florida and colombia - a growing partnership

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

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EstimatedIncreasesinU.S.ExportsinSectors

ImportanttoFlorida

Misc.Manufactures 60.1%

FabricatedMetalProducts 56.4

Non-MetallicMineralProducts 41.4

ProcessedFoods 36.2

Fruits&Vegetables 31.6

Computers&Electronics 8.0

Source:U.S.InternationalTradeCommission

FLORIDAANDCOLOMBIA–AGROWINGPARTNERSHIP

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

particular,Floridastandstogainfromincreasedbusinessties,astheCTPAwillcreatejobsathome

throughincreasedexportmarketaccessforbothgoodsandservices,reducedpricesfor

manufacturers,andanimprovedinvestmentenvironment.

AT$2.5BILLIONIN2010,COLOMBIAISFLORIDA’S5THLARGESTEXPORTMARKET

TotalFloridaExportstoColombia(millionsofdollars)

Source:U.S.DepartmentofCommerce

UponimplementationoftheCTPA,morethan61percent

ofFlorida’sexportstoColombiawillbeduty-free.This

tariffeliminationgivesFloridaexportersacost

advantageofupto$154millionoversimilarproducts

exportedbycompetitorswhodonothaveanFTAwith

Colombia.

WhileFloridaexporterstypicallyfacetariffsof10-15

 percent,94percentofColombia’sexportstotheUnited

Statesin2010entereddutyfree.CTPAwouldlevelthe

 playingfieldforFloridaexporters.

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10FLORIDAEXPORTSTHATCTPAWILLMAKEDUTYFREEIMMEDIATELY

COMPANIESWHOSEEXPORTSBECOMEDUTYFREEIMMEDIATELYUPONIMPLEMENTATIONOFCTPA

Contact:DavidThomas,Director,PublicPolicy,BusinessRoundtable

202.496.3262,dthomas@brt.org

ValueofExports Potential

Product toColombia(2010) DutySavings

Aircraftengines&parts $126,321,880 upto$12,632,188

Cellphones 117,339,847 upto17,600,977

Dataprocessingmachinery 110,690,672 11,069,067

Machineryparts 103,454,904 5,172,745

Ammoniumcompounds 65,761,014 3,288,051

Partsforderricks 51,061,519 2,553,076

Diammoniumcompounds 50,678,076 2,533,904

Mathcalculatinginstruments 48,541,751 upto7,281,263

Datarecognitionmachinery 43,505,907 upto6,525,886

Partsforliquidpumps 41,126,040 upto4,112,604

BellMicroproducts ,Miami,exports

computerpartstoColombiathat

facetariffsof5percent.

Canon,Miami,exports

scannerstoColombiathat

facetariffsof5percent.

ActiveMineralsInternational ,

Quincy,exportsmineral

productstoColombiathatface

tariffsof5percent.

AmericanNVOCorp. ,Weston,exportsshovelloaders

toColombiathatfacetariffsof10percent.

BungeLatinAmerica ,CoralGables,

exportssoybeanstoColombiathat

facetariffsof5-20percent.

ClinicalDiagnosticSolutions,Plantation,exportslab

equipmenttoColombiathatfacestariffsof5percent.

DonovanEnterprises ,Stuart,exportsconstruction

equipmenttoColombiathatfacestariffsof5percent.

EntecPolymers,Orlando,exportssyntheticresinsto

Colombiathatfacetariffsof15percent.

FarmcoManufacturers ,Ruskin,exportsmechanical

sprayerstoColombiathatfacetariffsof10percent.

PrimeFlexibleProducts ,

PanamaCity,exportsoilwell

suppliestoColombiathat

facetariffsof10percent.

BeaverStreetFisheries ,

Jacksonville,exportsfrozen

seafoodproductstoColombia

thatfacetariffsof20percent.