NEW

HAMPSHIRE AND COLOMBIA A GROWING PARTNERSHIP

A U.S.-Colombia Trade Promotion Agreement (CTPA) has the potential to increase both trade and investment between the United States in Colombia, improving on an already strong relationship. In particular, New Hampshire stands to gain from increased business ties, as the CTPA will create jobs at home through increased export market access for both goods and services, reduced prices for manufacturers, and an improved investment environment. AT $32 MILLION IN 2010, COLOMBIA IS NEW HAMPSHIRES 24TH LARGEST EXPORT MARKET

Total New Hampshire Exports to Colombia

(millions of dollars)

Source: U.S. Department of Commerce

Upon implementation of the CTPA, more than 91 percent of New Hampshires exports to Colombia will be duty free. This tariff elimination gives New Hampshire exporters a cost advantage of up to $5.2 million over s imilar products exported by competitors who do not have an FTA with Colombia. While New Hampshire exporters typically face tariffs of 10-15 percent, 94 percent of C olombias exports to the United States in 2010 entered duty free. C TPA would level the playing field for New Hampshire exporters.

Estimated Increases in U.S. Exports in Sectors Important to New Hampshire Misc. Manufactures Fabricated Metal Products Processed F oods Plastics & Rubber Products Machinery Computers & Electronics 60.1% 56.4 36.2 22.6 14.9 8.0

Source: U.S. International Trade Commission

 Value of Exports Potential Product to Colombia (2010) Duty Savings Military weapons $20,830,094 $4,166,019 Non-woven fabrics 3,084,480 462,672 Electric generators 1,365,540 up to 204,831 Machinery plates and cylinders 745,236 37,262 Metal working tools 585,918 58,592 Lasers 365,753 18,288 305,861 up to 30,586 Printer, copier, and fax machine parts Electrical insulators 299,024 44,854 Mechanical tool parts 229,843 11,492 Boring machinery parts 206,564 20,656 COMPANIES WHOSE EXPORTS BECOME DUTY FREE IMMEDIATELY UPON IMPLEMENTATION OF CTPA Velcro USA, Manchester, exports hook and loop fasteners to Colombia that face tariffs of 5-20 p ercent. Milford Cat, Hopkinton, exports construction equipment to Colombia that faces tariffs of 10 p ercent. Joseph Equipment Co., Manchester, exports bulldozers to Colombia that face tariffs of 10 p ercent. T Quip Sales & Rentals Inc., Londonderry, exports shovel loaders to Colombia that face tariffs of 10 Sector Capital Corp., Manchester, percent. exports construction equipment to Colombia that faces tariffs of 10 percent.

10 NEW HAMPSHIRE EXPORTS THAT CTPA WILL MAKE DUTY FREE IMMEDIATELY

Contact: David Thomas, Director, Public Policy, Business Roundtable 202.496.3262, dthomas@brt.org