Through Free Trade agreements (FTA), Colombia has established a legal basis to optimize the internationalization and growth of its economy. This basis, even though it requires subsequent efforts and processes, represents an opportunity for improving competitiveness of products and services that are exported, and also constitutes a showcase display to increase national and foreign investments.
Successful negotiation processes have taken place with around 30 countries, some which are part of different economic communities. In 2009, commercial agreements with Ecuador and Guatemala went into effect. The following years treaties with El Salvador and Honduras got underway, and in 2011 treaties with Canada, Switzerland, and Liechtenstein went live. A renewal of Mexico’s treaty also took place. In 2012 the final revision of treaties with Cuba and the United States was finished, and they went live later that year. Among the existing deals are also those agreed with CAN, MERCOSUR and CARICOM, as well as the Treatry with Perú and the European Union approved at the end of 2012, as well as an agreement with Korea.
Signed agreements, negotiations and study cases.
The country also has five negotiations taking place with Panama, Turkey, Costa Rica, Israel and the Pacific Alliance. Finally, talks towards a deal with Japan have been announced.
Besides from the FTAs, Colombia also has different types of commercial agreements, as are the reciprocal Investment Promotion and Protection Agreements, and treaties to avoid double taxation.