Washington, DC (GMA) — The Grocery Manufacturers Association praised last week's implementation of the U.S. – Colombia Trade Promotion Agreement (CTPA). CTPA will drastically eliminate tariffs and other barriers to U.S. exports and significantly expand trade between the U.S. and Colombia.
“President Obama and Colombian President Juan Manuel Santos should be commended for the successful passage and implementation of this milestone trade agreement between the U.S. and Colombia,” said Pamela G. Bailey, president & CEO of the Grocery Manufacturers Association. “The food, beverage and consumer packaged goods (CPG) industry exports $50 billion worth of goods to 215 countries around the globe, generating a $10 billion trade surplus.
“This free trade agreement will be critically important to increasing the exports of U.S. food and consumer products to Colombia, South America’s third largest economy. By creating a level playing field, CPTA will increase our competitiveness in this growing economy and help the food, beverage and CPG industry innovate, expand and create new jobs.
“With its 1.4 million manufacturing employees that generate $1.2 trillion in annual sales, the food, beverage and CPG industry is an important cornerstone of the U.S. and global economy and this agreement will help ensure U.S. goods will not be placed at a competitive disadvantage.”
Based in Washington, D.C., the Grocery Manufacturers Association is the voice of more than 300 leading food, beverage and consumer product companies that sustain and enhance the quality of life for hundreds of millions of people in the United States and around the globe.