U.S., Colombia conclude trade agreement

U.S., Colombia conclude trade agreement    The U.S. and Colombia Monday concluded work on a comprehensive free trade agreement intended to eliminate tariffs and other trade barriers and increase trade between the countries.
   The agreement was announced in Washington by U.S. Trade Representative Rob Portman and Colombian Minister of Trade, Industry and Tourism Jorge Humberto Botero.
      The agreement stems from a U.S. initiative in May 2004 to negotiate trade agreements with three Andean nations: Colombia, Peru, and Ecuador. Negotiations with Peru were concluded in December 2005. Negotiations with Ecuador are continuing. Bolivia has also participated as an observer and could become part of the agreement at a later stage, a statement from the USTR,s office said.
   “The free trade agreement with Colombia will generate export opportunities for U.S. agriculture, industry, and service providers, and help create jobs in the United States. The agreement will help foster economic development in Colombia, and contribute to efforts to counter narco-terrorism, which threatens democracy and regional stability,” Portman said.