Disadvantages for Colombia in Free Trade Agreement negotiations

Abstract

The analysis of Colombia's Free Trade Agreements with various countries reveals diverse results, with both advantages and disadvantages for the country's economic and social sectors. Studying this reality demonstrates that there are areas where further work is needed, such as strengthening domestic production to bolster Colombia's export systems. To achieve this work, our main objective was to analyze the different treaties signed and agreed upon by Colombia with each country, describing the advantages and disadvantages they have had on the country's current economy. To this end, it was vital to require and develop a documentary methodology that involved researching and describing the behavior of Colombia's trade balance in relation to the different treaties. We also incorporated a descriptive methodology as a strategy that systematically observes and considers the reality of the context using documentation from DANE (National Administrative Department of Statistics), ProColombia, MinCIT (Ministry of Commerce, Industry and Tourism), and Legis Comex (Colombian Foreign Trade Law). This yielded a study showing deficiencies in Colombian exports, which do not keep pace with current imports. Colombian products are not being showcased as exportable goods, and there is still no established brand recognition in the international market.