The Trade Promotion Agreement between the U.S. and Colombia trambien called TLC (English Colombia Trade Promotion Agreement (TPA)), is a free trade agreement (FTA) between Colombia and the United States. Approved on October 10, 2011 by the Congress of the United States and in force since May 15, 2012. It has different purposes in a way favorable to both countries.
- A duty-free access to the United States for almost 100 percent of Colombian export industrial supply, which should not only maintain current employment in the sector but generate new jobs.
- The generation of legal stability for investors and positioning as an entry platform to the U.S. for entrepreneurs in third countries (which should translate into more domestic and foreign investment in the nation, although in an amount difficult to quantify accurately because it is very difficult to estimate).
- The contribution of a few percentage points to economic growth: the amount of this contribution also remains without consensus.
- The increased volume of international trade of the country, both exports and imports.
- Improving international perception people have of Colombia abroad which should "reduce some of the country risk and the cost of borrowing abroad".
- Access (at a rate difficult to determine) of Colombian companies to U.S. government procurement.
- Strengthening controls to biopiracy, which should improve the protection of Colombian biodiversity and other traditional knowledge.
- Access to training, technical assistance and technology transfer, in a few areas, within the framework of international cooperation projects agreed in the FTA (this should make companies more competitive and productive benefit).
- The ease (somewhat) the access of some Colombian professionals to the United States to provide services.
- Also, still have time to tilt the balance further in favor of Colombia to reach goals such as recognition of qualifications Colombians in the United States, agree rules of origin more flexible for Colombian exporters, expanding the total amount of capital fund risk that is being created, and (perhaps most important of all) the creation of a permanent bilateral committee decisions which would provide real access to Colombian exports agricultural, so that Colombia could intensively exploit their comparative advantages sustainable time jobs and wealth that irrigating the entire Colombian nation.
- The treaty was approved and becomes effective on May 15, 2012 between the two countries, this was adopted at the Summit of the Americas made in Cartagena from April 9 to April 15, 2012.
