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NEMA Welcomes Obama Administration’s Plans to Move Forward with Colombia FTA

04/6/2011 1:00PMSign-up to receive press releases.

(ROSSLYN, Va.)—NEMA welcomed the announcement today by U.S. Trade Representative Ron Kirk of the Obama Administration’s plans to work with the government of Colombia to implement a free trade agreement (FTA) between the two countries. The announcement provides for a path to near-term bipartisan Congressional approval of the FTA, for which negotiations were initially concluded in 2006.

Colombia is the third-largest economy in Central and South America and is growing quickly. The value of U.S. of electroindustry equipment exports to Colombia in 2010 exceeded $330 million, accounting for 3 percent of all U.S. exports to this fast-growing economy.

“The U.S.-Colombia FTA’s aggressive elimination of tariffs on U.S. electroindustry products, which range from 5 to 20 percent, stands to improve our export totals even further,” NEMA President and CEO Evan R. Gaddis said. “NEMA has been engaged in capacity building in Colombia in the area of standards and conformity assessment for more than three years with support from the U.S. Commerce Department.

“We look forward to working through the Latin America Trade Coalition with the Administration, House and Senate on approval and immediate implementation of the U.S.-Colombia FTA in the coming few months,” Gaddis said.

NEMA is the association of electrical and medical imaging equipment manufacturers. Founded in 1926 and headquartered near Washington, D.C., its approximately 450 member companies manufacture products used in the generation, transmission and distribution, control, and end use of electricity. These products are used in utility, industrial, commercial, institutional, and residential applications. The association’s Medical Imaging & Technology Alliance (MITA) Division represents manufacturers of cutting-edge medical diagnostic imaging equipment including MRI, CT, x-ray, and ultrasound products. Worldwide sales of NEMA-scope products exceed $120 billion. In addition to its headquarters in Rosslyn, Virginia, NEMA also has offices in Beijing and Mexico City.

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