After years of procrastination, the US Senate is expected finally to sign off the Free Trade Agreement with Colombia - the House has already voted in favour.
Don't listen to the misguided voices against it, the FTA is an important and necessary step - both for Colombia and for the US.
While for Colombia the advantages of privileged access to the largest market in the world are obvious, the FTA is - for this website - of even greater importance to the US.
Failure to sign the agreement on the part of the US would represent an economic and diplomatic retraction in a key emerging market in a region of strategic geopolitical importance.
Economically the US is already in retreat in the continent. Chinese investment in Latin America continues to rise - exponentially. If the US doesn't act China will soon become the major economic force in the region.
But the agreement is about more than just trade and the economy. The FTA is also crucial for US foreign policy. There are signs the US' influence in the South is on the wane. Given Colombia is the US' closest ally in the region, the failure to deepen ties with the country would represent extreme negligence, and accelerate its diplomatic decline.
This is not a time for the US to rest on its laurels.
