Colombia and South Korea conclude FTA agreement
Colombia and South Korea have concluded negotiations on a Free Trade Agreement (FTA)
The agreement includes 22 chapters on trade in goods, services, customs procedures & trade facilitation and technical barriers to trade, trade remedies and intellectual properties as well as other measures.
Once the agreement is ratified the tariffs on nearly all items traded between the two countries will be removed over the next ten years. The FTA, if approved by both parliaments is expected to come into effect early next year.