Laurie Mease is a Business & Industry Specialist with the International Trade Administration’s Office of Textiles and Apparel (OTEXA). Richard Stetson is an International Trade Specialist with OTEXA.
Yarn and fabric trade between the United States and Colombia has grown by more than 30 percent since 2002. And with the recent implementation of the U.S.-Colombia Trade Promotion Agreement, this figure is destined to grow in the coming years.
In 2008, we had the opportunity to visit Medellín, Colombia to participate in the Colombiatex trade show. We visited eight manufacturing facilities and were impressed with the diversity, sophistication, and maturity of the Colombian textile and apparel industry. We observed significant capital investment in machinery and technology. Many of the manufacturers have operations which encompass all of the necessary manufacturing processes under one roof: they spin yarn, knit and weave fabric, and assemble apparel. Unlike most of the textiles and apparel produced in Central America and the Caribbean, the majority of Colombia’s products are intended for sale in Colombia’s domestic market or for export to Venezuela, Mexico, and other markets in Latin America.Read More
WASHINGTON (Reuters) – Leaders of the U.S. House of Representatives said on Friday they reached a bipartisan deal to reauthorize the U.S. Export-Import Bank through September 30, 2014, and gradually increase its lending cap to $140 billion from the current $100 billion.Read More
A free trade agreement (FTA) between the U.S. and Colombia will take effect May 15, Presidents Barack Obama and Juan Manuel Santos confirmed Sunday.
U.S. Trade Representative Ron Kirk had earlier announced that according to the U.S. government Colombia had complied with labor conditions clearing the way for the FTA to come into force.
“This means millions of jobs” for the U.S. and Colombia, Santos said at a joint press conference held after a meeting with Obama.Read More
After a lengthy debate over investor protections, the Senate has passed legislation aimed at making it easier for entrepreneurs to gain access to capital.
The Senate voted today 73 to 26 to pass the JOBS Act — an acronym for “Jumpstart Our Business Startups” — which, among other things, would make it easier for startups to raise small amounts of money from large pools of investors. The technique, called “crowdfunding,” has become more mainstream with the advent of sites like Kiva, Kickstarter and IndieGogo.Read More