Colombia: Free Trade Improves U.S. Liquor Sales in Colombia
FAS Colombia is writing a series of reports on the opportunities and challenges for U.S. agriculture under the U.S.-Colombia Trade Promotion Agreement (CTPA), which went into force in May 2012. Even though the CTPA opened up the market for U.S. alcoholic drinks (beer, wine and spirits), U.S. firms were generally unfamiliar with the Colombian market. To overcome this constraint, FAS Colombia in partnership with U.S. cooperators developed a series of successful activities to promote U.S. alcoholic beverages in Colombia that have shown results. Over the last two years, U.S. exports of wine increased by 152 percent to almost $4.5 million in 2013 and U.S. exports of whisky increased by 83% percent to over $683,000 in 2013. This upward trend is continuing in 2014. During the first five months of 2014, U.S. wine exports to Colombia increased by 13% while U.S. whiskey exports increased by 110%. While U.S. market share for alcoholic drinks is still small, and there are remaining market access issues, the potential for U.S. exporters is great. FAS Colombia will continue to work with our U.S. cooperator partners on promotional activities in the market.
