Talks began on FTA between Israel and Colombia

Talks began on FTA between Israel and Colombia

Trade and investment ties between Colombia and Israel are strong. In 2011, Israeli exports to Colombia was US$102, down 40% compared to 2010
23.03.12 / 00:00
Talks began on FTA between Israel and Colombia
23.03.12
Talks began on FTA between Israel and Colombia

Trade and investment ties between Colombia and Israel are strong. In 2011, Israeli exports to Colombia was US$102, down 40% compared to 2010
 
The first round of negotiations for a Free Trade Agreement (FTA) between Israel and Colombia was held in Jerusalem on 12–15 March 2012.
 
The negotiation started last Monday with the signing of the terms that will govern the process, by the ministers of Commerce, Industry and Tourism of Colombia, Sergio Diaz-Granados, and his Israeli counterpart Shalom Simhon.
 
The talks covered market access, rules of origin and customs procedures, barriers to trade, health and environmental laws, trade defence, services and investment, government purchases, legal and institutional cooperation.
 
Sergio Diaz-Granados said an FTA with Israel was the first step in Colombian President Juan Manuel Santos's bid to increase Colombian-Middle East trade.
 
Trade and investment ties between Colombia and Israel are strong. In 2011, Israeli exports to Colombia was US$102, down 40% compared to 2010. Exports was made of machinery 47%, optical equipment 13%, chemicals 10%, textiles 10% and plastic products 9%. Colombia's export to Israel in 2011 amounted to US$712, up 78%. Coal accounted for 94.3% of the value of exports for the period, as well as 78.7% of the total value of bilateral trade.
 
The remainder was comprised of coffee and its derivatives, as well as emeralds and flowers. Israel announced that it would open a trade office in Bogota this summer.

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