Colombia’s government will allegedly approve trade negotiations with Japan on Tuesday, said the minister of commerce.
President Juan Manuel Santos will meet with the Japanese Prime Minister Yoshiko Noda Tuesday in New York to discuss the Free Trade Agreement (FTA) between the two countries, reported Caracol Radio.
“With Japan we will give the green light to begin negotiations of a Free Trade Agreement that is on old aspiration of Colombia,” said Santos.
The Minister of Commerce Sergio Diaz-Granados also told Caracol Radio in an interview that Colombia’s government will approve the agreement, subsequently lowering tariffs between the two countries and hopefully increasing exports to Japan.
According to Granados, Colombia’s main priority for trade negotiations will look to improve exports of products such as meat and other protein products, as well as dairy which “are highly consumed in Japan.” The minister added, “we see a great potential in flowers. This is also in great demand.”
Granados said that 9% of Colombia’s current exports to Japan include coal and a similar percentage of ferronickel.
After initiating negotiations today, the Free Trade Agreement with Japan will supposedly be signed next year. The meeting between Santos and the Japanese Prime Minister will also include various diplomatic and economic topics in addition to the trade negotiations.
The trade agreement would be Colombia’s second trade agreement with an Asian country, after recently signing an agreement with South Korea. The president’s website also stated that President Santos “is expected to soon set the date for the start of the negotiating tables of a trade agreement with China.”
