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April 10,
2008
South
Bay Businesses Support Proposed Free Trade Agreement
The South Bay Association of Chambers of Commerce
(SBACC) voted unanimously to support the Colombia Free
Trade Agreement. On behalf of our South Bay employers
and South Bay employees that make up the many of the
SBACC members, SBACC Chair Helen Duncan, in separate
letters to Congresswoman Harman and Congresswoman
Richardson, urged both to support Congressional approval
of the pending trade agreement with Colombia.
If California is going to compete with our global
competitors, we need to do it on a level playing field.
Trade agreements like the one with Colombia will do
that. America’s two-way trade with Colombia reached $18
billion in 2007, making Colombia our fifth largest
trading partner in Latin America. Trade and investment
in Colombia already sustains thousands of U.S. jobs and
the Free Trade Agreement will only open up more
opportunities.
In California, we’re exporting over $117 billion
annually to Colombia with more room for growth if we can
eliminate their tariff barriers. Many U.S. industry
sectors are subject to double-digit tariffs on exports
to Colombia under current law. These are tariffs many of
our competitors don’t have to pay giving them a
competitive advantage in that market. If the Colombia
FTA passes, these tariffs will be eliminated allowing us
to compete on a level playing field.
Most importantly, this is not just an issue for
corporate America. More than 9,000 U.S. companies export
to Colombia, 85% of which are small and medium-sized
firms. This is no different in California where 59,000
businesses are exporting products to markets all over
the world.
This free trade agreement is a vital part of our
continued effort to knock down barriers for the growth
and development of the United States and California. |
