Equipment machinery & us-colombia fta - may 2011

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EXPORTACION DE EQUIPO Y MAQUINARIA PESADA PARA COLOMBIA

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Equipment machinery & us-colombia fta - may 2011

  1. 1. U.S.  Machinery  and  Equipment  Exporters  to  Benefit  from   Expanded  Access  to  Growing  Colombian  Market     May  2011     U.S.  exporters  of  machinery  and  agricultural,  construction,  electrical,  medical  and   transportation  equipment  will  benefit  from  the  reduction  and  elimination  of  tariff  and  non-­‐ tariff  barriers  to  trade  when  the  U.S.-­‐Colombia  Free  Trade  Agreement  (FTA)  is   implemented.  For  most  U.S.  equipment  exports,  tariffs  will  be  eliminated  immediately,  with   remaining  duties  to  be  phased  out  within  five  to  10  years.  In  addition,  as  part  of  the  FTA’s   Rules  of  Origin  chapter,  Colombia  will  end  its  ban  on  U.S.  remanufactured  equipment   exports  and  immediately  eliminate  tariffs  on  most  of  these  goods.   Machinery     • In  2010,  U.S.  exporters  shipped  more  than  $1.2  billion  worth  of  machinery  goods  to   Colombia  –  the  15th  largest  market  for  U.S.  machinery  exports.       • Of  the  $1.2  billion  in  U.S.  machinery  exports  to   “Not  only  is  Colombia  one  of   Colombia,  small-­‐  and  medium-­‐sized  enterprises   Caterpillars  ten  largest  U.S.  export   (SMEs)  exported  $765  million.     markets  by  country,  but  it  is  also  one     of  Americas  closest  allies.  The  U.S.-­‐ • Key  U.S.  machinery  exports  to  Colombia  include  air   Colombia  Free  Trade  Agreement  will   and  liquid  pumps,  valves,  compressors,  lifting   promote  U.S.  exports  and  support   machinery  and  parts.   American  jobs.  The  agreement  is  also     a  validation  that  Colombia  is  a  good   • Colombian  tariffs  on  U.S.  machinery  exports  average   place  to  conduct  business.”   9.4  percent,  but  can  reach  as  high  as  20  percent.     Between  2008  and  2010,  U.S.  machinery  exporters   -­‐  Doug  Oberhelman,  Chairman  and   paid  more  than  $365  million  in  Colombian  tariffs.     CEO,  Caterpillar,  April  6,  2011         • When  the  FTA  enters  into  force,  more  than  65  percent  of  U.S.  machinery  exports   will  receive  duty-­‐free  treatment  immediately,  with  remaining  tariffs  zeroed  out  in   two  phases  within  five  to  10  years.       Agricultural  Equipment       • Between  2008  and  2010,  the  United  States  exported  an   estimated  $19  million  in  agricultural  equipment  to   Colombia  –  the  18th  largest  market  for  U.S.   agricultural  equipment  exports  worldwide.        Embassy  of  Colombia  www.colombiaemb.org                                                                                                                                    1  
  2. 2. • Key  U.S.  agricultural  equipment  exports  to  Colombia  include  tractors,  harvesting   equipment  and  machinery,  mowers  and  related  parts.       • U.S.  agricultural  equipment  exporters  paid  an  estimated  $1  million  in  Colombian   tariffs  between  2008  and  2010.       • When  the  FTA  enters  into  force,  roughly  97  percent  of  U.S.  agricultural   equipment  exports  will  become  duty  free  immediately,  with  the  remaining   tariffs  to  be  phased  out  within  five  years.       Construction  Equipment       • Colombia  is  the  9th  largest  market  for  U.S.   construction  equipment  exports,  with  these  goods   “This  trade  agreement  will  expand   accounting  for  8.7  percent  of  U.S.  industrial  exports   U.S.  exports  to  Colombia  by  more  than   to  Colombia  between  2008  and  2010.     $1.1  billion  and  give  over  80  percent     of  U.S.  agricultural  and  construction   • In  that  two-­‐year  period,  annually  the  United  States   equipment  immediate  duty  free  access   exported  an  average  of  more  than  $787  million  in   to  this  important  emerging  market.   construction  equipment  to  Colombia.     The  trade  agreement  also  provides     greater  protection  and  enforcement  of   • Key  U.S.  construction  equipment  exports  to  Colombia   a  broad  range  of  intellectual  property   include  boring  and  sinking  machinery  and  parts,   rights.”   dumpers,  shovel  loaders  and  track  laying  machinery     and  equipment.     -­‐  Association  of  Equipment     Manufacturers,  April  12,  2011       • Colombian  tariffs  on  U.S.  construction  equipment   range  between  five  and  15  percent,  with  U.S.   exporters  facing  an  average  tariff  of  10.4  percent.   Between  2008  and  2010,  U.S.  construction   equipment  manufacturers  paid  more  than  $200   million  in  tariffs  on  exports  to  Colombia.       • When  the  FTA  enters  into  force,  98  percent  of  U.S.   construction  equipment  exports  would  receive   duty-­‐free  treatment  immediately,  with  the   remaining  two  percent  of  tariffs  to  be  phased  out   within  five  years.      Embassy  of  Colombia  www.colombiaemb.org                                                                                                                                    2  
  3. 3. Electrical  Equipment       • The  United  States  exported  nearly  $200  million  in  electrical  equipment  to   Colombia  between  2008  and  2010,  on  average,  making  Colombia  the  20th  largest   market  for  these  goods.       • Key  U.S.  electrical  equipment  exports  to  Colombia  include  electronic  calculation   device  parts,  laser  disks  and  generating  sets.         • Colombian  tariffs  on  U.S.  electrical  equipment  can   “The  U.S.-­‐Colombia  FTA’s  aggressive   be  as  high  as  20  percent,  with  U.S.  exporters  facing   elimination  of  tariffs  on  U.S.   an  average  tariff  of  8.9  percent.  Between  2008  and   electroindustry  products,  which  range   2010,  U.S.  electrical  equipment  manufacturers  paid   from  5  to  20  percent,  stands  to  improve   nearly  $63  million  in  tariffs  on  exports  to   our  export  totals  even  further.”   Colombia.         -­‐  Evan  R.  Gaddis,  President  and  CEO,   • When  the  FTA  enters  into  force,  more  than  60   NEMA  –  The  Association  of  Electrical   percent  of  U.S.  electrical  equipment  exports   and  Medical  Imaging  Equipment   would  receive  duty-­‐free  treatment   Manufacturers,  April  6,  2011     immediately,  with  the  remaining  tariffs  to  be     eliminated  in  three  phases  within  10  years  of  the   agreement’s  implementation.       Medical  Equipment     • Colombia  is  the  16th  largest  market  for  U.S.   medical  equipment  exports,  and  between  2008   and  2010,  the  United  States  exported  $247  million   in  medical  equipment  to  Colombia,  on  average.     • Key  U.S.  medical  equipment  exports  to  Colombia   include  diagnostic  and  laboratory  reagents,   electro-­‐diagnostic  apparatus  and  medical  needles   and  other  supplies.       • U.S.  exporters  of  these  goods  currently  face   Colombian  tariffs  that  range  between  five  and  15   percent.  The  average  tariff  is  7.6  percent.  Between  2008  and  2010,  U.S.  medical   equipment  exporters  paid  more  than  $40  million  in  Colombian  tariffs.     • Nearly  all  –  98  percent  –  of  U.S.  medical  equipment  exports  to  Colombia  will   receive  immediate  duty-­‐free  treatment  when  the  FTA  enters  into  force.            Embassy  of  Colombia  www.colombiaemb.org                                                                                                                                    3  
  4. 4.   • Between  2008  and  2010,  the  United  States  exported  more  than  $81  million  •n   i     shipping  and  transportation  equipment  to  Colombia  –  the  8th  largest  U.S.   •   market  for  these  goods.     •     •   • Key  U.S.  exports  in  this  sector  include  trailers,  semi-­‐trailers,  railway  cars  and   •   truck  axels  and  wheels.   •       • While  U.S.  exporters  face  an  average   Colombian  tariff  of  9.3  percent  on  these  goods,   duties  can  reach  as  high  as  20  percent.  U.S.   exporters  paid  more  than  $26  million  in   tariffs  on  shipping  and  transportation   equipment  exports  to  Colombia  between  2008   and  2010.     • Upon  implementation  of  the  FTA,  more  than   87  percent  of  U.S.  shipping  and   transportation  exports  will  receive  duty-­‐ free  treatment  immediately,  with  remaining   tariffs  to  be  phased  out  in  two  phases  over  five   to  10  years  Embassy  of  Colombia  www.colombiaemb.org                                                                                                                                    4  

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