U.S., Colombia Reach Free-Trade Agreement

Following nearly two years of discussions, Colombia and the United States have reached agreement on a free-trade pact. The agreement is one of three the U.S. has been pursuing with the Andean nations of Colombia, Peru and Ecuador since May 2004. Negotiations with Peru were concluded in December 2005; negotiations with Ecuador continue.

Last year, trade between Colombia and the U.S. totaled $14.3 billion. U.S. exports of goods to Colombia were $5.4 billion, led by machinery, organic chemicals and plastics.

Congress must approve the agreement with Colombia before the pact can be implemented.

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