Right under the news radar, the U.S. and Colombia are hashing out their last differences for the free trade pact that will create confidence and prosperity on an untold scale for already star-performing Colombia and will enrich and enliven the U.S. with the bright and brilliant side of Colombia from its private sector, not its ugly drug and crime side, which will be destroyed.

It’s a great occasion for joy and it might even happen by the end of this week.

There’s one nation watching this, one that already has a defacto free trade pact with the US due to its trade in oil – you’ve got it, it’s Venezuela.

Venezuela’s chavistas are responding with rage and fury at this beautiful coming development between the U.S. and Colombia. The Chavistas know that if free trade takes off in Colombia with the world’s most vast economy, it’s bad news for them. Suddenly, they won’t be competitive anymore. Maybe not even in oil – right now, Colombia is a fast-rising supplier of oil to the U.S. and that’s going to grow. But not just oil – manufactured goods, produce, steel, minerals. Venezuela, which has run its industries into the ground, can’t compete anyway, it’s just that Colombia will eat their lunch even more. El Universal reports the amazing story here:

Colombia-US FTA may distort Venezuelan market

Minister of Industry and Trade Gustavo M????rquez thinks that an eventual Free Trade Agreement (FTA) by Colombia and the United States could result in unfair competition to the detriment of Venezuelan commodities.

Colombian goods would become more competitive than Venezuelan items, and up to 40 percent of Venezuelan-Colombian trade could be damaged, according to Andean Community estimates.

“The execution may create distortion between Colombia and Venezuela. We are weighing this impact to prevent an adverse effect on our productive sector and move forward to Mercosur,” the senior official pointed out.

M????rquez deems it necessary “institutional redefinition and creation of community standards on dispute resolution towards unity of nations.”

The Ministry of Industry and Trade will assess over the next few days a number of scenarios to anticipate actions in order to lessen the impact of a possible US-Colombian agreement.

Go, free trade!!!