LatinNews Daily - 17 August 2023

In brief: Colombia to renegotiate FTA with US, says Petro

* Colombia’s President Gustavo Petro has announced that his government will renegotiate Colombia’s free trade agreement (FTA) with the US, which has been in place since 2012. Addressing coffee producers in Huila department, Petro said that some economic sectors, such as maize producers, are unable to compete with the US, and said that “I want to publicly announce that the renegotiation is beginning”. Petro said that a revised FTA will benefit labour-intensive agricultural exports from Colombia, saying that Colombia’s future wealth lies in its workers and not in “oil, coal or cocaine”.

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