DELAWARE

AND COLOMBIA A GROWING PARTNERSHIP

A U.S.-Colombia Trade Promotion Agreement (CTPA) has the potential to increase both trade and investment between the United States in Colombia, improving on an already strong relationship. In particular, Delaware stands to gain from increased business ties, as the CTPA will create jobs at home through increased export market access for both goods and services, reduced prices for manufacturers, and an improved investment environment. AT $23 MILLION IN 2010, COLOMBIA IS DELAWARES 24TH LARGEST EXPORT MARKET

Total Delaware Exports to Colombia

(millions of dollars)

Source: U.S. Department of Commerce

Upon implementation of the CTPA, 16 percent of Delawares exports to Colombia will be duty-free. This tariff elimination gives Delaware exporters a cost advantage of up to $350,000 over s imilar products exported by competitors who do not have an FTA with Colombia. While Delaware exporters typically face tariffs of 10-15 percent, 94 percent of Colombias exports to the United States in 2010 entered duty free. C TPA would level the playing field for Delaware exporters.

Estimated Increases in U.S. Exports in Sectors Important to Delaware Processed F oods Chemicals Transportation Equipment Agricultural Products Machinery Computers & Electronics 36.2% 22.6 16.1 15.6 14.9 8.0

Source: U.S. International Trade Commission

 Value of Exports Potential Product to Colombia (2010) Duty Savings Surface-active agents $523,174 $78,476 Machinery for rubber production 390,490 39,049 Veterinary vaccines 363,639 18,182 Chemical instrument parts 341,463 17,073 Textile finishing agents 201,600 20,160 Chromatographs 198,478 9,924 154,798 7,740 Primary fluoro-polymers Fertilizers 133,766 6,688 Boring machinery parts 117,600 11,760 Optical radiation instruments 103,995 5,200 COMPANIES WHOSE EXPORTS BECOME DUTY FREE IMMEDIATELY UPON IMPLEMENTATION OF CTPA Dupont, Wilmington, exports Aqualon Company, Wilmington, chemicals and p lastics to exports cellulose and cellulose Colombia that face tariffs of 5- ethers to Colombia that face tariffs 20 p ercent. of 5 p ercent. Croda Inc., Newark, exports fatty-acid esters to Colombia that face tariffs of 5-10 p ercent. Basell, Wilmington, exports chemical residuals to Colombia that face tariffs of 5-10 p ercent. Liberty Machinery, Wilmington, exports styrene monomers to Colombia that face tariffs of 5 percent. Basell, Wilmington, exports chemical residuals to Colombia that Applied Extrusion, New Castle, face tariffs of 5-10 p ercent. exports plastic films to Colombia that face tariffs of 20 p ercent.

Contact: David Thomas, Director, Public Policy, Business Roundtable 202.496.3262, dthomas@brt.org

10 DELAWARE EXPORTS THAT CTPA WILL MAKE DUTY FREE IMMEDIATELY