Home / Knowledge / News / Textiles / Cotton industry urges prompt approval of US-Colombia FTA
Cotton industry urges prompt approval of US-Colombia FTA
04
Oct '11
The National Cotton Council welcomes the news that the enabling legislation necessary for Congress to approve the U.S.-Colombia Free Trade Agreement (FTA) has been formally transmitted to Congress. The U.S. cotton industry urges immediate approval of the legislation by the House and Senate.

National Cotton Council members consistently have expressed support for Congressional approval of the Free Trade Agreement with the Republic of Colombia, which was signed in November 2006. The U.S. cotton industry has increased exports of cotton and cotton products under the provisions of the Andean Trade Preference and Drug Eradication Act (ATPDEA). However, approval of the FTA will enhance U.S. competitiveness and benefit farmers and manufacturers by removing the tariffs which are currently applied to U.S. products entering Colombia.

Colombia is an important export market for U.S. raw cotton. In 2010, the United States exported more than 230,000 bales of raw cotton to Colombia with an estimated value of $100 million. With an 80 percent market share, the United States is the primary supplier of imported cotton to the Colombian market. With the FTA in place, the United States is well positioned to capture a significant portion of growth in Colombia's demand for cotton fiber.

In addition, both Colombia and the United States benefit from significant two-way trade in cotton textile products. In 2010, textile exports in predominantly-cotton products from the United States to Colombia totaled $56 million. During that same year, the United States imported $165 million in predominantly-cotton textile products from Colombia. Under the provisions of the ATPDEA, Colombian apparel products, containing U.S. components, enter the United States duty-free.

However, the failure to approve the FTA in a timely manner and the uncertainty associated with the need to extend the ATPDEA while the Administration and Congress consider the FTA, has disrupted trade and caused U.S. exporters of cotton yarn and fabric to lose business to Asian sources.

The National Cotton Council is the central organization of the U.S. cotton industry representing growers, ginners, warehousemen, cottonseed merchandisers and processors, merchants, cooperatives and textile manufacturers whose primary business operations are located in 17 cotton producing states.

U.S. cotton growers produce a crop with an annual farm-gate value in excess of $5 billion. The industry and its suppliers, together with the cotton product/manufacturers, account for approximately 200,000 jobs and generate total annual economic activity in access of $100 billion.

National Cotton Council

Must ReadView All

Textiles | On 28th Feb 2017

China's textile & apparel exports up 10.2% in Jan 2017

Exports of textiles and garments from China resumed growth in the...

Apparel/Garments | On 28th Feb 2017

Delta Galil's Q4 operating profit jumps 80%

In the three months to December 31, 2016, operating profit at apparel ...

View of YiwuTex 2016; Courtesy: YiwuTex

Textiles | On 28th Feb 2017

Smart knitting system to grace 18th YiwuTex 2017

The thematic functional knitting machinery zone at the 18th YiwuTex...

Interviews View All

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search