MIDLAND, Mich.--(BUSINESS WIRE)--As a major manufacturer in both Colombia and the United States, The Dow Chemical Company (NYSE: DOW) congratulates both governments on closing the remaining gaps to progress on the bilateral free trade agreement. For Dow, the agreement is a significant step forward, as it removes tariffs and barriers to key American exports and supports growth in the Colombian domestic market.
"Commitment to move forward is a critical component of the U.S. National Export Initiative and a strategic recognition of Colombia's vital partnership with the United States," said Dow Chairman and CEO Andrew Liveris. "We congratulate both administrations for their work and urge the U.S. Administration and Congress to move forward quickly on a positive vote to approve this agreement – and to continue to grow our bilateral economic partnership."
The agreement will remove 90% of current tariffs assessed to Dow's more than $200 million in American manufactured goods exported to Colombia. Removal of these tariffs levels the playing field, sustaining American manufacturing by ensuring free and fair market access to Colombia's vital and growing domestic economy.
Dow has operated in Colombia for 51 years with an excellent safety and productivity performance. The Company’s solid community programs have benefited thousands of people in key development areas such as education and entrepreneurship.
About The Dow Chemical Company
Dow (NYSE: Dow) combines the power of science and technology with the "Human Element" to passionately innovate what is essential to human progress. The Company connects chemistry and innovation with the principles of sustainability to help address many of the world's most challenging problems such as the need for clean water, renewable energy generation and conservation, and increasing agricultural productivity. Dow's diversified industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 160 countries and in high growth sectors such as electronics, water, energy, coatings and agriculture. In 2010, Dow had annual sales of $53.7 billion and employed approximately 50,000 people worldwide. The Company's more than 5,000 products are manufactured at 188 sites in 35 countries across the globe. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.