Colombia looks to Asia after U.S. FTA withdrawal
The Colombian Ministry of Trade has been forced to look seriously at the Asia-Pacific market after the Andean Trade Promotion and Drug Eradication Act (ATPDEA) with the U.S. fell through recently, reported Larepublica.com.co.
Lawyer and former vice-president Humberto de la Calle Lombana wrote the story, highlighting Asia as the ‘epicenter of an economic revolution’ and the benefits of a potential free trade agreement (FTA) with South Korea.
“Without minimizing the importance that Colombian trade has with the United States, it is time to recover the old teaching: every difficulty holds an opportunity,” he said.
“Although Korea is a tough negotiator, what’s certain is that its agricultural production is too low to satisfy a population approaching 50 million with per capita income of $24,000.
“There were proposals for the export of more coffee and increased expectations of reaching a favorable deal with meat, milk, fruits, vegetables, fruit juices and flowers.”
He said the problem with Colombia was that it had not yet reached the levels of growing exports to Asia as other Latin American countries, such as Mexico, Brazil, Chile and Peru.
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