South Dakota and Colombia - A Growing Partnership
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EstimatedIncreasesinU.S.ExportsinSectors ImportanttoSouthDakota Misc.Manuf actures 60.1% FabricatedMetalProducts 56.4 ProcessedFoods 36.2 Corn 21.0 TransportationEquipment 16.1 Machinery 14.9 Source:U. S.InternationalTradeCommission SOUTHDAK OTAANDCOLOMBI A–AGROWINGPARTNERSHIP AU.S.-ColombiaTradePro motionAgreement(CTPA)hasthepotentialtoincreaseboth tradeand investmentbetweentheUnitedStatesand Colombia,improvingon analreadystrongrela tionship.In particular,So uthDakotastandsto gainfromincreasedbusin essties,astheCTPAwillcreatejob sat homethroughincreasedexportmarketaccessforboth goodsandservices,reducedpricesfor manufacturers,andanimprovedinvestmentenvironment. AT$8.6MILLION IN2010,COLOMBI AISSOUTHDAKOTA’S18 TH LARGESTEXPORTMARKET TotalSouthDakotaExportstoColombia (millionsofdollars) Source:U.S.DepartmentofCommerce Uponimplementa tionofthe CTPA,morethan 41 percento fSouthDakot a’sexports toColombiawil lbe dutyfree. Thistarif feliminationg ivesSouth Dakota exportersacostadvantageofupto$465,000over similarprodu ctsexported bycompetitor swhodonot haveanFTAwithColombia. WhileSouth Dakotaexporter stypically facetarif fsof 10-15percent,94percentofColombia’sexportstothe UnitedStatesin2010entereddutyfree.CTPAwould levelthe playingfield forSouthDak otaexporter s.
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Transcript of South Dakota and Colombia - A Growing Partnership
8/7/2019 South Dakota and Colombia - A Growing Partnership
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EstimatedIncreasesinU.S.ExportsinSectors
ImportanttoSouthDakota
Misc.Manufactures 60.1%
FabricatedMetalProducts 56.4
ProcessedFoods 36.2
Corn 21.0
TransportationEquipment 16.1
Machinery 14.9
Source:U.S.InternationalTradeCommission
SOUTHDAKOTAANDCOLOMBIA–AGROWINGPARTNERSHIP
AU.S.-ColombiaTradePromotionAgreement(CTPA)hasthepotentialtoincreasebothtradeandinvestmentbetweentheUnitedStatesandColombia,improvingonanalreadystrongrelationship.In
particular,SouthDakotastandstogainfromincreasedbusinessties,astheCTPAwillcreatejobsat
homethroughincreasedexportmarketaccessforbothgoodsandservices,reducedpricesfor
manufacturers,andanimprovedinvestmentenvironment.
AT$8.6MILLIONIN2010,COLOMBIAISSOUTHDAKOTA’S18THLARGESTEXPORTMARKET
TotalSouthDakotaExportstoColombia(millionsofdollars)
Source:U.S.DepartmentofCommerce
UponimplementationoftheCTPA,morethan41
percentofSouthDakota’sexportstoColombiawillbe
dutyfree.ThistariffeliminationgivesSouthDakota
exportersacostadvantageofupto$465,000over
similarproductsexportedbycompetitorswhodonot
haveanFTAwithColombia.
WhileSouthDakotaexporterstypicallyfacetariffsof
10-15percent,94percentofColombia’sexportstothe
UnitedStatesin2010entereddutyfree.CTPAwould
leveltheplayingfieldforSouthDakotaexporters.
8/7/2019 South Dakota and Colombia - A Growing Partnership
http://slidepdf.com/reader/full/south-dakota-and-colombia-a-growing-partnership 2/2
10SOUTHDAKOTAEXPORTSTHATCTPAWILLMAKEDUTYFREEIMMEDIATELY
COMPANIESWHOSEEXPORTSBECOMEDUTYFREEIMMEDIATELYUPONIMPLEMENTATIONOFCTPA
Contact:DavidThomas,Director,PublicPolicy,BusinessRoundtable
202.496.3262,[email protected]
ValueofExports Potential
Product toColombia(2010) DutySavings
Crushing&grindingmachinery $1,845,894 $276,884
LCDorLEDpanels 357,750 53,663
Trailerparts 318,352 31,835
Dataprocessingmachinery 279,293 27,929
Axlesforrailvehicles 160,696 8,035
Mineralsortingmachinery 151,676 upto22,751
Sausagecasing 80,548 4,027
Trucks&tractors 72,420 10,863
Lifting&loadingmachinery 50,000 7,500
Partsforderricks 48,672 2,434
DaviscoFoodsInternational ,LakeNorden,exportsproteinconcentratesto
Colombiathatfacetariffsof20percent.
KolbergPioneerInc. ,Yankton,
exportsrockcrusherstoColombia
thatfacetariffsof15percent.
Daktronics,Brookings,exportsLEDdisplaysystemstoColombiathat
facetariffsof15percent.
