Obama: Labor deal paves way for U.S.-Colombia trade pact

WASHINGTON (Reuters) – President Barack Obama said on Thursday a U.S.-Colombian agreement on an action plan for addressing labor rights in Colombia formed the basis for moving forward on a trade pact between the two countries.

Obama, speaking after talks with Colombian President Juan Manuel Santos, said there was still a lot of work to be done to make the labor reform plan a reality but estimated the United States would gain $1 billion in exports if Congress approves the deal.

Obama: Labor deal paves way for U.S.-Colombia trade pact