ATPDEA, abbreviated for Andean Trade Preference and Drug Eradication Act, is a trade agreement between the United States and four Andean countries: Bolivia, Colombia, Ecuador, and Peru. This legislation was signed into law on October 31, 2002, as a part of the U.S. government's efforts to promote economic growth, development, and eradicate drug trafficking in the region.
Under the ATPDEA, eligible products from these Andean countries are granted preferential duty-free access to the U.S. market. It aims to support the economies of these countries by fostering trade, attracting foreign investment, and creating job opportunities. In return, the recipient countries are expected to demonstrate significant progress in the fight against illicit drug cultivation and production.
The act initially had a duration of ten years but has been extended multiple times, with the most recent extension valid until December 31, 2023. The extension of ATPDEA requires regular evaluations to determine if the countries meet the eligibility criteria under the legislation, including their commitment to combating drug trafficking and implementing effective customs procedures.
The ATPDEA has had a notable impact on the Andean economies, increasing their exports to the United States. It has particularly benefited sectors like textiles, apparel, machinery, and agricultural products, contributing to the economic development of these countries.
Overall, the ATPDEA is a trade preference program that aims to strengthen the economic ties between the United States and the Andean countries while simultaneously supporting efforts to eradicate drug trafficking and production, promoting sustainable development, and fostering regional cooperation.
