Colombia: Local Industry Struggles to Compete Under FTA

teleSUR English 2015-06-17

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The Free Trade Agreement between Colombia and the United States is now in its third year and has made it impossible for small and medium-sized businesses to expand. On the contrary, it has resulted in staff cuts and a 50% reduction in sales. Department stores prefer to buy cheaper foreign imports instead of nationally produced products, which has had a devastating impact on the level of unemployment nationwide. The agricultural industry has also been especially hard hit by the FTA. Natalia Margarita reports from Bogota for teleSUR.

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