Andean Trade Preference Extension Act of 2008

Bill 110 hr 5264, also known as the Andean Trade Preference Extension Act of 2008, is a piece of legislation that aims to extend trade preferences for certain countries in the Andean region. These preferences allow for duty-free treatment of certain goods imported from these countries into the United States.

The bill specifically extends the Andean Trade Preference Act (ATPA) and the Andean Trade Promotion and Drug Eradication Act (ATPDEA) until December 31, 2009. These acts were originally put in place to promote economic development and reduce drug trafficking in the Andean region.

By extending these trade preferences, the bill aims to continue supporting the economies of countries such as Colombia, Peru, Ecuador, and Bolivia. These countries rely on exports to the United States for a significant portion of their economic activity, and the duty-free treatment provided by the ATPA and ATPDEA helps to make their products more competitive in the US market. Overall, the Andean Trade Preference Extension Act of 2008 is a bipartisan effort to support economic development and reduce drug trafficking in the Andean region by extending trade preferences for certain countries.