This FTA, like the other agreements signed by Colombia, is constituted by rules and

procedures derived from them, which are applicable on equal terms for both countries. The
FTA is not a Law, nor is it conformed by them; However, according to the Political
Constitution of our country, international agreements have all the rigor and must be
complied with like any other regulations in force. The FTA is a kind of methodological
guide on how to export - import between the signatory countries, with general
recommendations and criteria that determine the framework under which each country can
act to obtain the greatest benefits. In this sense, on the one hand it is necessary that the two
countries issue legislation for specific issues that take advantage of bilateral conditions; on
the other, each country is free to dictate its national economic policies and take the
measures it deems appropriate to boost international trade and especially protect and
promote the export of its products. The FTA signed with the United States entered into
force on May 15, 2012, as presidents Juan Manuel Santos and Barack Obama agreed at the
Summit of the Americas this year. This Agreement, like other FTAs, does not have an
"expiration date", but any of the parties may request the reform or termination of the other
by following the procedure contained in the final document of the Agreement.
It is still too early to assess the advantages or difficulties arising from the signing of the
Treaty, however it is possible to make a general balance according to the projections of
international trade specialists:

Increase and acceleration of economic growth derived from the greater flow of capital.

• Increase in exports, especially those of products and services that were not previously

considered as “traditional” in the market.

• Increased competitiveness of the national industry derived from access to new

technologies, raw materials and knowledge from the other country at lower costs.

• Stability of the labor market in the industrial sector, to the extent that companies will

require their personnel plant to produce the goods they will export. Likewise, there is the

possibility of generating more employment as sales in the foreign market expand.

• Increase in investor confidence.

• Modernization of the State and organizations related to foreign trade.

Disadvantages
As with the advantages, the picture of difficulties and risks is not easy to foresee, but

experts suggest paying special attention to the following points:

Imbalance of the internal economy and lack of protection of productive sectors that have

not benefited with the negotiation of the Treaty.

Tax income mismatch, since eliminating the import tariffs of foreign products would be

no longer receiving taxes for this concept, which could deepen the national fiscal deficit;

However, analysts expect this money to be recovered by VAT and Income Tax derived

from the greater movement of the economy.

Little capacity of adaptation of the national companies in front of the international

standards of production, generating monopolies and capture of the market by the North

American supply that enters the country.