Chairman Camp stated: “Today’s entry into force is cause for celebration. I appreciate and applaud the significant effort by the administrations of both Presidents Obama and Santos to ensure prompt implementation of the agreement after Congress approved it in October.
“Now we can begin reaping the substantial benefits that the Colombia trade agreement unlocks. The U.S. International Trade Commission has estimated that the agreement will increase U.S. exports by $1.1 billion and increase U.S. GDP by $2.5 billion. That means substantial U.S. job creation, which we so greatly need in this difficult economy.”
Chairman Brady added: “Entry into force of this agreement is very good news for U.S. workers, farmers, manufacturers, and service exporters. We can now begin to recapture export market share that we lost in Colombia during the years that the trade agreement was not in force. Now that we are ‘back on the field’ in Colombia and Korea, I look forward to rapid implementation of the Panama trade agreement, as well.”