Fish and Fish Products Sector

An Expert's View about Aquaculture in Colombia

Posted on: 25 May 2012

The fish and fish products sector accounted for over $3 million in U.S. exports to Colombia over 2008-10 (average) or less than 1 percent of total U.S. industrial exports to Colombia.

The U.S.-Colombia Trade Promotion Agreement Opportunities for the U.S. Fish and Fish Products Sector The U.S.-Colombia Trade Promotion Agreement would provide signicant commercial opportunities for U.S. exporters: • Estimated duties paid on exports of U.S. sh and sh products to Colombia were nearly $1.5 million from 2008 to 2010. Tari elimination could allow U.S. rms to reinvest in production improvements. • More than 83 percent of U.S. sh and sh product exports to Colombia would receive duty-free treatment immediately upon implementation of the U.S.-Colombia Trade Promotion Agreement; Colombian sh and sh product taris currently average 18.7 percent, ranging up to 20 percent. Fish and Fish Products Sector Overview • The sh and sh products sector accounted for over $3 million U.S. Fish and Fish Product Exports in U.S. exports to Colombia over 2008-10 (average) or less than1 to Colombia Averaged $3.1 1 percent of total U.S. industrial exports to Colombia. Million • Top U.S. sh and sh products exports to Colombia include frozen sh and sh llets, shrimp and prawns, and sh oils. • The U.S. commercial shing sector harvested over $4.4 billion $4 2 worth of sh and shellsh in 2008. $3 • The U.S. commercial shing, seafood processing, retailing, and wholesaling industries employed approximately 370,000 workers $2 3 in 2008. $1 $0 Improved Market Access for U.S. Fish and Fish 2008 2009 2010 Products Exporters to Colombia • Colombian sh and sh products taris currently average 18.7 percent, ranging from zero to 20 percent. • Over 83 percent of U.S. sh and sh products exports to Nearly 100% of U.S. Fish and Fish Colombia would receive duty-free treatment immediately upon Product Exports to Colombia Would 4 implementation of the trade agreement. be Duty-Free Within 5 Years • Taris on an additional 17 percent of sh and sh products 1% exports to Colombia would be eliminated over ve years and taris on less than 1 percent of sh and sh products exports 16% would be eliminated over ten years. Immediate Key States Exporting to Colombia • Top U.S. states exporting sh and sh products to Colombia 5 Years, Linear include: Florida, California, Utah, Washington, New Jersey, 5 Wisconsin, Iowa, Rhode Island, Texas, and Louisiana. 10 Years 83% 1 Global Trade Atlas. Calculations by the U.S. Department of Commerce based on import data as reported by Colombia. The denition for sh and sh products used in this report, unless otherwise cited, is based on Harmonized System (HS) Chapter 3 and selected products within Chapters 5, 16, and 23. 2 U.S. Department of Commerce, National Oceanic and Atmospheric Administration, Fisheries Economics of the United States 2008. 3 U.S. Department of Commerce, National Oceanic and Atmospheric Administration, Fisheries Economics of the United States 2008. 4 Data based on three-year average for 2008-2010. 5 U.S. Department of Commerce, U.S. Census Bureau. In Millions USD Foreign Competition in Colombian Market • Colombia signed trade agreements with both the EU and Canada EU Could Gain a Tari Advantage in November, 2008. Additionally, Colombia has FTAs in force with the rest of the Andean Community, Chile, Mexico, El Salvador, In the Colombian Fish and Fish Guatemala, and Honduras. Colombia grants some preferential Product Market access to MERCOSUR, CARICOM, Costa Rica, Nicaragua, and 20 Panama. 18 • Upon implementation of its agreement, EU sh and sh product 16 14 exporters would enjoy a 19 percent average tari advantage over 12 6 U.S. exports. 10 EU 8 US 6 Other Key Commitments by Colombia for the Fish MFN 4 2 and Fish Products Sector 0 Rules of Origin: The U.S.-Colombia Trade Promotion Agreement rules of origin allow only U.S. and Colombian originating goods to receive preferential tari treatment under the Agreement. The trade agreement rules of origin provide clear requirements for a good to be considered originating, including on goods wholly obtained or produced entirely in the territory of the United States or Colombia, as well as requirements on materials that are used in the production of the good. 6 U.S. Department of Commerce calculations based on EU-Colombia FTA and U.S.-Colombia Trade Agreement tari commitments and Colombian 2010 Tari Schedule. Average Tari April 2011 The International Trade Administration - Your Global Business Partner The International Trade Administration (ITA) – a division of the U.S. Department of Commerce – strengthens the competitiveness of U.S. industry, promotes trade and investment, and ensures fair trade through the rigorous enforcement of our trade laws and agreements. ITA also utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. For more information on exporting to Colombia, please contact: • The ITA office of the U.S. Embassy in Colombia at office.bogota@trade.gov, or 011-571-275-2519, or by visiting our website http://www.export.gov/colombia. • The U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://www.export.gov/eac. For more information on the U.S.-Colombia Trade Promotion Agreement, please visit www.export.gov/fta/colombia and www.trade.gov/fta/colombia. For more information on industry-specific issues, please visit http://trade.gov/mas/index.asp.
Posted: 25 May 2012