The Free Trade Agreement (FTA) between Colombia and Canada has proven to be successful for both countries, said Colombia’s trade minister Wednesday.
The Colombian Minister of Commerce, Sergio Diaz-Granados, presented a panorama of results after marking the one year anniversary of the FTA between the two countries.
According to the minister, Colombia has received a net investment income from Canada in over 44 million dollars between just January and March of this year. Exportations in products such as soap and cosmetics, paper, and leather industries have also seen a growth of over 100% since the agreement went into effect.
On the other side, Canada as 8th in the foreign import market, has centered their interest in sectors such as oil services, telecommunications, software, automotive, processed foods, and tourism.
More than 24,000 Canadian visitors have arrived in Colombia since the beginning of the year, a 24% increase in tourism compared to the same period in 2011.
Diaz-Granados said that it has been a successful year on both sides. Not only has the agreement paved the way for an added value in sectors of foreign sales, but it has also been valuable in sectors that play a role in the generation of Colombian employment.