NCGA Supports U.S. Colombia Free Trade Agreement (04/10/08)
Fast track process for the U.S.-Colombia free trade agreement (FTA) got under way today, notes the National Corn Growers Association (NCGA).
“The Colombia free trade agreement will open up new opportunities for corn growers,” said NCGA President Ron Litterer. “Under the agreement, the United States will have immediate access to Colombia’s market for 2.1 million metric tons of corn at zero duty.”
According to the Office of the United States Trade Representative (USTR), 92 percent of U.S. imports from Colombia face absolutely no duty as a result of unilateral U.S. preference programs. Similarly, Colombia’s tariffs on most imports from the United States range from 5 to 15 percent with some as high as 35 percent.
“The U.S. feed grain industry will benefit from immediate duty free access to the Colombian market for distillers dried grains and corn gluten feed/meal,” said NCGA Joint Trade A-Team Committee Chairman Bill Hoffman.
NCGA estimates that U.S. corn dried distillers grains production will reach more than 31 million tons by 2010/2011.
“Enhanced market access for distillers dried grains products is becoming increasingly important as expansion of the U.S. ethanol industry continues to boost production of these feed products,” Litterer added.
Congress will vote on the matter within 90 days.
