Colombia and South Korea wrapped up their third round of negotiations over a bilateral free trade agreement (FTA) in Seoul on Friday, having reportedly made advances in policy on trade of goods.
began on Monday, was “quite positive” and that while progress had been made on trade of goods, matter related to the services sector and investment still needed to be solidified.
In regard to market access, the two sides agreed to exchange “improved offers” before they hold an additional round of talks on services and investment in Washington in September.
Trade between the two countries was worth US$1.23 billion in 2008. Colombia imports mainly cars and electronic goods from the Asian nation, and exports coffee, coal and nickel in return.