Colombia's Economy

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What Are The Real Effects? Introduction Colombia’s Economy General Context Economic Sector Economic Policies Economic Facets The Crisis Economic Growth United States - Colombia Free Trade Agreement Negotiations Implementation Effects Gross Domestic Product (GDP) Colombian Farmers Illegal Drugs Lost of the Internal Market Share Conclusion Works Cited I. Introduction Colombia is one of the oldest democracies in Latin America with solid functioning institutions, progressive laws, an active civil society, and one of the most ecologically diverse countries in the world. Economically speaking, Colombia has had a surprisingly turnaround over the past decade due to the confidence and business opportunities that the investors have found in its emerging market. However, the improvements made in the economy are not sufficient to ensure sustainable economic development. On May 15, 2012, the U.S.-Colombia Free Trade Agreement (FTA) went into effect, and after almost two years its effects have had a negative impact in Colombia’s economy, mainly in its agricultural sector, which constitutes 11.5% of the country’s GDP (Cámara Colombo Coreana). The farmers complain that cheap imports from the United States are hurting their sector leaving some of them almost in bankruptcy. During August and September 2013, the country was in a nationwide strike against the Free Trade Agreement, which had different areas of the country paralyzed specially in Bogota, the capital city. The main purpose of this paper is to study and analyze the effects that the U.S. Free Trade Agreement have in Colombia’s developing economy by demonstrating the effects in Colombia’s GDP after the agreement, the effects in farmers, illegal drugs, and in the internal market share... ... middle of paper ... ...Bogota: Siglo Veintiuno Editores de Colombia ; Fedesarrollo. Banco de la República de Colombia, (2000). Sectores economicos. Retrieved from website: http://www.banrepcultural.org/blaavirtual/ayudadetareas/economia/econo53.htm Colombia. Ministerio de Industria, Comercio y Turismo. Resumen Del Tratado De Libre Comercio Entre Estados Unidos y Colombia. Web. . Lozano, Ignacio. Caracterización de la Política Fiscal en Colombia. 2009. 4. eBook. . United States. Department of Commerce. U.S.- Colombia Trade Promotion Agreement. Web. . Lafourie, J. (2012). Agricultores muy asustados por TLC con Estados Unidos. Dinero.com. Retrieved from http://www.dinero.com/negocios/articulo/agricultores-muy-asustados-tlc-estados-unidos/151296

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