How to Comply With U.S.-Colombia Trade Agreements

The United States and Colombia have a free trade agreement with each other. This agreement, which was negotiated in November of 2006, means that most goods that are imported and exported between the two countries will be able to enter each nation duty free. If you have an import-export business or are looking to start one, you will benefit from knowing how to comply with U.S.-Colombia trade agreements.

Instructions

Difficulty: Moderately Challenging

Comply With U.S.-Colombia Trade Agreements

1. Consult your local Small Business Administration (SBA) for help with finding, filling out and filing the appropriate government paperwork to begin trade with Colombia. Paperwork requirements are constantly changing but the SBA can give you up to date information.
2. Avoid doing business with any banned companies or individuals in Colombia. The United States keeps a list of those persons and entities in Colombia that are suspected of being big players in the illegal drug trade. Doing business with any organization or person on this list is prohibited.
3. Be aware of any temporary bans on Colombian imports. Sometimes circumstances arise that require certain products to cease being imported for a time. Such circumstances usually revolve around concerns about the product's safety. Food items are the most common products to receive temporary bans.
4. Consult with the Colombian embassy in Washington, D.C. to make sure you are complying with Colombian law regarding your trade activities. You do not want to run afoul of Colombian authorities and lose your trading privileges there.
5. Check with the website of the U.S. Department of State on a regular basis (see Resources below). This website has up to date information regarding any changes in the laws governing US-Colombia trade agreements. If anything changes, the website will direct you to further resources informing you how to comply with the new laws.

Tips & Warnings

• Remember that when your business engages in trade with another country, it has two sets of laws it must comply with in order to operate legally. Keeping abreast of trade laws in both Colombia and the United States is the only way to keep your business running smoothly.
• If you travel frequently to Colombia as part of your business operations, become familiar with local Colombia laws so as to remain in good standing while you are there.
• If you do business with Colombian companies, it may benefit you to learn a little conversational Spanish.
• Make sure you have all of your paperwork in order before engaging in any import or export trade with Colombia. Otherwise, you could end up facing heavy fines and even jail time in some circumstances.