$3.1MILLIONIN2010,COLOMBIAISMONTANA’S27THLARGESTEXPORTMARKET
TotalMontanaExportstoColombia(millionsofdollars)
Source:U.S.DepartmentofCommerce
UponimplementationoftheCTPA,morethan64
percentofMontana’sexportstoColombiawillbeduty
free.ThistariffeliminationgivesMontanaexportersa
costadvantageofupto$283,000oversimilarproducts
exportedbycompetitorswhodonothaveanFTAwith
Colombia.
WhileMontanaexporterstypicallyfacetariffsof10-15
percent,94percentofColombia’sexportstotheUnited
Statesin2010entereddutyfree.CTPAwouldlevelthe
playingfieldforMontanaexporters.
8/7/2019 Montana and Colombia - A Growing Partnership
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10MONTANAEXPORTSTHATCTPAWILLMAKEDUTYFREEIMMEDIATELY
COMPANIESWHOSEEXPORTSBECOMEDUTYFREEIMMEDIATELYUPONIMPLEMENTATIONOFCTPA
Contact:DavidThomas,Director,PublicPolicy,BusinessRoundtable
202.496.3262,[email protected]
ValueofExports Potential
Product toColombia(2010) DutySavings
Cartridgesandparts $671,309 upto$134,262
Lentils 380,122 upto57,018
Insecticides 179,463 17,946
Fungicides 154,080 15,408
Steatiteandtalc 147,054 7,353
Bulldozers&angledozers 72,750 7,275
Boringmachineryparts 66,074 6,607
Partsforelectricalcircuits 65,113 9,767
Peas 49,533 upto7,430
Partsforderricks 33,427 1,671
HSMunitionsInc.,Stevensville,
exportscartridgesandpartsto
Colombiathatfacetariffsof15-20percent.
EdLivingstonSales,
Billings,exportsderricks
toColombiathatfacetariffsof15percent.
EightofMontana’stop10exports to
Colombiain2010,whichnowfacetariffs
of5-20percent,willreceiveimmediateduty-freebenefitsundertheCTPA.
NumerousMontanacompaniesandassociations,includingSpikaWeldinginLewiston,LinkCommunications in
Billings,CIPPCorp.inHelena,theMontanaGrainGrowers ,theMontanaPulseAdvisoryCouncil ,andMontana
CertifiedSeedPotatoes ,havesoughttomakein-roadsintheColombianmarketandpositionthemselvesfor
increasedexportstoColombiauponimplementationoftheCTPA.