MIAMI (AP) — Florida businesses are celebrating the approval of the free trade agreements with Colombia, Panama and South Korea. They say the deals will boost both the state’s exports and its image as a major gateway to Latin American business opportunities.
The agreements signed last Wednesday will eliminate tariffs on U.S. products. They will also help protect intellectual property and improve access for American investors.
Much of the national attention has focused on the South Korea deal. The Obama administration says it will lead to at least 70,000 new jobs for Americans. But in Florida folks are looking to the Colombian agreement for the most immediate results.
At $4.5 billion, the South American country is the state’s fourth-largest export market after Brazil, Switzerland and Venezuela.
Source: Laura Wides-Munoz, Associated Press