Colombia and Japan to begin 12th round for Economic Partnership Agreement

EFE | 14 de julio de 2015

Colombia and Japan to begin 12th round for Economic Partnership Agreement

Bogota, Jul 14 (EFE).— Colombia and Japan will begin the 12th round of negotiations for Economic Partnership Agreement on Tuesday, Colombian Ministry of Commerce, Industry and Tourism announced on Monday.

In this round, which will be concluded on Jul. 17, three pending issues, namely trade in goods, government procurement and rules of origin will be discussed, said the Minister of Commerce, Industry and Tourism of Colombia, Cecilia Alvarez-Correa.

The minister highlighted the importance of this negotiation with Japan, the third largest economy of the world and the largest net importer of food.

The agreement will lead to diversification of Colombian exports of agricultural and industrial goods, and services.

Moreover, businessmen will have better access to supplies and raw materials to improve competitiveness and will lead to higher Japanese investment and cooperation in innovation and technological development, said Alvarez-Correa.

In the previous round of negotiations in Tokyo, the group concluded discussions on legal and institutional issues, sealing 15 of the 18 topics on the agenda of the Economic Partnership Agreement.

In 2014, trade between Colombia and Japan reached $1.86 billion, according to the data of the Ministry of Commerce.

Japan is the largest Asian investor in Colombia, with investments amounting to nearly $393 million between 1994 and 2014.

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source: EFE