Colombia: FTA negotiations with Japan progresses

Portafolio.co | 6 Nov 2014

Colombia: FTA negotiations with Japan progresses

The eighth round of negotiations for the Economic Partnership Agreement between Colombia and Japan’s technical teams held in Bogota, which lasted a week, finally came to an end.

The chief negotiator for Colombia, Javier Gamboa, said that progress was made by most of the negotiating teams, particularly in the financial services, cooperation and trade, and sustainable development.

Gamboa also said that the teams negotiating rules of origin and trade defence had extended their sessions this week due to scheduling reasons.

The ninth round of negotiations could take place in mid-December in Tokyo (Japan), but the date still needs to be agreed upon by all parties via diplomatic channels.

Colombia’s Minister of Commerce, Industry and Tourism, Cecilia Alvarez-Correa, stressed the importance of this negotiation because Japan is the third largest economy in the world, the first Asian investor in Colombia, and one of the largest importers of agricultural and agro-industrial products in the world.

Bilateral trade between the two nations almost amounted to $1,900 million dollars in 2013. Colombian exports to that market in that same year amounted to nearly $400 million dollar, 8 percent more than in 2012. Sales of products such as coffee, fruits and flowers stood out.

keywords:
source: Portafolio