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Colombia - Israel. News about FTA

Colombia - Israel. Israel expects to sign the Free Trade Agreement with Colombia in early 2013


Israel expects to close this year the negotiations on the FTA with Colombia and sign it in early 2013, as revealed by the Israeli ambassador in Bogota, Yoed Magen, who has said that the success of this treaty is virtually guaranteed because the economies of both nations are "complementary".

"We hope that at the end of this year we close the negotiations and at the beginning of 2013 will sign the text to its effective date," said Magen in an interview with Colombian newspaper 'The Republic'.

The entry into force of the trade agreement "would play an important role in the diversification of products," considering that Colombia "is the second market" of Israel. "Now, with the international crisis of European countries, employers are looking to expand its borders," recalled the ambassador.

According to Magen, one of the main goals is to lower tariffs on industrial products in each country, while not ruling out any payoff in terms of participation in public tenders.

Currently, about a hundred Israeli companies are installed and operate the South American nation, especially in the sectors of infrastructure and agriculture. The trade last year was 700 million dollars (567 million Euros), according to the diplomat.


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Photographer:  Andres Lacko