Free Trade Agreement (Colombia And The United States

FTA, which is a trade agreement to expand the market for goods and services between the participating countries, has been struggling Colombians minds nowadays. It appears to be the most important andviable option that Colombia has in the context of international integration. However, raise some concerns about the loss of consumer protection in the Colombian financial sector and the negativeeffects of capital backing of the U.S. banking subsidiaries in Colombia.
On one side, supporters believe that the Treaty will offer: the generation of legal stability for investors and positioning as anentry platform to the U.S. for entrepreneurs, the contribution of a few percentage points to economic growth, the increased volume of international trade of the country (exports and imports), improvethe international perception people have of Colombia in the exterior, Colombians firms’ access to U.S. public sector purchasing, somehow facilitate the access of some of Colombian professionals tothe United States to provide services, and a duty-free access to the United States for almost a 100% of Colombian export industrial supply, which would not only maintain the current employment in thesector but generate new jobs.
On the other side, people who are against FTA argue generally that Colombia’s gain will be far from what was expected. Different unions have expressed rejection toward theunequal distribution of benefits of NAFTA because they found it detrimental to the economy, mainly in the agricultural because they are going to earn less, work harder and compete more. They complainbecause of the lack of popular consultation and the lack of empirical evidence of the usefulness of similar treaties (six countries recently signed similar treaties).
Nothing can be too good toguarantee you perfection. The Free Trade Agreement between Colombia and the United States has one basic fact making it a controversial decision; its benefits won’t be equal for everyone, for example...